CFTC
CFTC Orders MF Global to Pay $1 Billion in Restitution in Connection with Customer Losses
- In one of the largest recent failures of a Futures Commission Merchant that has been the subject of controversy following its demise, victims have been awarded a degree of justice as the defendant is forced by law to make good.
Monday, 18/11/2013 | 17:22 GMT by
Steven Hatzakis
CFTC Publishes Final Rules Pertaining to How FCMs and DCOs Hold Customer Funds
- The Financial watchdog of the the U.S Commodity Futures and Derivatives markets has published a set of finalized rules - some of which go into effect on January 14, 2014 and referencing others that are already in effect.
Friday, 15/11/2013 | 00:35 GMT by
Steven Hatzakis
Obama Quick to Appoint Timothy Massad to Chair CFTC, as Agency Looses Key Executives
- Following departures at the CFTC, U.S. President Barack Obama announced yesterday the appointment of a new Chairman of the Commodities Futures Trading Commission, as his intention to maintain strict regulations remains.
Wednesday, 13/11/2013 | 14:16 GMT by
Steven Hatzakis
Californian FX Fraudster Ordered To Pay $17 Million In Penalties, Plus Jail Term
- The US Commodity Futures Trading Commission has today announced that it has obtained a federal court order against FX fraudster Lyndon Parilla, who must pay $17 million, plus sit out a 97 month jail term.
Tuesday, 12/11/2013 | 20:27 GMT by
Andrew Saks McLeod
AlphaMetrix Saga Continues, CFTC Obtains Restraining Order Over Fraud
- After falling under the NFA's wrath for failing to pay rebates to fund partners, the CFTC has received a court order against AlphaMetrix Group for its involvement of misappropriation and financial fraud.
Thursday, 07/11/2013 | 09:35 GMT by
Ron Finberg
Commodity Futures Trading Commission Waves Goodbye To Commissioner Bart Chilton
- Outspoken critic of the commodities and futures trading industry over which he presides, Bart Chilton announced surprisingly that he has submitted his resignation as CFTC Commissioner to the White House.
Wednesday, 06/11/2013 | 16:09 GMT by
Avi Mizrahi
Futures Broker Jeffrey Gustaveson To Pay $1.2M Penalty for CPO Fraud Uncovered by CFTC
- Federal Court orders California man permanent ban from CFTC/NFA, and to provide $410K in restitution and $1.2M penalty in connection with fraud, misappropriation and issuing false statements in a $2.5M commodity pool.
Tuesday, 29/10/2013 | 22:50 GMT by
Steven Hatzakis
CFTC Issues $400,000 Penalty For FX Fraud and Misappropriation of Funds
- The US Commodity Futures Trading Commission has today announced the citation of three individuals and their associated firms for committing FX fraud and misappropriating customer funds.
Tuesday, 29/10/2013 | 17:53 GMT by
Andrew Saks McLeod
Twin Fines From CFTC and FCA Hit Rabobank, Ordered To Pay $643 Million, CEO to Resign
- Part of an ongoing investigation into LIBOR price manipulations among major global broker’s and banks; the CFTC and FCA have announced the issuing of an Order against Rabobank, requiring them to pay $643 million.
Tuesday, 29/10/2013 | 13:52 GMT by
Ron Finberg
August Forex Obligations Held by FCMs Little Changed Over July for Retail Foreign Exchange Dealers
- Last month data from the CFTC revealed that Futures Commission Merchants who act as Retail Foreign Exchange Dealers had a combined $629 million in forex obligations which hovered steady over the previous month.
Friday, 25/10/2013 | 20:37 GMT by
Steven Hatzakis
CFTC Enforcements in FY2013 Totaled a Record $1.7Billion in Monetary Sanctions Across 82 Actions
- The regulatory agency responsible for overseeing the U.S. commodities futures markets and that recently received new authority under the Dodd-Frank Act, has reported record totals from its enforcement division.
Friday, 25/10/2013 | 14:01 GMT by
Steven Hatzakis
CFTC Provides Relief to SEF applicants GTX SEF LLC and LatAm LLC Until November 19th
- Relief extended by CFTC to recent swap execution facility applicants who requested to buy time via no-action letters, in wake of October deadline and overlapping government shutdown which delayed processing.
