CBOT stated: The transfers were not made to reconcile an error, omission, or outtrade. CBOT also noted that StoneX has self-reported the transfers, however it had neither admitted nor denied the allegations. LeapRate recently reported that StoneX, formerly known as INTL FCStone, registered excellent financials for the fourth quarter of the fiscal year 2020. The…
Read more
The incident was caused by a logic error in the symbol mapping programme used by Credit Suisse generating market making quotes. The SFC determined that Credit Suisse’s internal controls and regular tests in place at the time failed to prevent or promptly detect the errors and these failures constitute breaches of electronic trading requirements. In…
Read more
ANZ has admitted that it lacked any contractual entitlement to charge those fees. With these fee charges, ANZ contravened with the Australian Securities and Investments Commission Act (ASIC Act) and breached its general obligations. The court ordered the bank to pay a penalty in the amount of $10 million. ASIC Deputy Chair Daniel Crennan QC…
Read more
The US watchdog stated that as a result, Morgan Stanley should have netted the long and short positions of both units together or across the entire broker-dealer and marked the orders as long or short based on that netting. The SEC considers that the failure to do that resulted in Morgan Stanley improperly made certain…
Read more
According to the regulator's order, from 2014 to 2016, the company failed to supervise accounts by not following its policy regarding trade move requests and having inadequate policies and procedures for reviewing customer accounts, introduced by Foremost Trading LLC and traded by the company’s principal, Mark Miller.. Gain also failed to ensure that its employees…
Read more
The CFTC imposed a $135,000 civil monetary penalty against Donino and suspended him from trading for three months. The US watchdog found FNY Partners Fund vicariously liable for Donino’s spoofing. The CFTC imposed a fine in the amount of $450,000 on the company. Division of Enforcement Director James McDonald commented: This enforcement action demonstrates the…
Read more
Following CySEC investigation, the regulator discovered that the violations occurred between January 2018 and July 2019. CySEC revealed that that Depaho violated organisational requirement, as well as CIF authorization provisions, order execution requirements, principles and information of clients and had a conflict of interest. Read More: CySEC issues warnings for websites classicfx24trade, safeoptions24 and others…
Read more
Erin Schneider, Director of the SEC's San Francisco Regional Office commented: We allege that the Bohras repeatedly and systematically used Amazon's confidential information for their own gain. Employees with access to confidential, potentially market-moving corporate information may not use that information to enrich themselves, their friends, or their families. The US regulator’s complaint charges all…
Read more
The SEC alleges that SoluTech and Pitruzzello misrepresented the investors’ interest in investing in SoluTech regarding SoluTech's and Pitruzzello's attempt to raise funds through a Series A stock offering. The US regulator found that SoluTech and Pitruzzello violated the Securities Act and without admitting or denying these findings, SoluTech and Pitruzzello consented to the requirements…
Read more
The CFTC requires Marex and Marex Spectron to pay a fine in the amounts of $250,000 and $120,000, respectively. Both entities would also cease and desists form any further violations of the regulations. Division of Enforcement Director James McDonald commented: The Division of Enforcement will remain vigilant in enforcing minimum capital requirements for registered entities…
Read more