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. […]
Joint Statement Addressing Virtual Currency by CFTC and SEC Enforcement Directors. Both the CFTC and the Security Exchange Commission (SEC) became increasingly active last year enforcing their jurisdiction in the virtual currency landscape. On December 2017 the SEC Chairman Jay Clayton issued a statement on the state of Cryptocurrency and Initial Coin Offerings (ICOs). Promptly the […]
On January 18, 2018 the CFTC filed a civil enforcement action and a federal civil enforcement action in the U.S. District Court for the Eastern District of New York against The Entrepreneurs Headquarters Ltd., and CabbageTech, Corp. d/b/a Coin Drop Markets (CDM), respectively, for fraudulent schemes. Both charges involve fraud in Bitcoin virtual currency, signaling the Commission […]
Mintco Precious Metals Traders Fined and Banned by CFTC Court Order Federal Court sides with CFTC Enforcement Actions filed on September 2015 against Florida-based Mintco LLC and their owners Stuart Rubin and Richard Q. Zimmerman. Consent Orders by Federal Judge Beth F. Bloom fines Mintco $250,000 and Zimmerman $45,000, as well as a 3-year trading […]
The CFTC defines its authority over retail commodity transactions involving virtual currency and Bitcoin after it brought enforcement actions against Bitfinex for not meeting “actual delivery” exemption. On Friday 15th 2017 the CFTC released a Proposed Interpretation of its view of the term “actual delivery” exception that may apply to virtual currency transactions under the Commodity […]
Before the ISDA can move forward with the ICAP investigation, they must phase it out of its current roles within the$ 463 trillion dollar swaps market, which will begin this week.
According to CFTC.gov, five federal agencies have approved an interim rule that will allow banks to keep certain securities, namely collateralized debt obligations, which are backed by trust preferred securities (TruPS CDOs).
According to CFTC.gov, the Commodity Futures Trading Commission has filed a civil enforcement action against principal trading organization for both ”banging the close” and “spoofing” the IDEX USD Three-Month Interest Rate Swap Futures Contract.
Outside of enforcement actions, Mr. Meister enhanced collaborative relationships with the U.S. Justice department, the FBI, and many other domestic and foreign agencies. He also smoothed out the Division’s investigative and management techniques, increasing the speed in which cases were handled, and ensuring consistent enforcement actions across the board.
No global real estate market despite higher price synchronisation and growing role of international investors, central banks find (Press release, 18 February 2020) […]
In March 2019, FIA unveiled a board-level Diversity Committee and an initiative addressing the importance of diversity and inclusion in our industry. The committee, chaired by board member Alicia...The U.S. Commodity Futures Trading Commission advanced a proposed rulemaking on position limits in a 3-2 vote on Jan. 30. The proposal, which will be open for public comment for 90 days,...FIA formally petitioned the Commodity Futures Trading Commission (CFTC) to amend its rules to clarify the margin treatment of separate customer accounts.Washington, DC—Summary statistics released today by FIA show that trading activity in the global exchange-traded derivatives markets rose by 13.7% in 2019 to reach a record of 34.47 billion...On 8 January 2020, FIA and ISDA responded jointly to ESMA’s consultation “ MiFID II review report on position limits and position management and draft technical advice on weekly position reports...FIA’s U.S. Commodities members recently filed a response to the CFTC proposal relating to the implementation schedule for the CFTC’s uncleared margin rules. Last October, the CFTC proposed...FIA welcomes and appreciates the work of European Commission Executive Vice President Valdis Dombrovskis and his staff on their recent announcement of a one-year equivalence determination in the...(Feed generated with FetchRSS) […]
Markets Committee calls for wider adoption of global code of conduct for foreign exchange markets (Press release, 30 January 2020) […]
The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Sveriges Riksbank and the Swiss National Bank, together with the Bank for International Settlements (BIS), have created a group to share experiences as they assess the potential case for central bank digital currency (CBDC) in their home jurisdictions. (Press release, 21 January 2020) […]
The BIS Board of Directors has decided to invite the central banks of Kuwait, Morocco and Vietnam to become members of the BIS. This is the first such expansion since 2011 and will take the number of members to 63. […]
One of the best ways you can protect your investment portfolio is to monitor your holdings and activity. You should make it a habit to review online or paper account statements and trade confirmations on a regular basis. You should review your statement as soon as you receive it to confirm it correctly reflects your investment decisions and any actions you made or authorized during the time the statement covers. […]
Press release about the Basel Committee launching the consolidated Basel Framework, 16 December 2019. […]
Press release: Basel Committee invites comments on the design of a prudential treatment for crypto-assets, 12 December 2019. […]
Press release: CPMI report sets out considerations for developers of wholesale digital tokens, 12 December 2019 […]
Press release: CPMI and IOSCO share authorities´ experiences in cooperation to increase FMI safety and efficiency, 10 December 2019 […]
BIS Press Release - Easing trade tensions lift sentiment: BIS Quarterly Review, 8 December 2019 […]
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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. […]