CFTC
UBS, RBS in Talks with EU Antitrust Officials Over Swiss Franc Libor Probe
- UBS and three other banks, including RBS are negotiating with EU Antitrust officials to settle a third probe into the manipulation of benchmark rates, this time related to the Swiss Franc Libor rate.
Thursday, 23/01/2014 | 02:23 GMT by
Jeff Patterson
CFTC Establishes Working Group For Review Of Swap Transaction Data & Record Keeping
- The Commodity Futures Trading Commission has today announced the implementation of a working group which is responsible for reviewing certain swaps transaction data record keeping and reporting provisions
Tuesday, 21/01/2014 | 17:43 GMT by
Andrew Saks McLeod
CFTC Cancels Public Meeting On Algo Trading - Cites Inclement Weather As Reason
- The US Commodity Futures Trading Commission has canceled its proposed public meeting which was scheduled to be held today with regard to HFT, algorithmic trading and SEFs, citing poor weather conditions.
Tuesday, 21/01/2014 | 15:08 GMT by
Andrew Saks McLeod
Nadex Receives Certain CFTC Exemptive Relief Due To Its Different Business Model
- The IG Group subsidiary operating under the name North American Derivatives Exchange, known as Nadex, just had its request granted by the CFTC for relief from specific requirements deemed not applicable to its business.
Friday, 17/01/2014 | 22:59 GMT by
Steven Hatzakis
Forex Thief Gets 15 Years, Gambled Clients' Funds at Casino, Tried Evading Capture
- The slick forex fraudster wasn't so smooth, after unlawful conduct, including evading feds and obtaining a high quality fake Russian passport, were not enough to keep Aleksander Efrosman from getting a +15 year prison term.
Thursday, 16/01/2014 | 09:58 GMT by
Steven Hatzakis
Federal Court Ruling in Forex Fraud, $1.5M in CFTC Sanctions to Mark E. Rice of Texas
- A permanent registration/ trading ban, handed down by a Texas court, to defendant Mark E. Rice, along with $1.5 million in civil penalty's and restitution, as part of a CFTC complaint uncovering a fraudulent Forex scheme.
Wednesday, 15/01/2014 | 21:01 GMT by
Steven Hatzakis
Open House At The CFTC: Public Meeting To Be Held On Automated Trading & SEFs
- With HFT and automated trading high on the agenda in most regulatory jurisdictions, the CFTC has announced that it will hold a public meeting in Washington DC on January 21 on the subject. Will the US be anti or pro?
Wednesday, 08/01/2014 | 16:12 GMT by
Andrew Saks McLeod
Citi VP of FX Prime Brokerage Michael Mirarchi Joins ATC Brokers Ltd as CEO for UK Launch
- Owners of Avail Trading Corp (ATC) operating in Forex and Futures markets as an IB in the US, had just registered a UK-FCA authorised brokerage last August and recently appointed a new Chief Executive Officer to that entity.
Wednesday, 08/01/2014 | 10:47 GMT by
Steven Hatzakis
NFA Reporting After CFTC Ruling Aimed To Increase Investor Confidence With Registrants
- After the Commodity Futures Trading Commission ruled on final regulations pertaining to how customer's funds are treated, the NFA has informed its members on their respective reporting obligations set to go into effect.
Wednesday, 01/01/2014 | 21:55 GMT by
Steven Hatzakis
A Gentle Reminder: CFTC Issues No-Action Relief Letters to FCM Compliance Departments
- The US Commodity Futures Trading Commission has issued two no-action relief letters to FCMs detailing that they are not required to register as swap dealers with the CFTC, and that the fiscal year ends today.
Tuesday, 31/12/2013 | 19:44 GMT by
Andrew Saks McLeod
SGX Becomes Authorized By CFTC as First Asian Derivatives Clearing Organization
- Following its receiving of approval from the CFTC on Friday, the SGX has announced that it has become the first Asian firm to become authorized by a US regulator derivatives regulator as a DCO.
Tuesday, 31/12/2013 | 08:59 GMT by
Ron Finberg
Bloomberg Launches Compliance Product to Mitigate Chat Room Risk
- Aiming to provide a solution to compliance worries about multi-dealer chat room conversations, Bloomberg announced that the Compliance Center centralizes the firms existing compliance tools into a single location.
Tuesday, 17/12/2013 | 15:56 GMT by
Ron Finberg
FCM October Data Shows Uptake in Retail FX Funds
- FX brokers regulated under the Commodity Futures Trading Commission have reported their monthly financial data for October. Overall funds were up $10.4 million with 50% of brokers witnessing an increase in Retail Forex funds.
Friday, 13/12/2013 | 23:59 GMT by
Adil Siddiqui
Commodity Pool Operator Dips Into Customer's Funds Via Loan, CFTC Alleges in Filed Complaint
- CFTC Alleges Alexander Glytenko of Direct Investment Products (DIP) solicited 761 investors for $3.9M and then misappropriated customers funds via a $464,000 personal loan against the CPO pool that hasn't been repaid.
Thursday, 12/12/2013 | 20:56 GMT by
Steven Hatzakis
Volcker Rule Kicks Off Risky Bank Prop Trading
- The much awaited Volcker Rule was finally sanctioned by five US regulatory authorities. The move comes on the back of the 2008 credit crisis which saw some of the largest financial institutions file bankruptcy.
Tuesday, 10/12/2013 | 23:19 GMT by
Adil Siddiqui
Industry Associations File Lawsuit Against the CFTC Challenging the Agency on Multiple Fronts
- The Commodity Futures Trading Commission has been challenged in a Washington D.C Court by a lawsuit filed by SIFMA, ISDA and IIB, as derivatives regulations come under question by industry.
Thursday, 05/12/2013 | 17:28 GMT by
Steven Hatzakis
NADEX Undergoes Rule Enforcement Review By CFTC - Clean Bill Of Health Confirmed
- The US Commodity Futures Trading Commission has today released the results of an enforcement review which it conducted within binary options exchange NADEX, concluding that the company maintains adequate practices.
Tuesday, 19/11/2013 | 18:40 GMT by
Andrew Saks McLeod
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
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