Mirror trading platform ZuluTrade has agreed a settlement with the US National Futures Association (NFA) regarding possible violations of some requirements under its IB registration. The complaints relate to accounts opened for individuals from US sanctioned countries, inadequate compliance with anti-money laundering rules, and failure to adequately supervise the firm’s employees, agents and operations. The firm and its CEO Giochais agreed to a $30,000 fine payable upon any future application for NFA membership.
Mirror trading platform ZuluTrade has agreed a settlement with the US National Futures Association (NFA) regarding possible violations of some requirements under its IB registration. The complaints relate to accounts opened for individuals from US sanctioned countries, inadequate compliance with anti-money laundering rules, and failure to adequately supervise the firm’s employees, agents and operations. The firm and its CEO Leon Yohai Giochais agreed to a $30,000 fine payable upon any future application for NFA membership.