Even as FXCM continues to extricate it from
a punitive loan that saved the firm, its travails are increasing with news the
US Commodity Futures Trading Commission (CFTC) has charged the firm over events
surrounding its near collapse in the ...
FXCM is changing its name and its leadership following the recent scandal which saw the firm and its co-founders, William Ahdout and Drew Niv, fined $7 million and the firm banned from operating in the US.
In response to this, the company has changed its name to Global Brokerage, Inc. and the trading ticker symbol will change to "GLBR" expected to be effective at the opening of trading on February 27, 2017.
Niv has submitted his resignation to FXCM from his positions serving as a director and chairman of the board, effective immediately. He is also resigning as CEO, but will remain at the company in an advisory role “to assure an orderly transition”, says FXCM in a statement issued today.