Category: Fines

CFTC offices
June 02, 2017 BY LeapRate Staff

Former Deutsche Bank trader David Liew banned for Spoofing and Manipulation of Gold and Silver Futures markets

The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges against David Liew for engaging in numerous acts of spoofing, attempted manipulation, and, at times, manipulation of the gold and silver futures markets. Liew engaged in this unlawful conduct for more than two years while he was employed as a…

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May 24, 2017 BY admin

BNP Paribas receives $350m fine for manipulating forex rates

French bank BNP Paribas (BNPP) has today been struck with a $350 million USD fine by New York State's banking regulator. The bank is being held responsible for its Foreign Exchange “Cartel” manipulating foreign exchange rates, engaging in collusion, executing fake trades, coordinating trades to enhance profits at customers’ expense, and improperly sharing confidential customer…

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fca crypto regulation
May 24, 2017 BY LeapRate Staff

FCA secures eight confiscation orders totaling £2.2 million

UK financial regulator The FCA has announced that the Central Criminal Court has made confiscation orders against the two final defendants who were convicted of offences following one of the FCA’s largest investigations into unauthorised activity. The FCA’s investigation, known as Operation Cotton, led to eight convictions and this week’s orders mean a total of £2,195,496…

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SFC fines
May 23, 2017 BY LeapRate Staff

Andrew Kurzbard and Guardian Asset Group hit with $1 million fine for illegal transactions with retail customers

The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge Kenneth A. Marra of the U.S. District Court for the Southern District of Florida entered a Consent Order against Guardian Asset Group, LLC (Guardian) of West Palm Beach, Florida, and its owner and principal, Andrew Kurzbard, with a last-known address in Hacksneck, Virginia, finding…

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SFC fines
May 23, 2017 BY LeapRate Staff

Futures trading system developer Kimball Parker and his MakeYourFuture LLC pay $1.2 million in fraud case

The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge Bruce S. Jenkins in the U.S. District Court for the District of Utah entered a Consent Order against Defendants Kimball Parker of Lehi, Utah, and his Utah company, MakeYourFuture, LLC (MYF), who were charged with fraud and other violations in connection with the offering…

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DFSA
May 22, 2017 BY Valentina Kirilova

Securities Commission Malaysia charges former Managing Director of Maxbiz for insider trading

Securities Commission Malaysia (SC) today charged Dato’ Vincent Leong Jee Wai for insider trading of shares of Maxbiz Corporation Berhad (Maxbiz). Dato’ Vincent Leong, 58, was charged at the Kuala Lumpur Sessions Court this morning with two counts of communicating material non-public information between November 2010 and January 2011 to one Leong Wye Keong when…

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May 11, 2017 BY Valentina Kirilova

Barclays to pay $97 million for overcharging clients

The Securities and Exchange Commission (SEC) announced an enforcement action requiring Barclays Capital to refund advisory fees or mutual fund sales charges to clients who were overcharged. In a settlement of more than $97 million, Barclays agreed to settle three sets of violations that resulted in clients being overbilled by nearly $50 million. The SEC’s…

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DFSA
May 10, 2017 BY Valentina Kirilova

SFC reprimands and fines Promising Securities Company Limited $3.5 million

The Hong Kong Securities and Futures Commission (SFC) has reprimanded and fined Promising Securities Company Limited $3.5 million for breach of the Code of Conduct and the Management, Supervision and Internal Controls Guidelines. The SFC’s disciplinary action arose from a self-report by Promising in 2014 that a settlement staff had misappropriated client assets following an…

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SFC fines
May 03, 2017 BY Valentina Kirilova

CFTC charges Pennsylvania resident with fraudulently soliciting commodity futures customers

The U.S. Commodity Futures Trading Commission (CFTC) filed an enforcement action in the U.S. District Court, Northern District of Illinois, charging Defendant, William H. Powderly IV (Powderly) of New Hope, Pennsylvania, with fraudulently soliciting at least $825,000 from at least four customers for purposes of trading commodity futures on their behalf in an account in…

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