News

Futures merchant Forex International Investments, Inc. agreed to pay $100,000 to settle charges that included failing to initiate an anti-money laundering program . The National Futures Association said Irvine, California-based Forex did not adequately train its employees, verify the identities of certain customers, or properly file suspicious activity reports (SARs). The decision, issued April 19, was the NFA's 12th AML-related enforcement action this year. It issued two such actions in 2006. The penalty, the highest against a futures merchant since the NFA started issuing AML-related enforcement actions last year, is the result of AML problems the NFA found in a...