This customer advisory emphasizes the need for conducting extensive research to determine your rights, what could affect the future value of digital coins or token, and steps you can take to avoid fraud or other problems. Many Initial Coin Offerings End in Fraud or Failure.
CFTC and SEC Update 2008 Swaps MOU for Cohesion and Efficiency Latest press release from the CFTC and the SEC shows how far the two regulatory agencies have come to a cohesive approach to market regulation where their respective jurisdictions might overlap. This updated Memorandum of Understanding promises cooperation between the two regulators for efficiency. […]
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. […]
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, […]
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 […]
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 […]
FinanceFeeds - If the ex-head of ill-fated MtGox fails to act within the specified deadlines, he faces a default entry against him. The post Mark Karpeles has 10 days to reply to MtGox US customers’ claims appeared first on FinanceFeeds. […]
FinanceFeeds - According to the CFTC, James Vorley and Cedric Chanu attempt to seek discovery from the regulator without limitation, while trying to shield themselves from their obligations to provide discovery. The post CFTC warns that traders accused of spoofing are trying to obtain excessive evidence appeared first on FinanceFeeds. […]
FinanceFeeds - During the April-June quarter, the Hong Kong regulator received 2,030 licence applications, up 19.6% from the same period a year earlier. The post Hong Kong’s SFC registers rise in license applications in quarter to end-June appeared first on FinanceFeeds. […]
FinanceFeeds - Online sales and cashless payments lessen the need for personal banking services such as cash withdrawals. The post Shift to online services pushes MUFG Bank to reduce number of ATMs appeared first on FinanceFeeds. […]
FinanceFeeds - The Exchange announces the acquisition of approximately 8% of additional interest in FastMatch, a global FX spot market operator. The post Euronext increases its stake in FastMatch to 97.3% appeared first on FinanceFeeds. […]
FinanceFeeds - The bank continues to oppose claims that it had actual knowledge of and substantially assisted Renwick Haddow’s Ponzi scheme. The post JPMorgan aims to refute claims it had knowledge of Haddow’s scam appeared first on FinanceFeeds. […]
Washington, DC – FIA and the FIA Principal Traders Group (together, FIA) today urged the Commodity Futures Trading Commission (CFTC) to retain the current $8 billion de minimis threshold for swap...London—6 August 2018 — FIA today announced the publishing of a fully updated and comprehensive set of industry standard contractual terms for derivatives clearing – the FIA Terms of Business 2018...On July 31, the U.S. Treasury Department released a report on financial technology and innovation. The report is the fourth and final in a series drafted in response to an executive order issued...Each year FIA organizes an Innovators Pavilion at the Futures & Options Expo in Chicago to showcase fintech startups that are offering forward-thinking solutions for the global capital markets...FIA submitted a letter to the European Commission and European Securities and Markets Authority on July 27 expressing opposition to the idea of allowing public entities to be exempt from...Washington, D.C.—July 25, 2018—FIA today released its half-year 2018 report on trading activity in the global exchange-traded derivatives market.... (RSS generated with FetchRss) […]
FinanceFeeds - The rule would provide the Exchange with authority to require participation by certain member organizations in industry-wide tests to validate that their processing in the event of MWCB is as expected within their systems. The post SEC approves NYSE proposal to require certain members to take part in circuit breaker testing appeared first on FinanceFeeds. […]
FinanceFeeds - The US Government says it should be able to cross-examine a witness with facts tending to show that the banks did not, in fact, condone the traders' behavior. The post DOJ wants to be able to refer to bank guilty pleas in case against FX Cartel appeared first on FinanceFeeds. […]
FinanceFeeds - A case which alleged that FXCM Inc and Drew Niv misled investors about the risks associated with FXCM’s business gets dismissed in New York. The post NY Court rules in favor of Drew Niv and FXCM Inc in “Black Swan” case appeared first on FinanceFeeds. […]
FinanceFeeds - The improvements are set to be particularly helpful to financial advisors that manage a large number of accounts. The post Interactive Brokers’ TWS platform streamlines process for handling FA allocation orders appeared first on FinanceFeeds. […]
Press release about BCBS, CPMI, FSB, IOSCO report "Analysis of Central Clearing Interdependencies", 9 August 2018 […]
BCBS, CPMI, FSB, IOSCO press release about FSB and standard-setting bodies consulting on effects of reforms on incentives to centrally clear over-the-counter derivatives, 7 August 2018. […]
Press release about CPMI and IOSCO publishing "Implementation monitoring of the PFMI: Level 2 assessment report for Canada", 2 August 2018. […]
Fraudsters continue to impersonate FINRA executives, offering bogus investment "guarantees" to investors as part of an advance-fee scam. Read more about the lengths these fraudsters go to in creating a false sense of security. […]
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CPMI Press Release "Jurisdictions continue to make progress in implementing standards for payment, clearing and settlement", 23 July 2018. […]
Press Release - the Basel Committee on Banking Supervision is issuing a revised G-SIB framework, 5 July 2018. […]
The Committee on the Global Financial System is issuing a report on "Financial stability implications of a prolonged period of low interest rates", July 2018. […]
Basel Committee issues technical amendment to the Net Stable Funding Ratio, 29 June 2018. […]
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