CFTC ACTION: New Golden Investment Group, LLC

The CFTC announced that it charged Ruben Gonzalez , Jose C. Naranjo, and their company, New Golden Investment Group, LLC (NGI) of West Covina, with fraud and misappropriation in connection with a multi-million dollar Ponzi scheme. The CFTC also announced that it obtained an emergency order from Judge...

CFTC reestablishes the Technology Advisory Committee

The CFTC approved the reestablishment of a Technology Advisory Committee (TAC), which is charged with keeping the Commission abreast of new technologies that will assist the federal agency to better oversee the derivatives markets. Commissioner Scott D. O’Malia, the newest Commissioner, confirmed last...

NFA ACTION: Integrity FX LLC

The NFA accepted a settlement offer from Integrity FX LLC (IFX) and one of its principals, Luke M. Coleman, to permanently withdraw from NFA membership. IFX is a Commodity Trading Advisor located in Riverside, California. The Decision, issued by an NFA Hearing Panel, is based on an NFA Complaint filed in...

CFTC Economist Theorizes High-Frequency Traders Can Tame Prices

CFTC Economist Theorizes High-Frequency Traders Can Tame Prices By Sarah N. Lynch, Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- An economist at the Commodity Futures Trading Commission is trying to determine if some high-frequency trading strategies in futures contracts tied to the Standard &...

CFTC ACTION: Jeff Shalhoub Investments

The CFTC charged Jeffrey Shalhoub and his company, Jeff Shalhoub Investments, with operating a commodity futures Ponzi scheme. According to the CFTC complaint, filed on May 17, 2010, in the U.S. District Court for the Eastern District of New York, Shalhoub solicited approximately $300,000 from at least 12...

Preliminary Findings Regarding the Market Events of May 6, 2010

The CFTC and SEC released preliminary findings related to the unusual market events on May 6, 2010. At this point, investigation is focused on the following working hypotheses and findings: (1) possible linkage between the precipitous decline in the prices of stock index products such as index ETFs and the...

NFA ACTION: Carlo Scevola

The NFA issued a Complaint charging Carlo Scevola, a commodity trading advisor (CTA) located in London, England, with failing to cooperate with NFA in its inquiry of his operations and his performance claims, of representing to a participant in Resolute Capital Growth Fund Ltd. that the fund had lost all of...

Application Procedure for a Regulation 30.10 Exemption

The CFTC announced the publication of an informational and guidance document regarding the application procedure pursuant to CFTC Regulation 30.10. Regulation 30.10 generally provides that persons located and doing business outside the U.S. and who are subject to a comparable regulatory framework in the...

Joint CFTC-SEC advisory committee on emerging regulatory issues

The establishment of the Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues was one of the 20 recommendations included in the agencies’ harmonization report issued last year. The joint committee will develop recommendations on emerging and ongoing issues relating to both agencies. The...

NFA Notice to Members

Notice to Members I-10-12 May 11, 2010 In 1997, the Commodity Futures Trading Commission (CFTC) delegated the review of disclosure documents submitted by commodity pool operators (CPO) and commodity trading advisors (CTA) to NFA. The Division of Clearing and Intermediary Oversight (DCIO) performs periodic...