CFTC Sues Forex Dealer Over Asset Requirements

Law360 (December 19, 2007, 12:00 AM EST) -- The U.S. Commodity Futures Trading Commission has sued an Illinois futures brokerage alleging the firm failed to demonstrate that it complied with capitalization requirements.

In a suit filed last week in the U.S. District Court for the Northern District of Illinois, the CFTC alleged that One World Capital Group LLC and firm President John Edward Walsh were unable to prove to regulators that at least $1 million in net adjusted capital had been maintained by the futures broker as stipulated by federal law.

The court immediately...
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