Today the National Futures Association issued a press release announcing that its board approved the formation of a Swaps Proficiency Requirements Advisory Committee which will oversee the development of a Swaps Proficiency program for individuals to be tested on, according to the Commodity Exchange Act’s training standards. The exam would test Associated Persons on market […]
NFA Fines XFA Introducing Broker $100,000 For Compliance Violations Today the National Futures Association announced it ordered X-Change Financial Access, LLC. (XFA) Introducing Broker based in Chicago a $100,000 penalty for lack of “adequate supervisory procedures” to monitor and prevent violations of NFA Member Responsibility Action (MRA). Full Press Release below, “The Decision, issued by NFA’s […]
CFTC No Action from Including International Swaps for Global Development CFTC Reduces Marketplace Barriers for Global Development Initiatives May 16, 2018 Washington, DC — The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) today granted relief to non-US counterparties who enter into swaps with International Financial Institutions (IFIs), such as development banks. […]
Last week the NFA sent a notice regarding the Department of Treasury’s Office of Foreign Assets Control (OFAC) as it applies to Virtual Currency such as Bitcoin. The NFA urges its Futures Commission Merchants (FCM) and Introducing Brokers (IB’s) to review the OFAC FAQ for cryptocurrency transactions compliance with their Anti-Money Laundering program.
April saw the most enforcement actions by the CFTC for the year 2018. Some of these were the typical commodity pool schemes, precious metals schemes, spoofing, and fraud in Retail Forex; yet other enforcement actions involved new technologies such as Binary Options fraud relying on technology.
ATM Coin Part of Binary Options Fraud by Blue Bit Banc, CFTC Order Freezes Assets Last week a new cryptocurrency called ATM Coin was involved with CFTC charges against a Binary Options fraud scheme by Blue Bit Banc and other entities. Blake Kantor, aka Bill Gordon, and Nathan Mullins along with companies Blue Bit bank, […]
FDIC Hosts Use of Technology in the Business of Banking Forum in Arlington, Virginia The Federal Deposit Insurance Corporation (FDIC) will host a forum on the Use of Technology in the Business of Banking on Monday, May 7, 2018. Panels will focus on emerging technologies that are transforming banking operations; the impact of emerging technologies on retail banking, including […]
Floor Broker Fined $150,000 by the CFTC for “Spoofing” CME Wheat Futures Market The CFTC fined Anuj C. Singhal $150,000 to settle charges for “spoofing” the Chicago Mercantile Exchange (CME) wheat futures market. The relevant period of the offense was at least between March and June 2016, but this was a repeat offense since disciplinary […]
Aegis Capital Pays $1.3 Million for Anti-Money Laundering Violations FINRA and the Securities Exchange Commission have fined Aegis Capital Corp., NY based Broker-Dealer, $550,000 and $750,000, respectively, in enforcement actions for Anti-Money Laundering (AML) Violations. FINRA Fines Aegis Capital Corp. $550,000 On March 28th FINRA announced in a press release that they had fined Aegis Capital over half […]
CFTC Asks Court To Serve Summons Through Email for Bitcoin Scammer Dillon Dean Bitcoin binary options trader Dillon Michael Dean is strategically avoiding the CFTC court summons accusing him and his company of fraud. On January 18th the Commission filed an enforcement action against Dean and his company, The Entrepreneurs Headquarters Limited, alleging they misappropriated over […]
FinanceFeeds - FinanceFeeds is hosting a one-day seminar-style conference in Limassol, Cyprus tomorrow, June 21, 2018. 65 senior industry executives will join... The post See you all tomorrow at the FinanceFeeds Cyprus FX Industry Seminar – Join us and 65 senior executives appeared first on FinanceFeeds. […]
FinanceFeeds - On June 28, FinanceFeeds will host over 100 senior movers and shakers, and engage with panelists Athol Nourse, Director of Business development of Spectre.ai -The worlds first brokerless Blockchain platform, joined by leading IBs, influencers and mentors Bernard Tokonya, and Siaybulela Mzo, along with marketing and new-economy expert Albert Van Zyl The post FinanceFeeds to host Africa’s largest B2B blockchain event: The South Africa Crypto Summit appeared first on FinanceFeeds. […]
FinanceFeeds - The temporary period will last until July 2, 2018, as ESMA has concluded that there is no need to extend it further. The post ESMA warns period for smooth introduction of LEIs not to be extended after July 2018 appeared first on FinanceFeeds. […]
