IG also became one of the
numerous forex
brokers to temporarily hike the margin requirements on some of its instruments, in
order to minimize the risk from the extreme market volatility surrounding the referendum and its uncertain outcome.
594 DOS 01 DOS v. Walker - deposits; failure to appear at hearing; failure to pay judgment; failure to cooperate with DOS investigation; notary public; proper business practices;
broker commingles funds by placing deposits in operating account;
broker allows escrow account to be overdrawn on
numerous occasions;
broker uses deposit for separate, unrelated business investment;
broker fails to pay judgment without presenting an explanation or excuse for failure to pay judgment;
broker fails to cooperate with DOS investigation by failing to respond to and comply with letter directing him to appear for a conference and to provide certain documents;
broker fails to notify DOS of new address upon closing office; DOS fails to prove that salesperson improperly held herself out to be real estate
broker associated with corporate
broker, that the
broker made misrepresentations to the purchasers regarding payments they were required to make toward the purchase, that some checks were returned for insufficient funds, that the
broker failed to make certain required payments, that the
broker properly failed to make certain other deposits and that the
broker gave a postdated deposit check which could not be cashed due to insufficient funds; representative
broker's and corporate
broker's licenses revoked, return of deposits in the amount of $ 400.00 and $ 3,173.83
ordered with interest, civil judgment to be fully satisfied; salesperson fined $ 1,000.00 and notary commission suspended for four months