Tag: CFTC fine

June 06, 2016 BY LeapRate Staff

CFTC charges Haena Park and her companies with misappropriation, trading fraud, and running a Ponzi scheme

The U.S. Commodity Futures Trading Commission (CFTC) has announced the filing of a civil enforcement action charging Haena Park and her companies operating under various names including Phaetra Capital GP LLC, Argenta Capital GP LLC, Phaetra Capital Management LP, Argenta Capital LLC, and Argenta Group LLC with fraudulently operating a commodity pool and misappropriation of pool…

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May 27, 2016 BY LeapRate Staff

CFTC fines Cypress Wealth Management Group $530,000 for off-exchange transaction involving retail traders

The U.S. Commodity Futures Trading Commission (CFTC) has filed an Order instituting proceedings and settling charges against Cypress Wealth Management, Inc. and its former owners and operators, Ted L. Romeo of Pompano Beach, Florida, and Richard D. Schrutt of Tampa, Florida. The CFTC Order charged illegally offering off-exchange financed transactions in precious metals to retail…

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May 25, 2016 BY LeapRate Staff

Bad day for Citi: CFTC doles out $425 million in fines for manipulation of LIBOR and swap rates

US financial regulator CFTC has issued two notices about fairly large fines totaling $425 million being levied against banking giant Citigroup Inc (NYSE:C). In Notice #1, the CFTC has ordered Citibank, N.A. and Japanese affiliates to pay a $175 million penalty for attempted manipulation of Yen LIBOR and Euroyen TIBOR, and false reporting of Euroyen TIBOR and…

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April 13, 2016 BY LeapRate Staff

Nathan Schleifer and Galileo Trading banned by the CFTC and fined $1.6 million for commodities fraud

The U.S. Commodity Futures Trading Commission (CFTC) has settled charges against Nathan Schleifer of New York City, and his company Galileo Trading LLC for fraudulently soliciting customers to trade commodity futures, and for repeatedly making numerous false statements and material misrepresentations to the National Futures Association (NFA) regarding their trading practices. From at least 1999 through…

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March 14, 2016 BY LeapRate Staff

IBFX / TradeStation Forex gets $1 million CFTC fine for capital violations

The U.S. Commodity Futures Trading Commission (CFTC) today issued an order filing and simultaneously settling charges against Plantation, Florida-based IBFX, Inc. (IBFX), formerly known as TradeStation Forex, Inc. IBFX is a wholly owned subsidiary of TradeStation Group, Inc. and a CFTC-registered Retail Foreign Exchange Dealer (RFED). The CFTC order requires IBFX to pay a $1…

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February 26, 2016 BY LeapRate Staff

Banc de Binary reaches $11 million settlement with US authorities: WSJ

The Wall Street Journal has reported that binary options broker Banc de Binary has agreed to an $11 million settlement with U.S. authorities, following allegations that Banc de Binary illegally signed up U.S. investors to its binary options trading platform. The CySEC-regulated company, which also has operations in Israel and the Seychelles, reached the agreement after being…

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September 09, 2014 BY Gerald Segal

Zulutrade fined $150,000 by the CFTC for taking clients from Iran, Sudan and Syria

The CFTC has announced a settlement with social trading giant Zulutrade, whereby Zulutrade will pay a fine of $150,000 and repay commissions earned of $80,000. The settlement involve charges that from 2010 to 2013 Zulutrade failed to follow procedures for screening clients from the U.S. Department of the Treasury’s Office of Foreign Assets Control’s (OFAC) targeted countries.…

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