Friday, 18/10/2013 | 11:23 GMT by
Steven Hatzakis
FBI Steps In: United States Launches Criminal Investigation On FX Manipulation
- Following recent investigations by the FCA and FINMA relating to FX LIBOR benchmark manipulation by financial institutions, the US has opened a criminal investigation on the matter involving the FBI.
Monday, 14/10/2013 | 08:17 GMT by
Andrew Saks McLeod
Effects of US Government Shutdown on FX Industry: CFTC Asks NFA to Update Members
- The CFTC is currently operating with limited scope following the governmental shutdown, and has informed NFA to send a message on its behalf to members. Antideficiency Act provides relief for CFTC & SEC Continuity.
Tuesday, 08/10/2013 | 14:10 GMT by
Steven Hatzakis
Playing It SEF: ICE Swap Trade Goes Live In Anticipation of Approaching CFTC Deadline
- Subsequent to last week's approval by the CFTC of ICE Swap Trade's application to register as an SEF, the company has today announced that its swap execution facility has gone live.
Thursday, 03/10/2013 | 13:23 GMT by
Andrew Saks McLeod
CFTC Loses Chief of Enforcement Responsible For Bringing Hundreds of Cases in Recent Years
- The CFTC says goodbye to Chief of Enforcement David Meister, who during his three year tenure was responsible for a plethora of enforcement actions. Ms. Gretchen L. Lowe is to succeed his position.
Tuesday, 01/10/2013 | 09:29 GMT by
Steven Hatzakis
CFTC Issues FXDD With $275,000 Penalty For Violating Capital Adequacy Rules
- Regulatory authorities in the United States are becoming notorious for insistance that FX firms maintain sufficient net capital. Today, the CFTC issued FXDD a $275,000 penalty for contravening such rules.
Monday, 30/09/2013 | 20:20 GMT by
Andrew Saks McLeod
ICAP & Thomson Reuters Announce CFTC Approval of Swap Execution Facilities
- The CFTC continues to demonstrate its efficiency in approving SEFs, with the applications of two major instititutional firms, ICAP and Thomson Reuters being granted temporary SEF status on the same day.
Monday, 30/09/2013 | 13:50 GMT by
Steven Hatzakis
CFTC Orders R.J. O'Brien To Pay $125,000 For Misuse Of Omnibus Account
- The US Commodity Futures Trading Commission has issued R.J. O'Brien with a $125,000 fiscal penalty for violation of customer protection regulations, in this case due to funds transferred between omnibus accounts.
Sunday, 29/09/2013 | 14:35 GMT by
Andrew Saks McLeod
CFTC Censures Daniel K. Steele For $1.7 Million FX Fraud
- The US Commodity Futures Trading Commission has today issued proceedings against mid-western FX firm Champion Management International and its owner Daniel K. Steele for carrying out a $1.7 million FX fraud.
Thursday, 26/09/2013 | 20:12 GMT by
Andrew Saks McLeod
CFTC Orders ICAP To Pay $65 Million Penalty For Manipulating Yen LIBOR
- Interdealer broker ICAP has been issued with a $65 million civil monetary penalty by the CFTC today for manipulation, false reporting and attempting to manipulate the Yen LIBOR rate.
Wednesday, 25/09/2013 | 13:18 GMT by
Andrew Saks McLeod
CFTC Fines IB Foremost Trading $400,000 For Supervision Shortcomings
- American introducing broker Foremost Trading has been issued with a $400,000 civil monetary penalty by the CFTC as a result of deficiencies in its supervision of the handling of trading accounts.
Monday, 23/09/2013 | 10:21 GMT by
Andrew Saks McLeod
Pay Up, Says Uncle Sam! FXDD Ordered To Pay Penalties As Case Draws To A Close
- After over a year's worth of legal pursuit by the US authorities, the NFA and CFTC's cases against FXDD have today drawn to a close with FXDD liable for substantial fines and $1.8 million in restitution.
Wednesday, 18/09/2013 | 20:14 GMT by
Andrew Saks McLeod
Regulatory Veteran Vincent A. McGonagle Appointed Director of CFTC Division of Market Oversight
- Continuing his 16 year career at the US Commodity Futures Trading Commission, it was yesterday announced that Vicent A. McGonagle has been appointed Director of the CFTC's Division of Market Oversight.
Tuesday, 17/09/2013 | 09:21 GMT by
Andrew Saks McLeod
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