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CFTC fines introducing broker $50,000 for failed recordkeeping

by Availability of information, Records management non-compliance

New World Holdings destroyed business records and failed to diligently supervise employees

CFTC fine:

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

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