CFTC Staffer Escapes Punishment For Banned Forex Trading
Law360, New York (April 27, 2015, 7:37 PM EDT) -- A U.S. Commodity Futures Trading Commission staffer has dodged sanctions — and potential felony charges — for making foreign currency trades that were against agency rules, according to a report from an internal watchdog that also pointed out informational gaps at the regulator.
According to the report from CFTC Inspector General A. Roy Lavik, the CFTC’s enforcement division was contacted in November by in-house counsel at a registered retail foreign exchange dealer, which informed the division that a CFTC employee was attempting to open a forex trading account in violation of agency rules.
The issue was passed on to the inspector...
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