Barclays vs. FERC over LIBOR: The Pre-Game Warm Up
Posted byFelix Shipkevich on Nov 5, 2012 in Enforcement Actions, Featured, Restricted, Social Media | 0 comments
Barclays will fight its gigantic penalty from U.S. energy regulators by arguing that its traders did not carry out the rigging scheme they are accused of by FERC. The Federal Energy Regulation Commission (FERC) is bringing a $470 million penalty against Barclays for rigging the LIBOR interest rate index....NFA Returns Peregrine Fine
Posted byFelix Shipkevich on Sep 12, 2012 in Enforcement Actions, Featured, Futures Commission Merchant, National Futures Association, Restricted, Social Media | 0 comments
In a gesture intended to help Peregrine Financial Group’s former clients and other creditors recover more of their funds, the National Futures Association (NFA) has returned a fine levied on the troubled brokerage in February, a spokesman for the agency said. The $700,000 fine, part of a settlement related...CPO/CTA Charged With Fraudulent Allocation Scheme
Posted byFelix Shipkevich on Aug 24, 2012 in CFTC, Commodity Pool Operator, Commodity Trading Advisor, Enforcement Actions, Featured, Regulators, Restricted, Social Media | 0 comments
The CFTC has filed a federal civil enforcement action against Donald A. Newell and his company Quiditty, LLC (a registered CPO and CTA), charging them with fraudulently allocating commodity futures and options trades to a proprietary account at the expense of customer accounts managed by the firm. According...Investigators Piece Together PFGBest’s Investments
PFGBest’s Auditor Comes Under Fire
Posted byFelix Shipkevich on Jul 12, 2012 in CFTC, Enforcement Actions, Featured, Futures Commission Merchant, National Futures Association, Restricted | 0 comments
Regulators are now investigating why Iowa-based brokerage PFGBest employed Veraja-Snelling Company, a tiny accounting firm based in Illinois, to audits its books. The accounting firm appeared to be operating from a residential home in the suburbs of Chicago. PFGBest is a futures brokerage with over $500...CFTC Orders Barclays to Pay $200 Million
Posted byFelix Shipkevich on Jun 27, 2012 in CFTC, Enforcement Actions, Featured, Regulators, Restricted | 0 comments
The CFTC issued an order today filing and settling charges against Barclays PLC, Barclays Bank PLC and Barclays Capital Inc. for attempting to manipulate and making false reports concerning the LIBOR and Euribor benchmark interest rates between 2005 and 2009. According to the order, Barclays also asked other...CFTC Charges Trader with Commodity Fraud
Posted byElan Mendel on May 24, 2012 in CFTC, Enforcement Actions, Featured, Restricted | 0 comments
The U.S. Commodity Futures Trading Commission (CFTC) brought charges today in the U.S. District Court for the Northern District of Illinois, charging Bradley Scott Schiller with solicitation fraud, misappropriating investor funds and issuing false statements in the course of soliciting over $7.8 million from...CFTC Obtains Injunction Against Former Floor Broker for Margin Call Avoidance Scheme
Posted byElan Mendel on May 23, 2012 in CFTC, Enforcement Actions, Featured, Restricted | 0 comments
The Commodity Futures Trading Commission (CFTC) has obtained an injunction against Kent R.E. Whitney, a former floor broker of Chicago, Ill., to pay a $600,000 civil monetary penalty for making false and misleading statements to Chicago Mercantile Exchange (CME representatives, futures commission merchants,...Court rejects request to block access to MF Global insurance funds
CFTC charges Optiver for manipulation of NYMEX oil contracts
Posted byFelix Shipkevich on Apr 23, 2012 in CFTC, Enforcement Actions, Regulators, Restricted | 0 comments
The CFTC announced that it would obtain $14 million in civil monetary penalties and disgorgement against Optiver Holding BC, a Netherlands-based global proprietary trading company, two subsidiaries, and three of its company officers. The CFTC charged the defendants with engaging in manipulation and attempted...