Spoofing and Commodities Fraud charges lead to $46 million in fines for Deutsche Bank, HSBC and UBS LeapRate

January 29, 2018 BY LeapRate Staff

Spoofing and Commodities Fraud charges lead to $46 million in fines for Deutsche Bank, HSBC and UBS

The U.S. Commodity Futures Trading Commission today announced, in conjunction with the Department of Justice and Federal Bureau of Investigation’s Criminal Investigative Division, criminal and civil enforcement actions against three banks and six individuals involved in commodities fraud and spoofing schemes. What is spoofing? Spoofing is the practice of bidding or offering with the intent to…

January 26, 2018 BY Valentina Kirilova

OSC panel decisions in insider tipping and trading case upheld by Court

On January 25, 2018, the Ontario Court of Appeal announced that it has upheld the Ontario Securities Commission (OSC’s) Reasons for Decision on the Merits dated March 24, 2015 and its Reasons for Decision on Sanctions and Costs dated August 24, 2015 with respect to Howard Miller and Francis Cheng. The Court’s decision was the…

January 25, 2018 BY LeapRate Staff

Israel's ISA pulls investor awareness ads following Binary Options ties to campaign celebrity Pini Gershon

Israeli financial regulator the Israel Securities Authority (ISA) has come under scrutiny once again due to Binary Options, but this time from a different angle. After more than a year of public and media pressure for the ISA and its then-Chairman Shmuel Hauser to "do something" about the rash of Binary Options brokers based in…

January 24, 2018 BY Valentina Kirilova

CFTC charges My Big Coin with fraud in ongoing virtual currency scam

Defendants allegedly solicited more than $6 million for investments in a virtual currency known as “My Big Coin” The Commodity Futures Trading Commission (CFTC) today announced the filing of a federal court enforcement action under seal on January 16, 2018, charging commodity fraud and misappropriation related to the ongoing solicitation of customers for a virtual…

UN report says North Korea laundered $2 billion theft via Hong Kong firm

January 24, 2018 BY Valentina Kirilova

MAS issues prohibition orders against a former representative of AIA Singapore Private Ltd

The Monetary Authority of Singapore (MAS) has issued prohibition orders against Mr Tan Peng Khoon. Mr Tan will be prohibited for a period of 8 years from: carrying on business and taking part in the management of any insurance intermediary under the Insurance Act; and providing any financial advisory service, and taking part in the…

January 19, 2018 BY LeapRate Staff

Dillon Michael Dean and The Entrepreneurs Headquarters Limited charged in Bitcoin and Binary Options fraud scheme

The U.S. Commodity Futures Trading Commission (CFTC) has announced the filing of a civil enforcement action in the U.S. District Court for the Eastern District of New York against Defendants Dillon Michael Dean of Longmont, Colorado, and his company The Entrepreneurs Headquarters Limited, a UK-registered company. The CFTC Complaint charges Dean and The Entrepreneurs Headquarters with engaging in…

January 18, 2018 BY Valentina Kirilova

ANZ and ASIC reach settlement on suspected third party frauds

ANZ today announced it is filing joint court submissions with the Australian Securities and Investments Commission (ASIC) on an agreed settlement for a number of cases where car finance brokers or dealers engaged in suspected fraud when submitting loan applications on behalf of customers to Esanda between 2013 and 2015. In a statement of agreed…

December 21, 2017 BY Valentina Kirilova

MAS issues prohibition orders against individual for unauthorised trading and fraud

The Monetary Authority of Singapore (MAS) has issued two prohibition orders against Mr Tey Thean Yang Dennis. Mr Tey will be prohibited for a period of 5 years from: performing any regulated activity, and taking part in the management, acting as a director or becoming a substantial shareholder of any capital market services firm under…

Silvergate Bank, a pioneer for crypto and fintech, closes successful IPO

December 20, 2017 BY LeapRate Staff

Wall Street stockbroker Brian Hirsch charged in $1 million IPO kickback scheme

The U.S. Securities and Exchange Commission (SEC) has charged a Wall Street stockbroker with illegally accepting more than $1 million in undisclosed kickbacks for giving certain customers preferential access to lucrative IPOs, enabling them to reap major trading profits in the secondary markets. The SEC alleges that Brian Hirsch subverted allocation policies and procedures at…

December 19, 2017 BY Valentina Kirilova

Noerus Capital hit with £1.2 million judgement and asset freeze for Forex fraud scheme

Following an application by the FCA, the High Court yesterday has made orders against a number of persons involved in carrying on an unauthorised foreign exchange investment scheme. The scheme took in at least £1.2 million from 65 investors but none of the investors’ money was ever used in foreign exchange trading or any other…

Category: Fraud

Spoofing and Commodities Fraud charges lead to $46 million in fines for Deutsche Bank, HSBC and UBS

OSC panel decisions in insider tipping and trading case upheld by Court

Israel's ISA pulls investor awareness ads following Binary Options ties to campaign celebrity Pini Gershon

CFTC charges My Big Coin with fraud in ongoing virtual currency scam

MAS issues prohibition orders against a former representative of AIA Singapore Private Ltd

Dillon Michael Dean and The Entrepreneurs Headquarters Limited charged in Bitcoin and Binary Options fraud scheme

ANZ and ASIC reach settlement on suspected third party frauds

MAS issues prohibition orders against individual for unauthorised trading and fraud

Wall Street stockbroker Brian Hirsch charged in $1 million IPO kickback scheme

Noerus Capital hit with £1.2 million judgement and asset freeze for Forex fraud scheme

Viking Holdings Enjoys A Successful Stock Market Debut

Chip Stock Sell-off After Disappointing AMD And Super Micro Results

ASIC Issues Warning About New Scam Targeting Bonds And Term Deposits

Nick Twidale joins ATFX as Chief Market Analyst

Legal Clash Between SEC And Ripple Impacts XRP Performance