{"id":71493,"date":"2019-10-23T02:04:49","date_gmt":"2019-10-23T06:04:49","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=71493"},"modified":"2019-10-24T19:28:03","modified_gmt":"2019-10-24T23:28:03","slug":"cftc-sues-unregistered-retail-forex-exchange-dealer","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2019\/cftc-sues-unregistered-retail-forex-exchange-dealer.html","title":{"rendered":"CFTC Sues Unregistered Retail Forex Exchange Dealer"},"content":{"rendered":"<p>(HedgeCo.Net)  The U.S. Commodity Futures Trading Commission has announced it issued an order filing and settling an enforcement action against Treasury Vault, LLC of Lehi, Utah for acting as an unregistered retail foreign exchange dealer.<\/p>\n<p>Starting in September 2017, Treasury Vault began offering through its website certain services in off-exchange foreign currency (forex) trading to U.S. retail customers who were not eligible contract participants.  The retail forex transactions were in Vietnamese Dong and\/or Iraqi Dinar. <\/p>\n<p>According to the order, Treasury Vault offered customers forex transactions utilizing a \u201creserve program\u201d financing option. The \u201creserve program\u201d was financed by Treasury Vault, which acted as the counterparty to the retail forex transaction. These transactions did not result in actual delivery of forex within two days of the transaction but the customers did receive their forex over a period of not less than fifteen days following the date of the transaction.<\/p>\n<p>The CFTC order requires Treasury Vault to cease and desist from further violations, and to pay a civil monetary penalty of $75,000. The Commission also recognizes Treasury Vault\u2019s cooperation with the Division of Enforcement\u2019s investigation of this matter in the form of a substantially reduced civil monetary penalty.<\/p>\n<p>\u201cThis action reinforces that entities wishing to offer forex transactions to retail customers must ensure that they are registered and abide by the laws designed to protect the public,\u201d said CFTC Director of Enforcement James McDonald.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(HedgeCo.Net) The U.S. Commodity Futures Trading Commission has announced it issued an order filing and settling an enforcement action against Treasury Vault, LLC of Lehi, Utah for acting as an unregistered retail foreign exchange dealer. Starting in September 2017, Treasury [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3,16048],"tags":[],"class_list":["post-71493","post","type-post","status-publish","format-standard","hentry","category-hedgeco-networks-press-releases","category-hedgeco-news","category-hedgecovest-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/71493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=71493"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/71493\/revisions"}],"predecessor-version":[{"id":71494,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/71493\/revisions\/71494"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=71493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=71493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=71493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}