CFTC fines introducing broker $50,000 for failed recordkeeping
New World Holdings destroyed business records and failed to diligently supervise employees
Chicago based introducing broker New World Holdings (NWH) has been imposed a fine by the US Commodity Futures trading commission as it failed to keep proper records of its customers and neglected employee supervision. The monetary penalty amounts to $50,000 while the court has also prohibited the company from violating the Commodity Exchange Act and CFTC regulations in the future.
Read more: LeapRate, January 14, 2014