MAS reviews the regulatory regime for financial intermediaries
The Monetary Authority of Singapore is reviewing the regulatory regime for financial intermediaries conducting fund management activities and the exemption regime for financial intermediaries engaged in leveraged foreign exchange trading. A consultation paper has been issued to seek comments from the...NFA ACTION: AVS Carter Financial, Inc.
Posted byFelix Shipkevich on Apr 27, 2010 in CFTC, Forex, National Futures Association, Restricted | 0 comments
The NFA permanently barred AVS Carter Financial, Inc. from NFA membership. AVS Carter Financial is a Commodity Trading Advisor located in Chicago, Illinois. Shahzad Akram, the firm’s sole principal, is also barred from NFA membership for a period of two years. Akram must pay a fine of $5,000 if he...CFTC ACTION: Carmine Garofalo
The CFTC charged Carmine Garofalo, an Italian citizen, with options fraud, engaging in fictitious transactions and trading noncompetitively in violation of the Commodity Exchange Act and CFTC regulations. Garofalo has never been registered with the CFTC. The CFTC complaint alleges that on March 5, 2010,...NFA ACTION: Windsor Wealth Management LLC
The NFA issued a Complaint charging Windsor Wealth Management LLC with failing to list Anthony S. Bobba, formally principal of the Pioneer Commodities LLC, as a principal of Windsor; allowing equity withdrawals when Windsor’s adjusted net capital was under the equity withdrawal restriction; failing to...Cantor movie futures clearinghouse approved
The CFTC approved the applications of Cantor Futures Exchange, L.P. for designation as a contract market and Cantor Clearinghouse, L.P. to be registered as a derivatives clearing organization. Cantor also has requested approval from the CFTC of a contract related to domestic motion picture box office...CFTC approves MDEX for designation as a contract market
The CFTC approved the application of Media Derivatives, Inc. (MDEX) for designation as a contract market. The Commodity Exchange Act requires the Commission to approve such applications if the applicant meets criteria enumerated in the Act. MDEX also has requested approval from the CFTC of a contract related...NFA ACTION: Brewer Futures Group
On June 10, 2009, NFA issued a Complaint alleging that Brewer Futures Group failed to observe high standards of commercial honor and just and equitable principles of trade; failed to maintain required books and records; failed to maintain required capital; and failed to give notice. The Complaint also...CFTC ACTION: Kuen Cheol Song
The CFTC announced that it charged Kuen Cheol Song, a citizen of Singapore, with engaging in fictitious transactions and trading noncompetitively in violation of the Commodity Exchange Act and CFTC regulations. Song has never been registered with the CFTC. The CFTC complaint alleges that, since at least...CFTC ACTION: CMA Capital Management, LLC
The CFTC charged Claudio Aliaga and his company, CMA Capital Management, LLC, of Miami Lakes, Fla., with operating a Ponzi scheme involving the fraudulent solicitation of at least $4.5 million from at least 125 individuals to invest in foreign currency managed accounts and/or a pooled investment. The...CFTC ACTION: CSA Trading Group, Inc.
The CFTC obtained more than $3.9 million in restitution and civil monetary penalties in a federal judgment order against CSA Trading Group, Inc. andMichael Derrick Peninger, both of Charleston, S.C., in a CFTC anti-fraud action. The order stems from a CFTC complaint filed in 2008, charging CSA and Peninger...