Cantor Fitzgerald pays $100,000 to CFTC for Wash Sales and Noncompetitive Trading Done on NYMEX

Cantor Fitzgerald & Co (Cantor) of New York was charged by the U.S. Commodity Futures Trading Commission (CFTC) for engaging in wash sales and causing illegal trading of Reformulated Gasoline Blendstock for Oxygen Blending (RB) – a gasoline futures contract, at the New York Mercantile Exchange...

Defaults begin in 14 CFTC Lawsuits against Forex Firms

As published earlier this week on FX Street, the U.S. Commodity Futures Trading Commission (“CFTC”) announced on January 26, 2011 that it filed 14 enforcement actions against defendants that allegedly acted as a retail foreign exchange dealers (“RFED”) or introducing brokers without registering with...

Brian Kim’s Assets Frozen by New York Federal Court

Brian Kim and his New York-based firm, Liquid Capital Management LLC (LCM), were charged with illegal solicitation, misappropriation, issuance of false account statements and lying to the National Futures Association. The CFTC filed a civil anti-fraud complaint against Kim in the U.S. District Court for the...

SFC seeks disqualification orders against former senior executives of Sunlink International Holdings

The Securities and Futures Commission (SFC) has commenced proceedings in the High Court, seeking orders to disqualify Mr. Andy Wong Shu Wing, a former chairman and executive director of Sunlink International Holdings Ltd (Sunlink) and Mr. Lee Chak To, a former chief financial officer of Sunlink as company...

Courts Continue Support For SFC’s Enforcement of Insider Dealing Rules

The latest edition of the Enforcement Reporter, the official publication of Securities and Futures Commission (SFC), reports that the agency has successfully obtained further orders from the High Court to disqualify three company directors showing that directors who breach their obligations, commit...

FSA Approves Transfer of Business of Kent Reliance Building Society

The Financial Services Authority (FSA) has announced its approval that on the transfer of the business of Kent Reliance Building Society to OneSavings PLC on January 24. The approval of such transfer is in accordance of the Building Societies Act 1986. (Source:...

5 Banned, 1 Fined By FSA; 101 Mortgage Intermediaries Banned Since December 2006

The Financial Services Authority (FSA) has banned five (5) mortgage intermediaries, and fined another one in the amount of  £104,000. There are now 101 mortgage intermediaries banned by FSA since December 2006. Most of the individuals that have been banned were declared to be not fit to work in regulated...

Public Debate on Role of FSA on Product Intervention

The Financial Services Authority (FSA) has published a discussion paper to open a public debate about how the FSA, and the proposed Consumer Protection and Markets Authority (CPMA), should pursue the objective of consumer protection, specifically, on the issue of product intervention. The discussion paper...

CFTC To Freeze Linton Assets In Connection With Foreign Currency Ponzi Charge

The U.S. Commodity Futures Trading Commission (CFTC) has obtained today an emergency order issued by the federal order allowing it to freeze the assets of defendant Anthony Eugene Linton of Tucson, Arizona, of The Private Trading Pool. The court order also grants the CFTC immediate access to the books and...

Volume 7 of DFSA In Action Out

The Dubai Financial Services Authority online news publication entitled “DFSA In Action”, Volume 7, is now available online for viewing and reading. One can read the online publication at this link: http://www.dfsa.ae/WhatsNew/DispForm.aspx?ID=161 (Source:...
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