Tag: CFTC regulation

April 09, 2014 BY Andrew Saks-McLeod

Dodd-Frank Doubt: CFTC's power to control cross-border derivatives and HFT under fire

US government department issues bill exposing bipartisan congressional legislation which curbs the scope of CFTC's powers Assumption that the US authorities had completed their implementation of the Dodd-Frank Wall Street Reform Act's rulings on OTC derivatives once it had been finalized was widespread and in keeping with America's highly methodical regulatory structure as last year drew…

Read more
April 08, 2014 BY Gerald Segal

CFTC Staff Issues an Extension of Time-Limited No-Action Relief to FCMs

The extension of no-action relief will expire on June 30, 2014 In an official news release, the U.S. Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) today issued an extension of time-limited no-action relief to FCMs. On November 14, 2013, the Commission adopted amendments to Commission Regulations 1.20, 22.2, and…

Read more
March 31, 2014 BY Andrew Saks-McLeod

CFTC and OFR Sign Memorandum of Understanding to Improve Data Quality

America's will to continue its widely recognized high level of consumer protection continues in form of joint project on data from swap repositories The Commodity Futures Trading Commission (CFTC)'s Acting Chairman Mark Wetjen and Office of Financial Research Director Richard Berner today announced a Memorandum of Understanding on the terms and conditions for the CFTC…

Read more
March 31, 2014 BY Andrew Saks-McLeod

LeapRate Fraud Watch: $5.75 million civil penalty issued to Florida FX fraudsters

Queen Shoals Consultants, Gary D. Martin, and Brenda K. Martin Charged by CFTC for misappropriating client funds to convicted Ponzi scheme operator and extorting bogus referral fees The U.S. Commodity Futures Trading Commission (CFTC) has today announced that it has obtained a federal court supplemental consent Order requiring Defendants Gary D. Martin and Brenda K.…

Read more
March 30, 2014 BY Andrew Saks-McLeod

CFTC spares Singapore Exchange's clearing division an enforcement - but for how long?

The global drive among national regulators to work together toward standardizing trade clearing methodology continues, as the CFTC defers enforcement action against SGX-DC The US Commodity Futures Trading Commission's Division of Clearing and Risk (DCR) issued a time-limited no-action letter to the Singapore Exchange Derivatives Clearing Limited (SGX-DC) on Friday last week, as Singapore readies…

Read more
March 20, 2014 BY Andrew Saks-McLeod

LeapRate Forex Fraud Watch - Steven Lyn Scott charged by CFTC

Texan Steven Lyn Scott charged with solicitation, fraud, misappropriation of client funds and registration violations The U.S. Commodity Futures Trading Commission (CFTC) has today reported that it filed an enforcement action March 19, 2014 against Defendant Steven Lyn Scott, who is also known as Stevon Lyn Scott, of Dallas, Texas, charging him with solicitation fraud,…

Read more
March 19, 2014 BY Andrew Saks-McLeod

CFTC Delays Cross-Border Derivatives Ruling Date, Bowing to UK Pressure

London-based trading firms ask CFTC for more time before proposed implementation of restrictions on derivatives trading in Europe which were scheduled for March 24 The regulatory wranglings concerning the US Commodity Futures Trading Commission (CFTC)'s potential imposition of restrictions on derivatives trading in Europe which had been scheduled for inception on March 24. In a…

Read more
March 19, 2014 BY Andrew Saks-McLeod

Lie To The CFTC? Collect Trading Ban And Fine

CFTC orders Sean R. Stropp to pay $250,000 penalty and serves cease and desist order following false and misleading statements during a CFTC investigation The US Commodity Futures Trading Commission (CFTC) has adopted a similar method of penalizing those who provide incorrect statements to compliance officers during inspections as that which has been long employed by…

Read more