FXCM issues not a US problem, says Massad
US regulator points finger of blame at affiliates outside US jurisdiction
The chairman of the Commodity Futures Trading Commission (CFTC) has said the financial difficulties experienced by retail foreign exchange broker FXCM after the 30% move in EUR/CHF on January 15 were not caused by the firm's US entity, but rather the leverage limits available in its foreign subsidiaries.
Speaking at a press briefing on March 11 at the Futures Industry Association's conference in Boca Raton, Florida, Timothy Massad responded to a question from FX Week about what the CFTC was
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