Fed Re-evaluating Commodities Control Ruling

The Federal Reserve announced that they will be reviewing their rulings regarding Banks trading commodities after receiving complaints. Since the Bank Holdings Act, which is over 50 years old, deposit holding banks have been disallowed from directly holding commodities. But in 2003, the Federal Reserve put...

Stephen O’Connor Leaves Morgan Stanley to Become Full-Time ISDA Chairman

Stephen O’Connor is resigning from his position at Morgan Stanley to join the International Swaps and Derivatives Association, Inc (ISDA) as a full-time Chairman. With this new position, O’Connor will have a more  hands-on approach in driving ISDA’s strategic initiatives. The pace and scope of...

CFTC Seeks to Revoke Registration of Crabapple Capital for $1m Fraud

The U.S. Commodity Future Trading Commission (CFTC) announced yesterday that it intends to revoke Associated Persons ( AP), Commodity Pool Operator (CPO) and Commodity Trading Advisor CTA) registrations for Crabapple Capital and its principal, Robert A. Christy. The CFTC’s intent to revoke the...

CFTC Rule Update: New CTA Reporting Rule Deadline Announced by NFA

The U.S. Commodity Futures Trading Commission’s (CFTC) final rule 4.27, requiring that all commodity trading advisors (CTA) report a range of substantive information to the NFA, is set to to get into affect on February 15, 2013. From the NFA Statement Regarding CFTC Rule: In February 2012, the CFTC...

CFTC Enforcement Update: Pro Trading Course’s CTA Registration Revoked

The U.S. Commodity Futures Trading Commission (CFTC) today announced a Final Order that states it will not intervene in the decision to revoke Pro Trading Course, LLC’s CTA registration. The decision was apparently entered by a Judgment Officer. In April, 2012, the CFTC charged Pro Trading Course with...

CFTC Issues No-Action Relief for Banks, Brokers, Advisors…

The U.S. Commodity Futures Trading Commission issued a range of no-action letters today. The letters provide temporary relief for certain introducing brokers (IBs) commodity trading advisors, and banks owned by non-U.S. swaps dealers. CFTC No-Action for IBs and CTAs From the CFTC’s statement: The Division...

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...

CFTC Enforcement Blitz: Eagle, Intrade, Cantor, Harbor Light

The U.S. Commodity Futures Trading Commission (CFTC) seems to be increasing the rate of its enforcement of financial regulation. The agency issued four new enforcement actions in the last week, against Eagle Market Makers, Cantor Fitzgerald, Harbor Light, and most recently, Intrade. CFTC Issues Enforcement...

CPO/CTA Charged With Fraudulent Allocation Scheme

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...

NFA takes action against CPO/CTA

The NFA took an emergency enforcement action against Crabapple Capital Group LLC and its principal, Robert Allen Christy. CCG is a Georgia-based commodity pool operator (“CPO”) and commodity trading advisor (“CTA”). Under the Member Responsibility Action (“MRA”) and the...
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