Assurance Capital Management LLC fined more than $2.4 million for commodity pool fraud LeapRate

July 12, 2017 BY Valentina Kirilova

Assurance Capital Management LLC fined more than $2.4 million for commodity pool fraud

The U.S. Commodity Futures Trading Commission (CFTC) announced that Judge Susan C. Bucklew of the U.S. District Court for the Middle District of Florida entered an Order of Final Judgment by Default against Defendants Anthony J. Klatch II, Lindsey Heim, and their company Assurance Capital Management, LLC (ACM) for defrauding pool participants in a commodity…

July 12, 2017 BY Valentina Kirilova

Netherlands AFM fines Lexon Capital S.L. €10,000 for market manipulation

The Dutch Authority for the Financial Markets (AFM) announced that has imposed an administrative fine of € 10,000 on the Spanish company Lexon Capital S.L. The fine was imposed because Lexon manipulated the prices of four equity funds that are listed on Euronext Amsterdam. Lexon's actions resulted in (potentially) misleading signals with regard to the…

July 10, 2017 BY Valentina Kirilova

Axis Incorporation former Executive Directors jailed for furnishing false statements

The Kuala Lumpur Sessions Court today convicted and jailed two former executive directors of Axis Incorporation Bhd (Axis) for furnishing false statements to Bursa Malaysia Securities Bhd. Lee Han Boon and Saipuddin Lim Abdullah both pleaded guilty for furnishing false information to the stock exchange in relation to Axis’ revenue of RM91.13 million. Out of…

July 10, 2017 BY Valentina Kirilova

CySEC fines and prohibits directors of Falcon Brokers Limited from exercising professional financial activity

The Cyprus Securities and Exchange Commission (CySEC) has today announced a series of financial penalties on the directors of Falcon Brokers Limited, and has banned all key persons of the Company from exercising professional activity related to the financial sector for a number of years. This decision marks the conclusion of CySEC’s eighteen-month investigation into…

July 05, 2017 BY Valentina Kirilova

OSC approves settlement agreement with Electrovaya Inc. and Sankar Das Gupta

The Ontario Securities Commission (OSC) announced that has approved a settlement agreement with Electrovaya Inc. and its President and Chief Executive Officer, Dr. Sankar Das Gupta, in connection with the company’s failure to comply with disclosure obligations, including its failure to update forward-looking information. This settlement agreement follows allegations by OSC Staff that Electrovaya issued…

July 05, 2017 BY LeapRate Staff

CySEC issues €90,000 fine to former FX and Binary Options broker operator Lionsman

Cyprus financial regulator has issued a €90,000 fine to Lionsman Capital Markets (Cyprus) Ltd, which used to operated Forex and Binary Options brokerages. Lionsman used to own and operate the OptionWeb binary options and NessFX retail FX and CFDs websites, however quite a while ago those brands were offloaded to two other CySEC licensed entities - OptionWeb…

June 30, 2017 BY LeapRate Staff

Rosenthal Collins, now known as DV Trading, fined $5 million for illegal wash sales

The U.S. Commodity Futures Trading Commission (CFTC) has announced the filing and simultaneous settlement of charges against Rosenthal Collins Capital Markets, LLC, now known as DV Trading LLC (RCCM), of Chicago, Illinois, for engaging in illegal wash sales in order to generate rebates of exchange fees based upon increased trading volumes. The CFTC Order requires RCCM to…

June 28, 2017 BY LeapRate Staff

Marbury Advisors Inc and Tracy Lee Thomas hit with $4.4 million fine for fraudulently soliciting customers

The U.S. Commodity Futures Trading Commission (CFTC) has announced that Judge Loretta C. Biggs of the U.S. District Court for the Middle District of North Carolina entered an Order of Final Judgment by Default against Defendants Tracy Lee Thomas (a/k/a Treyton L. Thomas, a/k/a Trayton L. Thomas, a/k/a Trey Thomas, a/k/a Tray Thomas, a/k/a T.L. Thomas), formerly…

June 28, 2017 BY Valentina Kirilova

CFTC fines Hong Kong-Based Huafu HK Co. Ltd. $225,000 for reporting violations

The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges against Huafu HK Co. Ltd. (Huafu), a corporation based in Hong Kong, for failing to file CFTC Form 304 reports, reporting its call cotton purchases and sales when it held or controlled at least 100 cotton futures positions. The CFTC…

June 27, 2017 BY Valentina Kirilova

Westpac pays $127,250 to comply with infringement notice penalty

Westpac Banking Corporation has paid a penalty of $127,250 to comply with an infringement notice (Infringement Notice) given to it by ASIC. The infringement notice was issued in response to an alleged breach of the ASIC Derivative Transactions (Reporting) Rules 2013 (ASIC Rules) during the period from 2 October 2013 to 30 April 2015. This…

Category: Fines