The National Futures Association has sent a rule submission letter to the CFTC regarding new disclosure obligations for FCMs, IBs, CPOs, CTAs, and Pools and Managed Account Programs engaging in virtual currency derivatives and virtual currency transactions as well as other activities in underlying or spot virtual currencies would require the new disclosure.
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 […]
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.
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 released a statement of three regulated US Exchanges, CME, CFE, and Cantor self-certified new contract for Bitcoin futures and products. On Friday December 1st, the CFTC announced that the world’s largest futures exchange, the Chicago Mercantile Exchange (CME) completed self-certification with the Commission to launch Bitcoin futures contract on December 18. Futures contracts […]
Terrence Duffy, Chairmen of the CME Group, counseled Senators against a pending CFTC ruling regarding collateral set aside by brokerages on July 17th, 2013. Duffy’s presentation before the Senate Committee on Agriculture, Nutrition and Forestry was in a hearing to evaluate the CFTC.
Oil industry companies have largely managed to avoid the scrutiny of derivatives trading and registration as swap dealers, according to Reuters.
The National Futures Assocation (NFA) announced yesterday that Cargill Inc is the first major non-financial entity to be registered as a swap dealer.
The National Futures Association (NFA) announced its intention to implement 21 changes and recommendations to how it manages futures industry firms. The news comes after the Berkeley Research Group (BRG), as part of its independent analysis of NFA’s audits of the Peregrine Financial Group, uncovered countless auditing oversights in the wake of the $200 million […]
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. […]
October 1-7, 2019 is World Investor Week, a global campaign to raise awareness about the importance of investor education and protection. U.S. securities regulators offer these key messages for Main Street investors. […]
Financial fraud routinely follows on the heels of disaster. Hurricanes and their aftermath are no exception. We are issuing this Alert to warn investors that investment scams may come your way touting stocks and other investments with the promise of huge gains in the wake of major hurricanes. […]
FINRA updated and is reissuing our 529 saving savings plan investor alert to highlight Jobs Act changes, and to remind investors to closely consider both their state of residency and the applicable fees—including fees associated with share classes—when making 529 investment decisions. […]
As an investor, you may have read about "Class A," "Class B," Class C", or other classes of mutual fund shares. If you are thinking about choosing one of these classes, it is important for you to understand the differences between them. FINRA regulates broker/dealers and their registered representatives, and we provide investors with information about securities products and services. […]
FINRA and the SEC’s Office of Investor Education and Advocacy are issuing this Investor Alert to inform investors about social sentiment investing tools and highlight their risks. This Alert provides tips to consider before using tools that analyze or aggregate information from social media sources to make investment decisions or attempt to predict changes in the stock market’s direction or in the price of a security. […]
FINRA is aware of a recent scheme that involved an unregistered individual impersonating a registered investment professional to lure in potential investors. This scammer created a fake version of a public FINRA BrokerCheck® report of a legitimate broker—picking an experienced broker with a spotless regulatory record. […]
Fake checks purported to be issued by FINRA appear to be back in circulation in 2019. The checks are counterfeit. Our updated Alert warns the public about job-search scams in which people who respond to ads or online job postings receive checks that appear to be from legitimate companies—including FINRA. […]
We are reissuing this alert because, as interest rates have increased in recent months, so have calls to FINRA from investors concerned that promotions for higher-than-average CD rates are in fact pitches for high-commission investment products. […]
FINRA is issuing this alert to inform investors that investments in digital assets, such as ICO tokens and cryptocurrencies, can involve significant uncertainty, as well as risks that are different from more conventional assets like stocks or bonds. […]
Chicago—FIA announced today that Hivemind , a data science startup based in the U.K., has been named the FIA Innovator of the Year. Hivemind was selected by a panel of independent judges after a...At an FIA Expo panel discussion on Oct. 30, a diverse selection of experts offered the public sector, clearing, exchange, and corporate perspectives on sustainability issues. Despite the different...As with so many other areas of society, the financial industry has recognized the importance of fostering diversity in its workforce. That commitment to diversity was on display again at FIA Expo...By most quantitative measures, the cleared derivatives industry is bigger and better than ever before. But based on comments at FIA Expo conference in Chicago on Oct. 30, future growth may not be... (As prepared for Delivery) Welcome to the 35th Annual Futures and Options Expo. Or as my wife calls it, the “Week My Freakin’ Husband Skipped Halloween.” Or as Emma Davey calls it...FIA’s Head of Europe Bruce Savage gave remarks recently on FIA’s European engagement, cross border challenges and MiFID II finetuning at the QED event in Brussels. This represents Mr. Savage’s...FIA welcomed more than 100 attendees from across the derivatives industry to its forum in Frankfurt on 24 September , where the impact of post-crisis reforms, new rules in Europe and international...(Feed generated with FetchRSS) […]
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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. […]
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