FinanceFeeds - ASIC has a number of administrative responses available when a firm is in breach of its licence obligation to maintain AFCA membership. The post ASIC clarifies its oversight of new external dispute resolution body AFCA appeared first on FinanceFeeds. […]
FinanceFeeds - EY will conduct a review of the root-cause analysis, major factors of the incident and the effectiveness of Visa's disaster recovery. The post Visa hires external party to conduct review of latest system failure, replies to UK Treasury Committee appeared first on FinanceFeeds. […]
FinanceFeeds - Be a major sponsor at the most important FX industry Expo in the world's fastest growing region for FX and electronic trading The post FinanceFeeds invites you to participate in Malaysia’s Premier B2B FX Industry Expo appeared first on FinanceFeeds. […]
FinanceFeeds - FinanceFeeds met with Mr Chesterman to look at his perspective on his new role and his vision for the FX industry's future from a prime of prime point of view. The post FinanceFeeds speaks with Mark Chesterman on his prime of prime vision appeared first on FinanceFeeds. […]
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Statement of FIA President and CEO Walt Lukken on the unanimous vote of House Financial Services Committee in passing H.R. 5749, the "Options Market Stability Act." “FIA thanks Reps....On June 14, the Futures Industry Association and the Commodity Markets Council submitted a petition asking the Commodity Futures Trading Commission to amend the Ownership and Control Reports Rule...Cryptocurrency futures made their debut in the U.S. at the end of 2017. What are the prospects for similar products to be launch in Europe? What is the appetite among retail and institutional...While transitional arrangements look set to avoid a cliff-edge impact, Brexit will change the landscape for listed derivatives in Europe. Moderator: Simon Puleston Jones...FIA today released survey results that provide a high level snapshot into clearing brokers’ progress with their Brexit contingency plans, the issues they face when structuring and executing such...FIA offered comments to the European Central Bank on June 5 regarding the draft cyber resilience oversight expectations for financial market infrastructures. In the comments, FIA urged the... On 4 June, FIA submitted comments to the China Securities Regulatory Commission (CSRC) on its proposal to increase foreign investment limits for Chinese futures companies. The CSRC... (RSS generated with FetchRss) […]
FinanceFeeds - The deadline for comments is July 2, 2018, whereas the expected decision date is August 13, 2018. The post UK competition regulator invites comments on ION-Fidessa deal appeared first on FinanceFeeds. […]
FinanceFeeds - Pushy representatives of binary options brokers approach potential clients via phone, which adds to aggressive social media marketing campaigns of binaries. The post Despite ban, binary options brokers continue to target Quebec investors appeared first on FinanceFeeds. […]
FinanceFeeds - The move is targeted at newbies who are looking for a way to open a new account with the broker. The post TradeStation enables account opening directly from mobile app for Android devices appeared first on FinanceFeeds. […]
Press Release on the pre-release of two special chapters of the Annual Economic Report of the BIS, 17 June 2018. Trust is the missing link in today's cryptocurrencies - Cryptocurrencies' model of generating trust limits their potential to replace conventional money, the Bank for International Settlements (BIS) writes in its Annual Economic Report (AER), a new title launched this year. […]
Basel Committee issues capital treatment for simple, transparent and comparable short-term securitisations, 14 May 2018 […]
BCBS and IOSCO issue criteria for identifying simple, transparent and comparable short-term securitisations, 14 May 2018 […]
FINRA is re-issuing this alert to remind investors about the key elements of their brokerage account statements and trade confirmations and to provide tips that can help avoid problems. […]
BIS Statement of commitment to the FX Global Cod […]
CPMI Press Release "Central banks urge industry wide take-up of strategy to improve wholesale payments security", 8 May 2018. […]
BIS Press Release "Jens Weidmann to continue as Chair of the BIS Board", 8 May 2018. […]
Press release about CPMI and IOSCO issuing a report on Implementation monitoring of PFMI: follow-up Level 3 assessment of CCPs recovery planning, coverage of financial resources and liquidity stress testing, 3 May 2018. […]
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