CFTC Provides Time-Limited No-Action Relief to Certain Affiliated Counterparties LeapRate

March 07, 2014 BY Andrew Saks-McLeod

CFTC Provides Time-Limited No-Action Relief to Certain Affiliated Counterparties

The US regulatory authorities' complex rulings with relation to the structure by which clearing of swaps can be carried out between counterparties continue to evolve. Following last year's implementation of full reporting requirements by CCPs, the CFTC has provided time-limited no-action relief from trade execution requirements to certain Affiliated Counterparties until December 2014. The Commodity…

March 05, 2014 BY Andrew Saks-McLeod

Forthcoming CFTC Roundtable Set For April 3 To Clarify Dodd-Frank Act End User Issues

CFTC set to hold roundtable including discussion panels on three commonly-requested topics surrounding the Dodd-Frank Act following requests for clarification by commercial end users 2013 was most certainly a year of regulatory wranglings, especially among the two North American authorities responsible for overseeing the electronic trading activity which takes place under its jurisdiction. In the…

January 17, 2014 BY Gerald Segal

Whistleblowing for forex fraud to the CFTC has just been made easier

As part of the Dodd-Frank Act, an electronic filing portal has been launched for public access In times of a vastly expanding regulatory environment in the financial services industry sometimes it is very difficult to properly address all inquiries that come to the regulators. Authorities have been blamed for not paying enough attention to “obvious”…

January 14, 2014 BY Gerald Segal

CFTC fines Introducing Broker $50,000 for failed record keeping

New World Holdings destroyed business records and failed to diligently supervise employees Chicago based introducing broker New World Holdings (NWH) has been imposed a fine by the US Commodity Futures trading commission as it failed to keep proper records of its customers and neglected employee supervision. The monetary penalty amounts to $50,000 while the court…

January 02, 2014 BY Gerald Segal

Russian Bank President fined by CFTC $250,000 for false statements

Mr Artem Obolensky suffers a rare foreign national penalty under The Dodd-Frank Act The first regular working day of the year is under way and the CFTC is already enforcing a rare action against a foreign national. The regulator has released a press release that informs us of a settlement with Russian national Artem Obolensky…

December 24, 2013 BY Gerald Segal

CFTC grants substituted compliance with regulations from six regions worldwide

CFTC recognizes some foreign regulators’ oversight of key swaps components, causes more confusion Friday afternoon saw a plethora of press releases by the CFTC which instead of clearing out the rulebook by which swaps and derivatives clearing counterparties have to comply with, effectively caused even more confusion and chaos. The CFTC announced local companies can…

December 18, 2013 BY Gerald Segal

LCH.Clearnet gets CFTC license to clear derivatives

Top tier FX derivatives and CFD’s liquidity provider is already regulated by FCA and ACP The Commodity Futures Trading Commision has announced in a statement on Tuesday that it has granted a license to Banque Centrale de Compensation, part of LCH.Clearnet SA (LCH.C SA) a registration to handle derivatives transactions as a derivatives clearing organization…

November 07, 2013 BY Gerald Segal

AlphaMetrix has $700 mln frozen

The CFTC states that the company misappropriated funds belonging to commodity pools and sent false or misleading account statements AlphaMetrix, which was ironically marketed to investors as a safe-house against the likes of Bernie Madoff, finds itself in some hot waters. Based in Chicago, the US company provides customers with opportunities to invest in futures…

November 06, 2013 BY Gerald Segal

LeapRate Forex Fraud Watch - Donald R. Wilson and DRW Investments

DRW Investments filed a pre-emptive lawsuit against the US regulator The CFTC filed a civil lawsuit against Donald R. Wilson and his company DRW Investments, LLC. Charges are for unlawful manipulation of a 3-month interest rate swap futures contract in a period of at least 8 months – between January and August 2011. According to…

November 06, 2013 BY Gerald Segal

CFTC requires IBs to be licensed

The Dodd-Frank act is coming back to haunt introducing brokers next A new proposed rule has been issued by the CFTC to require all IBs (introducing brokers) to get membership in a Registered Futures Association (RFA). This essentially means that they have to become members of the National Futures Association as of right now it…

Tag: CFTC regulation