Futures | Commodities | Forex
FCM principal barred from NFA
Posted by Felix Shipkevich on Sep 14, 2011 Posted by Felix Shipkevich on Sep 14, 2011 in CFTC, Enforcement Actions, Featured, Forex, Futures Commission Merchant, National Futures Association ("NFA"), Social Media | 0 comments
The Appeals Committee of the NFA has announced a decision to bar Robert F. Gray, principal of ex-Futures Commission Merchant (“FCM”) Forex Liquidity, permanently from NFA Membership. The FCM and Forex Dealer Member is currently under receivership in California. According to the NFA, during a...Hunter and CTAs charged with futures and forex fraud
Posted by Elan Mendel on Sep 12, 2011 Posted by Elan Mendel on Sep 12, 2011 in CFTC, Commodity Trading Advisor ("CTA"), Enforcement Actions, Featured, Forex, National Futures Association ("NFA"), Regulators, Social Media | 0 comments
The CFTC has obtained an emergency order freezing the assets of Toby D. Hunter and his companies, Prestige Capital Advisors and D2W Capital Management in connection with foreign exchange (“forex”) and commodity futures solicitation fraud charges. D2W and Prestige are both registered Commodity...Gensler: Dodd-Frank swaps rules to be finalized in 2012
Posted by Felix Shipkevich on Sep 9, 2011 Posted by Felix Shipkevich on Sep 9, 2011 in CFTC, Dodd-Frank, Featured, Social Media | 0 comments
The Dodd-Frank swaps deadline has moved again. CFTC Chairman Gary Gensler gave a revised timetable for Dodd-Frank rulemaking that ends in the first quarter of 2012. The Commission also approved proposals outlining phased implementation schedules for clearing and trade execution requirements, along with...NFA sends rule submission letters to CFTC
Posted by Felix Shipkevich on Sep 6, 2011 Posted by Felix Shipkevich on Sep 6, 2011 in CFTC, Dodd-Frank, Featured, Forex, National Futures Association ("NFA"), Social Media | 0 comments
The NFA has sent four rule submission letters to the CFTC, proposing several changes and an addition to existing NFA regulations. These proposed rule changes increase forex member dues, alter the way bunched orders are allocated via a PAMM system, provide guidance on allowable slippage parameters, and adjust...CPO/CTA SureInvestment suspended in NFA emergency action
Posted by Elan Mendel on Sep 2, 2011 Posted by Elan Mendel on Sep 2, 2011 in CFTC, Commodity Pool Operator, Commodity Trading Advisor ("CTA"), Enforcement Actions, Featured, National Futures Association ("NFA"), Social Media | 0 comments
The NFA has taken emergency action against SureInvestment, LLC and Cosby Wood. SureInvestment, a registered Commodity Pool Operator (“CPO”) and Commodity Trading Advisor (“CTA”), and Wood, the firm’s Associated Person (“AP”) and principal, are suspended from NFA...Absent Gerofalo fined for illegal trading
Posted by Elan Mendel on Sep 1, 2011 Posted by Elan Mendel on Sep 1, 2011 in CFTC, Enforcement Actions, Featured, Social Media | 0 comments
The CFTC announced that a final default judgement has been entered against Carmine Gerofalo, an Italian national thought to reside in Tunisia, for illegal trades made on the CME Globex platform. On May 5th, an order was handed down by a federal judge in Illinois requiring him to pay $614,925 in restitution...CME criticizes CFTC for rushed rulemaking
Posted by Elan Mendel on Aug 31, 2011 Posted by Elan Mendel on Aug 31, 2011 in CFTC, Dodd-Frank, Featured, Social Media | 0 comments
Craig Donohue, CEO of the CME Group, sent a letter to the CFTC strongly criticizing the Commission’s approach to the rulemaking process. Donohue responded to a CFTC proposal to periodically review and revise existing regulations with a comment denouncing the Commission’s cost-benefit analysis and...FCM Tenco fined for failure to supervise
Posted by Felix Shipkevich on Aug 29, 2011 Posted by Felix Shipkevich on Aug 29, 2011 in CFTC, Enforcement Actions, Featured, Futures Commission Merchant, National Futures Association ("NFA"), Social Media | 0 comments
The CFTC has filed and settled charges against Tenco, Inc, a futures commission merchant (“FCM”) based in Chicago, IL, for failure to diligently supervise employees and agents and for placing trades without proper authorization from the account holder. The FCM has been ordered to pay $140,000 and...CPO fined for missing report
Posted by Felix Shipkevich on Aug 27, 2011 Posted by Felix Shipkevich on Aug 27, 2011 in CFTC, Commodity Pool Operator, Enforcement Actions, Featured, National Futures Association ("NFA"), Social Media | 0 comments
The CFTC has filed and settled charges against Dearborn Trading, Inc, a registered commodity pool operator (“CPO”), and the firm’s owner and principle, Joel Bronstein. The defendants failed to file a closing Annual Report (or liquidation statement) for their Dearborn Trading Fund commodity...Unregistered FCM penalized by CFTC
Posted by Elan Mendel on Aug 26, 2011 Posted by Elan Mendel on Aug 26, 2011 in CFTC, Enforcement Actions, Featured, Futures Commission Merchant, National Futures Association ("NFA"), Registration, Social Media | 0 comments
The CFTC has filed and settled charges against Craig A. Taffel for operating as an unregistered Futures Commission Merchant (“FCM”). The registered floor broker based in Chicago has been ordered to pay $180,000 in civil monetary penalty, and must cease and desist from further violations of the...
