As a result, the firm, which is based in Fort Lauderdale, Florida, is prohibited from accepting any additional customer accounts or funds, accepting or placing trades for any customer accounts except for the liquidation of existing customer positions, and from acting as a counterparty to any FX transactions. The NFA says the action also prohibits Nations from distributing, disbursing, or transferring any funds, including to existing customers, without NFA approval.
The firm was given a day to liquidate all of its positions.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
