CFTC
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
SEF Deluge Continues: CFTC Approves Application of Three Institutional Firms
- The US Commodity Futures Trading Commission has approved the applications of SwapEx, , GFI Swaps Exchange, and MarketAxess SEF Corporation for temporary registration as SEFs in accordance with the Dodd-Frank Act.
Sunday, 15/09/2013 | 10:34 GMT by
Andrew Saks McLeod
Alpari US Customer Contraction Continues in July CFTC FCM Financials
- The CFTC has posted financials for US FCM’s for the month of July. Among forex firms, the data showed a decline in customer deposits. During the month, total Retail Forex Funds dropped 1.2% to $629.75 million.
Wednesday, 11/09/2013 | 16:05 GMT by
Ron Finberg
Alex Ekdeshman Ordered To Pay $2.4 Million Plus Fine For FX Fraud
Tuesday, 10/09/2013 | 16:19 GMT by
Andrew Saks McLeod
Tradition Becomes Latest Firm to File SEF Application with CFTC
- Putting its name in the growing list of potential operators of Swap Execution Facilities (SEF), interdealer, Compagnie Financière Tradition, has announced that they have completed their SEF application with the CFTC.
Tuesday, 10/09/2013 | 08:40 GMT by
Ron Finberg
SEF Approvals Continue Whilst US Regulator Scrutinizes OTC Firm
- The CFTC yesterday announced that it has approved two applications for SEF registration from DW SEF LLC and TW SEF LLC, both subsidiaries of Tradeweb.
Tuesday, 10/09/2013 | 07:36 GMT by
Andrew Saks McLeod
CFTC Goes In Depth on Risk Control Measures For Automated Trading
- Financial markets regulators in the United States have published a concept release on risk controls and system safeguards for automated trading environments. The CFTC considers this necessary at a time of rapid technological change.
Monday, 09/09/2013 | 18:06 GMT by
Andrew Saks McLeod
Dead Man Walking? Forex in the USA
- The US Forex Market is currently at an inflection point. It has been 3 years since Dodd Frank was passed.
Monday, 09/09/2013 | 16:20 GMT by
Paul Towne
International FX Rate Conspiracy: Are Dealers Fixing Prices?
Wednesday, 28/08/2013 | 07:45 GMT by
Andrew Saks McLeod
US Authorities Ban PFG Auditor Permanently One Year After Firm Failure
- The US Commodity Futures Trading Commission has today announced that it has issued a permanent ban against Jeannie Veraja-Snelling, an external auditor and accountant acting for PFG at the time of its demise in July 2012.
Monday, 26/08/2013 | 19:14 GMT by
Andrew Saks McLeod
Want to be a Market Maker? Bitcoin Prediction Market Predictious Searching for LPs
- Want to be market maker, but don't want to become a broker? A new prediction market is looking for liquidity providers for its financial related contracts. But, there is a small catch, accounts are denominated in bitcoins.
Wednesday, 07/08/2013 | 09:26 GMT by
Ron Finberg
Appeal Denied – One World Capital Fraudsters Receive Full Sentencing
- Ponzi scheme fraudsters, John Walsh and Charles Martin, operators of defunct One World Capital saw their appeals rejected. As a result, the two continue to face long jail sentences and restitution charges in the millions.
Wednesday, 31/07/2013 | 10:23 GMT by
Ron Finberg
Small News with Potential Ripple Effects- CME Launching AUD Wheat Swaps
- The CME Group announced its intentions to launch two AUD denominated Wheat Swaps today. The proposed products that are pending CFTC approval are Chicago Soft Red Winter (SRW) and KC Hard Red Winter (HRW) wheat swaps.
Tuesday, 30/07/2013 | 12:56 GMT by
Ron Finberg
US Government To Meet With CFTC and SEC Tomorrow To Question Implementation Delays Relating to Dodd-Frank Act
- A panel of US Senators are scheduled to meet with the SEC and CFTC tomorrow in order to ascertain reasons for the implementation of the Dodd-Frank Act having taken three years to implement. A focus on OTC derivatives is expected.
Monday, 29/07/2013 | 05:16 GMT by
Andrew Saks McLeod
CFTC Welcomes Christopher Ehrman As Director of Whistleblower Office
- Subsequent to the formation of the Whistleblower Office, a department allowing the CFTC to offer a reward for reporting transgressions, the CFTC appoints Christopher Ehrman as Director of the division.
Wednesday, 17/07/2013 | 11:51 GMT by
Andrew Saks McLeod
British Research Consultancy Predicts Way Ahead For FX Market Structure As Fragmentation of Liquidity Increases
- Consultancy firm GreySpark Consulting has released a predictive report on the ways in which the structure of the FX markets could be affected by continual fragmentation of liquidity, and its effect.
Monday, 15/07/2013 | 06:50 GMT by
Andrew Saks McLeod
CFTC Posts May FCM Financials – Advanced Markets Out, Whotrades FX is In
- The CFTC has posted financials for FCMs as of the end of May. Total Retail Forex Funds were $644,593,164, a drop of $3,166,759 (-0.49%) from the end of April. The decline was mainly the result of a near $9 million drop at Oanda,
Thursday, 11/07/2013 | 10:00 GMT by
Ron Finberg
Banc De Binary Speaks Out Amid US Lawsuit - No More American Clients, But Will Regulators Continue With Proceedings?
- Further to last month's proceedings issued against Banc De Binary for allegedly engaging in the illegal activity of soliciting US clients, the firm today issued a statement that it is not accepting US clients. Outcome of lawsuit still hangs in the balance.
Saturday, 06/07/2013 | 14:01 GMT by
Andrew Saks McLeod
Institutional STP Firm Tradeweb Markets Aligns Itself with SEF Ruling - Files Application With CFTC
- US institutional firm Tradeweb Markets today submitted its application to the CFTC for the purpose of registering as a swap execution facility in accordance with the proposed Dodd-Frank Act rulings.
Thursday, 04/07/2013 | 10:21 GMT by
Andrew Saks McLeod
June Forex Industry Review: Letters Reign - MQ, BdB, FCA, CFTC & M&A
- As we enter July, we have officially hit the summer months and their accompanying slow period. June was a quasi-period with the month being active at the start but news flow began to decrease as time went on.
Wednesday, 03/07/2013 | 13:42 GMT by
Ron Finberg
Ambiguity Reigns Supreme: CFTC Removes FX Asset Class From ICE Trade Vault Before Final Reporting Rulings Set
- Ahead of final rulings on trade reporting, US regulatory authority CFTC has approved an order to remove the foreign exchange asset class from the ICE Trade Vault after having granted registration last year.
Wednesday, 03/07/2013 | 08:06 GMT by
Andrew Saks McLeod
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