Shipkevich Bitcoin and ICO Attorney

Forex

Felix Shipkevich September 26, 2012

U.S. Representative Barney Frank has written a letter to regulators at the CFTC, urging them to make a decision about FX exemptions. “If Treasury ultimately plans to provide an exemption, it would be a complete waste of time, effort and resources to force companies which will ultimately be exempt to go through the registration process,” […]

Felix Shipkevich May 30, 2012

In an effort to reassure investors whose confidence in the safety of their funds was shaken by the MF Global scandal, the NFA has proposed a new rule that would require Futures Commission Merchants (FCMs) to obtain approval from a senior executive before withdrawals can be made from customer accounts. The proposed rule, NFA Financial […]

Felix Shipkevich May 24, 2012

As the Dodd-Frank act continues to make inroads into every corner of financial markets, the area of forex forwards, non-deliverable forwards (NDFs) and forex swaps may undergo a particularly dramatic transformation. Historically dominated by large banks and other institutional counterparties, the sector was slower than others to automate, and a great deal of settlement risk […]

Felix Shipkevich April 19, 2012

Th CFTC filed an order against Flint-McClung Capital (FMC) of Englewood, Colorado and Shawon McClung of Denver, Colorado, charging them a $1,701,250 restitution and a $4.3 million civil monetary penalty. According to the order, the CFTC found that the defendants solicited and received at least $2.4 million from 20 customers by claiming to be successful […]

Felix Shipkevich February 16, 2012

The CFTC filed a federal court action in Puerto Rico, charging Angel Fernando Collazo and his companies, ACJ Capital, Inc. (ACJ) and Solid View Capital LLC with fraud and misappropriation. The defendants allegedly took $1 million from investors and misappropriated it. The CFTC froze the defendants’ assets and entered a preliminary injunction against Collazo and […]

Felix Shipkevich February 14, 2012

The Indian government is investigating whether local Google and Yahoo branches violated the country’s foreign exchange (“forex”) laws. The Press Trust of India reported that Google may have breached a forex law while transferring money to Ireland and other foreign nations, and transferring investments from abroad. The investigation is a continuation of a longstanding series […]

Felix Shipkevich January 20, 2012

The CFTC has secured a federal consent order against Texas resident Larry Benny Groover for defrauding customers and misappropriating client money as part of a foreign exchange (“forex”) Ponzi scheme. Groover has been ordered to pay $2.69 million in restitution and civil monetary penalty. Relief defendant Joanne Groover is also required to disgorge the $44,890 […]

Felix Shipkevich January 19, 2012

BNY Mellon has reached a partial settlement with the the U.S. Attorney’s office in connection with charges that the custody bank defrauded large institutional customers, including several state pension funds, by overcharging them for foreign exchange (“forex”) transactions. This settlement addresses only the section of the case aimed at forcing BNY to reveal its methods […]