CFTC ACTION: Lodge Capital Group, LLC

The CFTC charged Jay C. Nolan of Wilmette, Ill. and his company, Lodge Capital Group, LLC with commodity pool fraud. According to the complaint, from at least December 2004 to the present, the defendants fraudulently solicited approximately $3.9 million from at least five individuals. The complaint charges...

CFTC ACTION: Scotia Capital Inc.

The CFTC issued an order filing and simultaneously settling charges against Scotia Capital Inc., for prearranging trades in the natural gas futures contract on the New York Mercantile Exchange (NYMEX) during November and December of 2006. The CFTC order imposes a $250,000 civil monetary penalty on SCI, an...

CFTC ACTION: Pinemore, L.P. and Birchmore, L.P.

The CFTC issued an order filing and simultaneously settling charges against Pinemore, L.P. and Birchmore, L.P. , two Canadian limited partnerships based in Calgary, Alberta, Canada, for engaging in unlawful wash sales in the natural gas futures contract on the New York Mercantile Exchange (NYMEX) during...

FSA ACTION: Sett Valley Insurance Services

The FSA gave Sett Valley Insurance Services a Decision Notice on 27 January 2010 which notified Sett Valley that pursuant to section 206 of the Financial Services and Markets Act 2000, and on the basis that Sett Valley has agreed to undertake certain remedial action, the FSA had decided to impose a...

NFA ACTION:Kingz Capital Management Corporation

On September 30, 2009, NFA issued a Complaint charging Kingz Capital Management Corporation and its principal and associated person David M.S. Krywenky with failure to uphold high ethical standards and failure to supervise. The Complaint also charged KCM with cheating, defrauding or deceiving another...

NFA ACTION: Muirfield Capital LLC

The NFA ordered Muirfield Capital LLC to withdraw from NFA membership. If Muirfield reapplies for NFA membership, it was ordered to pay a $10,000 fine, payable when it reapplies for NFA membership. Muirfield’s application for NFA membership will not be processed until the fine has been paid in...

DFSA to host Islamic Financial Services Board seminar

The Islamic Financial Services Board (IFSB) is organizing its 5th Seminar on the Regulation of Takaful on 22nd and 23rd February 2010, at the Emirates Towers Hotel, in Dubai. The DFSA will be hosting the Seminar.

Proposals to ensure that mortgage holders in arrears are treated fairly

The FSA set out a package of measures that will help to ensure that mortgage holders in arrears are treated fairly and which reinforces the FSA’s tough stance in its battle against mortgage fraud. The key arrears proposals:Make plain that firms must not add early repayment charges on arrears charges and...

CFTC grants ICE Clear Europe Limited registration as a DCO

The CFTC granted ICE Clear Europe Limited (ICE Clear Europe) registration as a derivatives clearing organization (DCO) pursuant to Section 5b(b) of the Commodity Exchange Act. ICE Clear Europe is a private limited company organized under the laws of England and Wales. Pursuant to an order that the Commission...

BOJ may ramp up fiscal policy actions

Bank of Japan policy makers are prepared to consider expanding an emergency-loan program for banks and increasing purchases of government debt should the recovery falter, people with knowledge of the matter said. “Should a rise in the yen threaten to damp corporate and consumer sentiment and exacerbate...