CFTC Uses New Forex Authority To Sue 14 Dealers

Law360, New York (January 26, 2011, 6:36 PM EST) -- The U.S. Commodity Futures Trading Commission sued 14 companies Wednesday, alleging they illegally solicited or accepted orders from U.S. investors to enter into foreign currency transactions.

The suits, launched in the U.S. district courts for the Northern District of Illinois, the Southern District of New York, the District of Columbia and the Western District of Missouri, represent the first time the CFTC has used its new authority under the 2008 Farm Bill and the Dodd-Frank Act to regulate foreign exchange dealers, according to the agency....
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