Admirals Markets AS Fined by Estonian Regulator

d08 said:
You're aware that in most western countries the fines are in the tens of millions? Even for smaller violations.
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was wondering about this, do you have any idea or similar forex brokers that paid millions fines?
 
thursday said:
was wondering about this, do you have any idea or similar forex brokers that paid millions fines?
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They seem to offer much more than just forex. FINRA, SEC, CFTC fined Interactive Brokers last year $38 million for not asking about the source of funds of clients and some other violations.
 
mlawson71 said:
Wow, I had no idea Interactive Brokers were this messy. And shady.
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Nothing shady about it. It's an insane US policy. Not only are they asking about your funds (and proof!) that you use to fund the account but also all your other holdings that have zero to do with US. I'm not an US citizen nor a resident, what business is that of theirs? If any other country did this, there would be issues.
 
d08 said:
They seem to offer much more than just forex. FINRA, SEC, CFTC fined Interactive Brokers last year $38 million for not asking about the source of funds of clients and some other violations.
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Jeez that is way overkill, but I can see how US policy affect that much.
 
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