CFTC files a suit against forex broker Tallinex for accepting US clients

Discussion in 'Wall St. News' started by mlawson71, Jun 7, 2017.

  1. mlawson71

    mlawson71

    The US Commodity Futures Trading Commission (CFTC) has filed a lawsuit against offshore forex brokerage Tallinex for illegally soliciting and accepting at least $1.5 million from US clients. Allegedly, the violations have been committed in the period September 2012 – September 2016 and the case will be heard by a district court in Utah.

    Tallinex has never been registered with the commission in any capacity,” CFTC stated in the complaint and added that “Tallinex has falsely represented to U.S. customers that it is lawfully doing business in the U.S.” Besides, the broker never disclosed to its clients that it is not registered with the relevant authorities.