Forex news and analysis tagged “Enforcement Report” on BestForex.io.
The CFTC and DOJ have charged Celsius Network and its founder Alex Mashinsky with fraud. At its peak, the platform held $20 billion of customer assets — almost none of which was managed as promised.
Australia's Federal Court ordered Binance Australia Derivatives to pay $10 million after it misclassified 524 retail clients as wholesale investors — letting them retake a multiple-choice quiz until they achieved a passing score.
The Upper Tribunal has confirmed the FCA's lifetime ban and £2,037,892 fine against Darren Reynolds — the worst British Steel pension adviser the regulator encountered — after he falsified documents, lied to regulators, and extracted assets from his own firm.
The CFTC and Canadian regulators moved simultaneously against My Forex Funds, freezing $310 million in assets and alleging the entire prop trading model was a fraud designed to extract fees from traders who could never actually win.
FinCEN, the SEC, and FINRA simultaneously resolved action against Canaccord Genuity LLC — totalling $120 million — for willful Bank Secrecy Act violations spanning six years. At least 160 suspicious activity reports were never filed.
FINRA fined Pictet Overseas $610,000 for AML failures that persisted for three and a half years after a regulator had already flagged the exact same deficiencies. A four-year warning. Never acted on.