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Regulation

18:48 October 1st 2013 in Analysis, Regulation

CFTC Targets FX Ponzi Scheme

The Commodity Futures Trading Commission (CFTC) says it has obtained a Federal court consent order of permanent injunction requiring defendants Sidney Charles, Jr and his company the Borrowing Station, from Maryland, jointly and severally to pay $254,236 in restitution and a $350,000 ...
CFTC makes a renewed effort to curb what some consider to be the excesses of automated trading. The Commodity Futures Trading Commission (CFTC) has released a “concept paper” aimed at continuing and defining the regulatory response to the increased level ...
Colin Lambert reports on efforts to establish a unified framework for regulation.  As global regulators continue to work through the process of creating a new regulatory structure, there seems to be movement on one of the overriding concerns of both ...

20:00 September 1st 2013 in Analysis, Regulation

NFA Hits FXDD Officer

The National Futures Association has fined James Green, chief compliance officer and principal of FX Direct Dealer (FXDD) $75,000 for breaching anti-money laundering (AML) practices and failing to adequately supervise FXDD’s operations. In addition to the fine, Green agreed to ...

19:59 September 1st 2013 in Analysis, Regulation

NFA Hits Interactive Brokers...

The US National Futures Association (NFA) has issued a $300,000 fine against Connecticut-based Interactive Brokers for infringing NFA rules. The Decision, issued by NFA's Business Conduct Committee, is based on Complaints filed on February 18, 2012 and July 5, 2013 and a settlement offer submitted ...
Commission (CFTC), along with CME Group and the UK Financial Conduct Authority, has fined high frequency trading firm Panther Energy Trading for “spoofing”. CFTC issued an Order filing and simultaneously settling charges against New Jersey-based Panther Energy Trading and Michael ...
A new study commissioned by State Street finds that buy-side firms are unprepared for new trading mechanisms, costs and increased complexity and should partner with established providers to adapt to an evolved OTC derivatives marketplace. The new research paper, From ...

19:11 September 1st 2013 in Analysis, Regulation

EC, CFTC Align on Rules

Industry hopes for some much needed consistency over the raft of regulation surrounding derivatives markets has been given a boost.  The European Commission (EC) and the US Commodity Futures Trading Commission (CFTC) have announced an agreement on a package of ...

18:51 July 1st 2013 in Analysis, Regulation

CFTC Hits Fraudsters

The US Commodity Futures Trading Commission (CFTC) has obtained a federal court order against Chicago-based Christopher Varlesi, individually and conducting business as Gold Coast Futures and Forex. He has been ordered to pay restitution of more than $638,000 to defrauded investors ...
Alice Attwood reports on efforts by the US regulator to close the book on two recent high profile failures. The US Commodity Futures Trading Commission (CFTC) has filed an enforcement action against MF Global, its former CEO and assistant treasurer, ...