Canada Court Rebukes Securities Watchdog Over Forex Trading Case

A court awarded record legal costs to MyForexFunds, a simulated trading firm whose assets had been frozen for more than two years, and said it was unimpressed with the conduct of the Canadian regulator investigating the platform.

The Ontario Superior Court ruled that Traders Global Group Inc., as the company is legally known, should be paid C$80,000 ($58,500) by the Ontario Securities Commission, which is the highest such amount imposed on the watchdog.

MyForexFunds was forced to shut down in August 2023, when the US Commodity Futures Trading Commission sued the company for operating a Ponzi-like scheme — ...