NFA bans FX broker
WASHINGTON, DC – The US National Futures Association (NFA) has slapped a five-year ban on Cani Financial Advisors and its principal, Scott Raybin, as it continues to crack down on fraudulent foreign exchange brokers.
The penalty follows Cani’s failure to list its chief investment officer, Fred Smilek, as an additional principal in its NFA registration. Smilek owns 35% of the company. The regulator said Cani might have failed to register Smilek because he was banned from being a director employee
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