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 […]
Court Fines Former Pastor Wesley Allen Brown and Associates $8.6 for Defrauding Church Members On March 23, 2015 the CFTC filed a civil enforcement action against defendants Allen Brown, a former pastor now serving time in prison, for defrauding church congregants in violation of federal commodity laws. Brown abused his position as a religious leader […]
Federal Judge Sides With CFTC in Patrick McDonnell Bitcoin Fraud Case In January 18, 2018 the CFTC filed a complaint against Patrick McDonnell and his company CabbageTech, Corp. d/b/a Coin Drop Markets charging them with fraud in purchases and trading of Bitcoin and Litecoin. Yesterday’s hearing on March 6th, the Honorable Jack B. Weinstein of the U.S. […]
CFTC Issues Its First Virtual Currency “Pump-and-Dump” Schemes Warning The Commission continues its involvement in the virtual currency market. On February 15th the CFTC issued its first ever Costumer Advisory warning against virtual currency “pump-and-dump” schemes. Asserting its jurisdiction over cryptocurrency the original press release from the Commission reads, “the CFTC maintains general anti-fraud and […]
BIS Press Release - Easing trade tensions lift sentiment: BIS Quarterly Review, 8 December 2019 […]
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Thank you, David, for that kind introduction. I appreciate your leadership and that of the Asia Advisory Board. This is David’s last year as chair of the FIA Asia Advisory Board...As commodity market participants look ahead to 2020, perhaps the only thing they can be sure of is uncertainty. That was the theme at a panel discussion Dec. 4 at FIA's Asia 2019...FIA responded today to the ESMA consultation paper on Draft technical advice on commercial terms for providing clearing services under EMIR (FRANDT). FIA and its members are fully supportive of...Today, FIA and ISDA submitted a response to ESMA's consultation on the review of the Market Abuse Regulation. We focused on the ESMA proposals for commodities and explained why the separate...The U.S. Commodity Futures Trading Commission held a public meeting Nov. 25 in Washington, D.C., to discuss final amendments to several sections of the agency's Part 4 rules. The amendments, which...FIA welcomed around 100 attendees from across the derivatives industry to its forum in Brussels on 20 November, where the review of MiFID II, cross-border access to clearing and trading venues and...On 12 November, FIA held its Compliance and Regulation Forum for members in London where the prevailing theme was the future of cross-border market regulation. The forum's panel discussion...(Feed generated with FetchRSS) […]
Press release about the Basel Committee publishing consultation paper on revisions to the credit valuation adjustment risk framework, 28 November 2019. […]
Press release about the Basel Committee issuing guiding principles for the operationalisation of a sectoral countercyclical capital buffer, 27 November 2019. […]
Press release about the Basel Committee publishing more details on global systemically important banks (22 November 2019) […]
Press release about the Basel Committee issuing a Report on open banking and application programming interfaces, 19 November 2019. […]
Press release about the Basel Committee consulting on Pillar 3 disclosure templates related to banks' market risk and sovereign exposures, 14 November 2019. […]
The Monetary Authority of Singapore (MAS) and the Bank for International Settlements (BIS) today launched the BIS Innovation Hub Centre in Singapore. […]
Appointments made to lead BIS central bank groups, 11 November 2019. […]
Benoît Cœuré has been appointed to head BIS Innovation Hub, 11 November 2019. […]
Press release about the Basel Committee consulting on guidelines on cooperation between the prudential and AML/CFT supervision, 8 November 2019. […]
Press release about Basel Committee assesses members' implementation of the Net Stable Funding Ratio and large exposures framework, 7 November 2019. […]
Press Release - The Basel Committee announces Canada as host of the 2020 International Conference of Banking Supervisors, 31 October 2019. […]
Press Release - The Basel Committee discusses policy and supervisory initiatives and approves implementation reports, 31 October 2019. […]
Press Release - Basel Committee reports on Basel III implementation progress, 16 October 2019. Release of the "Seventeenth progress report on adoption of the Basel regulatory framework". […]
Report sets out governance of key OTC derivatives data elements, 9 October 2019. […]
The Swiss National Bank (SNB) and the Bank for International Settlements (BIS) have today signed an operational agreement on the BIS Innovation Hub Centre in Switzerland. […]
The Committee on the Global Financial System (CGFS) and the Markets Committee have published two major reports on the implementation and implications of unconventional monetary policy tools (UMPTs) introduced by central banks in response to the financial crisis and its aftermath. […]
FINRA cautions investors who are considering binary options to be alert to potentially fraudulent schemes, and particularly wary of non-U.S. companies that offer binary options trading platforms. […]
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