CFTC
US Regulators Look at Tightening Leverage Ratios for Overseas Customers
- CFTC Chairman Timothy Massad on Wednesday told lawmakers at a House hearing that the regulatory commission is considering how much firms can expose themselves to highly-leveraged trades made by clients outside the US.
Thursday, 12/02/2015 | 08:47 GMT by
Kenny Mariasin
PFG Customers Gain Relief as CFTC Orders US Bank National Association to Pay $18 Million
- A US court has placed a permanent injunction against US Bank National & ordered it to pay $18 million to PFG’s clients, the custodian and clearing bank was found guilty of mishandling client money held in segregated bank accounts.
Wednesday, 04/02/2015 | 18:31 GMT by
Adil Siddiqui
FX Options Scam Charged by US Court - $2.16 Million Penalty and Trading Ban
- A US court has issued a charge against two individuals and a company for misdoings. The two were charged $2.16 million for FX derivatives fraud and handed down a permanent trading ban.
Wednesday, 21/01/2015 | 23:24 GMT by
Adil Siddiqui
CFTC Commissioner Firmly Supports Enhancing Retail Forex Regulation
- Amid the news of clients and brokers losing funds during the recent CHF event, regulatory changes are expected as the OTC nature of forex trading is being questioned. These are Sharon Bowen's views.
Wednesday, 21/01/2015 | 19:59 GMT by
Adil Siddiqui
Market Volatility Pushes US Retail Forex Up 4.3% in November
- The american's regulator's metrics reflects an uptake in the total value of client funds in the retail sector, most notably at FXCM, Interactive brokers and KCG. Total funds topped $630 million.
Wednesday, 14/01/2015 | 18:53 GMT by
Adil Siddiqui
CFTC Warns Court against Granting Investor Protections to FX Traders
- The American Commodity Futures Trading Commission (CFTC) came out in court against a hedge fund’s demand for priority repayment from Lehman Brothers of its OTC FX trading under the Securities Investor Protection Act.
Tuesday, 13/01/2015 | 13:41 GMT by
Avi Mizrahi
Allied Markets LLC Charged by CFTC for $1 Million Forex Ponzi Scheme
- A court order has mandated all of the assets of allegedly fraudulent commodity pool operator, Allied Markets LLC, to be frozen and charged the firm and its principals Joshua Gilliland and Chawalit Wongkhiao.
Tuesday, 13/01/2015 | 08:33 GMT by
Victor Golovtchenko
Texas Court Issues Penalty against Unregulated Steven Scott for Fraud and Misappropriation
- A US-based unregistered trader has been found guilty of committing fraud and operating an unauthorised pool scheme. Steven Scott was ordered by a court to pay restitution and a monetary penalty to settle the charges.
Monday, 22/12/2014 | 22:47 GMT by
Adil Siddiqui
Deutsche Bank Securities Settles $3 Million Charges with US Regulator for Several Violations
- CFTC issues financial penalty to Deutsche Bank Securities for breaching a number of guidelines. The CFTC noted that the firm settled charges for violations including improper segregation of client money.
Monday, 22/12/2014 | 18:32 GMT by
Adil Siddiqui
AlphaMetrix Settles with CFTC for $5.6 Million, Unlikely to Ever Be Paid
- Alphametrix LLC has settled with the U.S. Commodity Futures Trading Commission after the regulator filed a lawsuit against the firm for using client funds to support its ailing finances last year.
Thursday, 18/12/2014 | 15:46 GMT by
Victor Golovtchenko
Guaranteed-Returns Fraudster Fined $2.5 Million and Banned by CFTC
- A US fund manager has been charged by the country's financial watchdog for misleading investors. A federal court has ordered Daniel Steele and his firm Champion Management International to pay over $2.5 Million in fines.
Tuesday, 16/12/2014 | 18:28 GMT by
Adil Siddiqui
First Regulated Bitcoin Exchange LedgerX’s Application Gets Public Consultation by CFTC
- The CFTC has issued a note requesting public comments on the dynamics of the first Bitcoin derivatives exchange that specialises in financial options contracts. The firm submitted its application in October.
Monday, 15/12/2014 | 19:11 GMT by
Adil Siddiqui
CFTC Issues IBFX with $600,000 Penalty for Failure to Meet Minimum Net Capital Requirements
- The CFTC requires IBFX to pay a $600,000 monetary penalty and to develop an automated system that will enable the real-time monitoring of its exposure, and adopt risk management procedures regarding 24-hour monitoring.
