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Wskxw.com is dedicated to providing quality information on the subject of Forex Trading for beginners, and in particular, on the various trading systems, and brokers, and tools.Pressed By Global Regulators, Forex Broker FXCM Restructures
By Christopher Zinsli Of DOW JONES VENTUREWIRE
Regulators in three countries are questioning FXCM Inc. about aspects of its foreign-exchange brokerage business, and in some cases the inquiries are prompting the company


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Pressed By Global Regulators, Forex Broker FXCM Restructures
By Christopher Zinsli Of DOW JONES VENTUREWIRE
Regulators in three countries are questioning FXCM Inc. about aspects of its foreign-exchange brokerage business, and in some cases the inquiries are prompting the company to undertake costly restructuring efforts, the IPO registrant disclosed in its prospectus.
The New York company, whose forex-trading services are used by 175,000 retail and institutional customers, said regulatory agencies in the U.S., Canada and Japan have inquired about the way the company solicits customers and executes trades.
FXCM said the agencies haven’t brought enforcement actions against it, but the company has begun restructuring parts of its operations to assuage regulators’ concerns.
Jaclyn Sales, FXCM’s vice president of corporate communications, declined to comment further on the matter, citing Securities and Exchange Commission quiet-period rules for pre-IPO companies.
U.S. forex brokers operating overseas must navigate a maze of international, national and, sometimes, local regulations. Many countries prohibit foreign companies from directly soliciting their citizens for forex services.


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