The Law Firm of Levi & Korsinsky, LLP has launched an investigation into possible violations of Federal Securities Laws by the Board of Directors of FXCM Inc, according to a press release.

The company doesn’t say what laws might have been broken on its website but it looks like it’s gearing up for some kind of shareholder class action lawsuit, which is something it specializes in.

Earlier, FXCM announced it’s raising forex trading margins accounts.

I think the next phase of the SNB surprise will be fought with regulators and lawyers. A CFTC regulator was out with a statement today calling retail forex “the least regulated part of the derivatives industry” and called for tighter rules.