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Retail FX

US Court Hits FX and Binary Options Pool Fraud with $29M in Penalty

  • The scheme operated for five years.
  • The operators misappropriated funds and made Ponzi payments.
by Arnab Shome
Regulation

CFTC Adds 34 Illegal FX and Binary Options Platforms to the RED List

  • These platforms are operating in the US without a license.
  • Several of these platforms are now down.
by Arnab Shome
Retail FX

CFTC Sanctions Commodity Pool Operator with $13 Million

  • David Seibert was ordered to pay $10,794,508 in restitution to victims of his scheme.
  • He allegedly accepted over $10 million from 11 participants in his scheme.
by Felipe Erazo
Institutional FX

CFTC Fines JPMorgan for Swap Reporting Failures

  • The financial services provider failed to comply with its reporting obligations as a swap dealer.
  • The CFTC also highlighted the importance of timely reporting of swap transactions.
by Bilal Jafar
Retail FX

CFTC Charges South African Pool Operator in Its Largest BTC Fraud Case

  • Steynberg and MTI defrauded investors of more than $1.7 billion.
  • The investors were non-eligible contract participants (ECPs).
by Solomon Oladipupo
Institutional FX

CFTC Slams $1.37m Fine on Starberry for Acting as FCM without a Permit

  • Starberry accepted more than $400 million from a foreign customer.
  • The corporation is to disgorge the 'unlawful' earnings.
by Solomon Oladipupo
News

CFTC Sues Crypto Exchange Gemini for Sharing Misleading Information

  • The shared information was related to a Bitcoin futures product.
  • The exchange has decided to flight the legal battle in the court.
by Arnab Shome
Regulation

CFTC Commissioner Seeks Crypto Regulation after Terra Collapse

  • The Terra collapse has expedited the need for crypto regulations.
  • Regulators and lawmakers are evaluating if stablecoins fall under derivatives.
by Arnab Shome
Institutional FX

Glencore Settles US Market Manipulation Charges Paying $1.18 Billion

  • The company is now facing two criminal charges in the country.
  • It also indicated pleading guilty to bribery charges in the UK.
by Arnab Shome
Retail FX

CFTC Busts $44 Million Ponzi Crypto Investment Scheme

  • The alleged perpetrators defrauded at least 170 investors.
  • They have targeted investors at least since January 2021.
by Arnab Shome
Executives

CFTC Commissioner Announces Three Staff Appointments

  • Chris Lucas, Terry Arbit and Elizabeth Mastrogiacomo were appointed by the CFTC.
  • The CFTC Commissioner made the announcement.
by Felipe Erazo
Retail FX

CFTC Charges American Resident in $59 Million Illegal FX Scheme

  • The authority has charged Eddy Alexandre and his company.
  • Alexandre guaranteed 5% weekly returns to customers.
by Bilal Jafar
Retail FX

FTX’s Futures Trading Plan Attracts Wall Street Critics

  • The FIA pointed out shortcomings in its feedback to the CFTC.
  • The CFTC received industry feedback until 11 May.
by Arnab Shome
Institutional FX

CFTC Continues Crackdown, Busts $543K FX Ponzi Scheme

  • The scheme defrauded at least seven pool participants.
  • The funds were used for personal expenses and Ponzi-styled payouts.
by Arnab Shome
News

BitMEX Co-Founders Slapped with $30 Million Fine

  • Each of them has to pay $10 million.
  • They are now waiting for sentencing on criminal charges.
by Arnab Shome
Executives

CFTC Announces Three Executive Staff Appointments

  • Bruce Fekrat, Natasha C. Robinson Coates, and Lillian A. Cardona were chosen.
  • Further executive staff announcements will be made soon by Commissioner Johnson.
by Felipe Erazo
Institutional FX

US Regulators Charge Archegos Capital for $10 Billion Swap Loss

  • The SEC says its investigation is ongoing.
  • The CFTC asks for restitution for defrauded swap counterparties.
by Solomon Oladipupo
Retail FX

US Regulators Move against $15.7M Forex Trading Scheme

  • Both SEC and CFTC filed civil complaints against the companies and the owner.
  • The owner of the firms collected and misappropriated the investor funds.
by Arnab Shome
Regulation

US Federal Court Orders Trader to Pay Manipulative Scheme Penalties

  • Final judgments and consent orders have been issued against James Vorley and Cedric Chanu.
  • A civil monetary penalty of $150,000 is imposed on each defendant.
by Felipe Erazo
Retail FX

Australian Futures Exchange FEX Global Gains CFTC Registration

  • It can now operate in several US derivatives markets.
  • The platform is regulated by ASIC in Australia.
by Arnab Shome
Retail FX

CFTC Receives Consent Order from $7.2M Forex and Crypto Fraudsters

  • The scam defrauded at least 322 investors.
  • The regulator is yet to decide on monetary penalties and restitution.
by Arnab Shome
Institutional FX

US Court Fines Kentucky Men $5m for Commodity Futures Pool Fraud

  • Men defraud investors of $1.2 million in 2013.
  • Court orders permanent trading and registration ban.
by Solomon Oladipupo
Retail FX

Chicago Trader to Pay $377,000 for Forex and Commodity Fraud Charges

  • Trader's company was part of the consent order issued by a court in Illinois.
  • The order permanently prohibits further violations of the CEA and CFTC
by Felipe Erazo
News

CFTC Files Charges against Four Operators of $44 Million Crypto Ponzi

  • People from Florida, India, North Carolina and New York are involved in the scheme.
  • The website used for the Bitcoin Ponzi was dubbed 'JetCoin'.
by Felipe Erazo
Retail FX

Alista Group Executives Fined $1.6M for Precious Metal Fraud

  • They misappropriated customer funds and ran a Ponzi-styled scheme.
  • The regulator first brought charges against the scheme in July 2020.
by Arnab Shome
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