Wednesday, 10/12/2014 | 20:01 GMT by
Avi Mizrahi
American Watchdog Hits FXDD with Another $500,000 Fine, Limits It to Operate Only as IB
- The company behind the U.S entity of FXDD, New York based FXDirectDealer LLC, has settled to pay another $500,000 for inadequate anti-money laundering program and failure to supervise operations and employees.
Wednesday, 10/12/2014 | 19:13 GMT by
Avi Mizrahi
Bitcoin Picks: BitPay Enlists New Partners, Bitcoin Mining Difficulty Wanes
- A variety of developments transpired this week across the bitcoin realm, which included BitPay adding DriveWealth and Xsolla as partners, while bitcoin mining difficulties declined for the first time since 2013.
Saturday, 06/12/2014 | 10:05 GMT by
Jeff Patterson
Dodd-Frank Violations Lead to a $1.3 mln Fine for Gold Distributors Inc
- A Federal Court ordered the company and its owner Jordan Cain to pay restitution and civil monetary penalty for violating Dodd-Frank Amendments to the Commodity Exchange Act between January 2012 and February 2013.
Friday, 05/12/2014 | 17:42 GMT by
Victor Golovtchenko
CFTC Commissioner: We have authority to take action against bitcoin price manipulation
Tuesday, 18/11/2014 | 14:57 GMT by
Leon Pick
Banks Face Judgment Day As FXCM Strengthens US Market Foothold
- This week’s “Best Stories” edition explores the true meaning and possible consequences of the much awaited FX rates manipulation fines, along with interesting findings from CFTC's September retail fx report.
Saturday, 15/11/2014 | 22:01 GMT by
Jeff Patterson
Despite the Regulatory Rigmarole, It’s All Just Business for FX Riggers and the Market Triggers
- The 'Trifecta' of regulatory agencies has missed one thing: front-office bankers are working in a savagely competitive environment founded on a performance-ranked hierarchy that breeds the desire to cheat.
Thursday, 13/11/2014 | 20:49 GMT by
George Tchetvertakov
US OCC Adds $1 Bln to Forex Fines, City & JPMorgan Chase Bills Surpass One Billion
- The U.S. Office of the Comptroller of the Currency announced fines against the Bank of America, Citibank and JPMorgan Chase today totaling to $950 million in relation to “unsafe or unsound practices” related to FX.
Wednesday, 12/11/2014 | 20:01 GMT by
Victor Golovtchenko
US CFTC Obtains Orders for a Record $3.27 Bln in Monetary Sanctions for Fiscal 2014
- However, the U.S. Commodity Futures Trading Commission is not providing data about the actual number in collected fines, an effort which is led by the U.S. Department of Justice and the U.S. Department of Treasury.
Tuesday, 11/11/2014 | 13:42 GMT by
Victor Golovtchenko
FXCM Increases US Market Share by 3% after IBFX MT4 Acquisition, FCM Data Reveals
- Total retail forex funds shed another 2% in September as volatility goes up, CFTC data shows. IBFX's MT4 accounts contributed between $15-20 million to FXCM's book, bringing its U.S. market share to 36%.
Tuesday, 11/11/2014 | 09:41 GMT by
Victor Golovtchenko
Owner of S&P 500 Futures Trading System Website Gets $210,000 Penalty
- The U.S. Commodity Futures Trading commission has previously charged Neal E. Hall with failing to register as a commodity trading advisor (CTA) and failure to post cautionary statements on his website.
Tuesday, 28/10/2014 | 00:57 GMT by
Victor Golovtchenko
Financial Robotics Ordered by CFTC to Pay $3 Mln for 'Risk Free' Forex Fraud
- Mark E. Rice and his company Financial Robotics get another fine, however chances are slim that these hefty fines will be ever paid back since Mr Rice has already to pay $1.5 million from a January 2014 order.
Friday, 24/10/2014 | 16:25 GMT by
Victor Golovtchenko
CFTC FCM Data: US Retail Forex Funds Drop 2% in August, Interactive Brokers Steady
- GAIN Capital lost the most and FXCM kept increasing its market share, now firmly holding a third of the total U.S. foreign exchange market, while IB’s market share rose by a full percentage point to 7%.
Wednesday, 15/10/2014 | 22:10 GMT by
Victor Golovtchenko
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