FXCM announces setttlement with Financial Conduct Authority FXCM announces that its U.K. subsidiaries have entered into a settlement with the Financial Conduct Authority. The settlement addresses trade execution practices concerning the handling of price improvements on FXCM UK’s offsetting orders from August 2006 – December 2010. Under the terms of the settlement, FXCM UK has agreed to pay fines totaling 4M pounds to the FCA and to provide approximately $10M in restitution to the affected clients. FXCM recorded a reserve $15M in Q3 for this matter and will record an additional $1.9M in Q4 to reflect the terms of the settlement and related expenses.
News For FXCM From The Last 14 Days
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FXCM price target raised to $17 from $12 at Credit Suisse Credit Suisse raised FXCM's price target to $17 following strong August volume metrics. The firm continues to like the long-term story for FXCM and believes its cash position will make it a consolidator in the industry. Shares are Outperform rated.