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FXCM Fined by NFA: Bad Practices. Securities Arbitration Founder Announces New "FXCM Initiative" Recovery Program for Burned Investors.
FXCM fined by regulator $2 million; largest such fine in history of USA. Millions more set aside for FXCM burned investor claims. Securities Arbitration announced today a special "FXCM Initiative" designed to recover money for all FXCM burned investors nationwide.
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August 25, 2011 (FPRC) -- In announcing the new FXCM Initiative, 23-year pioneer Securities Arbitration Hotline, a leading organization working case-by-case recovering real dollars for real victims of Wall Street, opens this special program, FXCM Initiative to work for Main Streeters abused by FXCM and dedicated to put them back on financial solid ground. The goal is to recover funds lost due to the misconduct and misdeeds of the company as recently determined by the National Futures Association.
FXCM, Inc. was fined $2 million and also agreed to set aside $8 million more in settlement after a year-long NFA investigation and complaint "revealed a number of deficiencies" involving unfair and unequal customer practices. The CFTC is also reportedly separately investigating FXCM for similar misconduct.
"We applaud the NFA and believe it is long since time that the principles of fairness, of always putting the client first, of ensuring that investors are suitable for and able to sustain high risk trading are the standard benchmarks for all investment products in America," says Securities Arbitration’s founder Paul Young commenting on the NFA’s investigative work in announcing the new program under the umbrella of Securities Arbitration’s 23 years of service to burned investors in America.
"Particularly in these unstable economic times it is vital for Main Street investors to fully understand the nature and risks of investments versus the possible or potential rewards. And it is also true that investment companies must provide a level playing field and fully explain to suitable investors all risk factors. And to reject client accounts of non-suitable investors, no matter how contrary to standard thought and instinct that doing so may be," says Young, who has heads Securities Arbitration’s efforts. "When financial firms fail to do the right thing, investors have true recourse via arbitration."
The FXCM Initiative has already signed up a number of burned investors who have decided to fight back. "We believe that potentially many thousands more have been through the ringer with FXCM and the FXCM Initiative awaits them.
"Burned investors are usually embarrassed. That creates inertia. Doing nothing means simply losing twice. We encourage people to overcome the feelings of victimization and to fight back aggressively. Burned investors can win when taking on Wall Street and other financial firms across America," says Mr. Young.
FXCM victims may call the Hotline for free at 1-800-222-4724 weekdays.
FREE by request: BURNED INVESTOR’S RECOVERY PAK. 1-800-222-4724.
MEDIA: FOR INTERVIEWS PLUS MORE INFORMATION: Call Caren at Securities Arbitration Group. 1-424-268-4341 or email FraudFight@gmail.com
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Who we are: The nationwide Securities Arbitration Hotline @ 1-800-222-4724 has been operated as a FREE service for Main Street burned investors since 1989 by Securities Arbitration Group which was formed then. Ours mission is to get money back for burned Main Streeters when Wall Street and financial firms and brokers have victimized them. Founder Paul Young and SAG have recovered a total of millions for individual investors utilizing securities arbitration and mediation.
Paul Young is also available for print and air providing unbiased all-money matters expert commentary, without conflicts of interest. He can communicate, inform, entertain, and enlighten in a clear manner.
PAUL YOUNG, founder and CEO of Securities Arbitration is fully all-media experienced. His many appearances include CNN, CNBC, Mutual, Fox Radio Network, NPR, and regularly on national, syndicated, and local radio programs. Young and SAG have been profiled in print, including the Christian Science Monitor, Tribune Media Services, Creator’s Syndicate, Los Angeles Business Journal, other syndicated columns, and many other national and local print media. Paul was also business and money matters editor for "MSM" webzine, authored "Arbitration for Investors Burned by Brokerage Firms" for Personal Investing News magazine, and was subject-matter contributor to three books, including "Everything You Wanted to Know About Investing." He has also guest lectured for the SCMA.
PAUL YOUNG is available for interviews, guest appearances and news spots 24/7. For ALL MONEY MATTERS interviews, broadcast and print, call Caren at 1-800-222-4724. SHORT NOTICE OK.
Send an email to Caren Gellman of Securities Arbitration Hotline
1-424-268-4341
Keywords:
FXCM, stocks, NFA
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