CFTC Obtains $340,000 Penalty Against Trans Global for Commodity Fraud

The U.S. Commodity Futures Trading Commission (CFTC) announced today that a Federal Court in Nevada has ordered Trans Global Investments, LLC to pay $340,000 to settle commodity pool fraud charges. The defendants, including Charles Leroy Timberlake, Trans Global’s President, are now permanently barred from...

CFTC Penalizes Mizuho in Year’s First Cross-Border Violation

The U.S. Commodity Futures Trading Commission (CFTC) today filed and settled charges against Mizuho Securities of New York for regulatory violations. Among these: Mizuho apparently failed to notify the CFTC of secured fund deficiencies and to “diligently supervise its employees.” As a result of the...

CFTC Enforcement Watch for 2013: Commodity Pool Scams, Rate-Rigging…

If the final quarter of 2012 is any indication, the U.S. Commodity Futures Trading Commission (CFTC) will continue to pursue commodity pool scams, failed registration, and rate-rigging enforcement in 2013. CFTC Enforcement for 2013 To close the year, the CFTC issued enforcement actions against a number of...

CFTC’s Gensler, Chilton, O’Malia Speak on Historic Libor Settlement

The three most vocal regulators at the CFTC have issued statements on their historic settlement with UBS over Libor-rigging. The settlement amounted to $1.5 billion. CFTC Chairman Gensler on UBS Penalty “Regrettably,” said CFTC chairman Gary Gensler, “with the announcement today of the CFTC findings...

CFTC, Libor Usher in New Era of Financial Penalties

The U.S. Commodity Futures Trading Commission (CFTC), in conjunction with the fallout from the Libor scandal, has recently upped the ante for financial penalties. The new fervor on the part of regulators to exact financial penalties is embellished by today’s announcement that UBS AG, accused of...

CFTC Charges Arista LLC with $9.5 Million Commodity Pool Fraud

The U.S. Commodity Futures Trading Commission (CFTC) today filed an enforcement action against Arista LLC, a registered commodity pool operator (CPO) based in California. The enforcement action alleges that Arista LLC principals Abdul Sultan Waliji and Reniero Francisco defrauded investors, made false...

After Latest Goldman Violation, CFTC’s Chilton Wants Harsher Penalties

U.S. Commodity Futures Trading Commission (CFTC) commissioner Bart Chilton has renewed his call for Congress to raise the maximum civil monetary penalty for entities and persons who violate financial regulation. In a statement released Friday, Chilton dissented from the CFTC’s statement on recent...

CFTC Struggles to Find the Rhythm of Regulation

The U.S. Commodity Futures Trading Commission (CFTC) is struggling to find a rhythm for new rules meant to curb systemic risk in the financial system. Bloomberg is now reporting that the CFTC may delay derivatives compliance rules for overseas wings of U.S. Banks JPMorgan Chase & Co. and Goldman Sachs...

CFTC Cracks Down on Commodity Pool Ponzi Schemes

The U.S. Commodity Futures Trading Commission (CFTC) issued a statement yesterday announcing that Judge Edward J. Lodge of the U.S. District Court of Idaho entered a permanent injunction requiring Trigon Group, Inc, to return $20.6 million in ill-gotten gains. Trigon is accused of operating a commodity pool...

CFTC Update: Federal Court Orders Forex Capital, Highland Stone Capital to Pay $1.8m

The U.S. Commodity Futures Trading Commission (CFTC) has issued a report stating that Judge Katherine Forest of the U.S. District Court for the Southern District of New York has ordered Forex Group, Forex Partners, and Highland Stone to pay more than $1.8 million in penalties and ill-gotten gains. The order...
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