Tag: Commodity Futures Trading Commission

March 29, 2019 BY Valentina Kirilova

Futures trader fined more than $1 million for fraud

The Commodity Futures Trading Commission (CFTC) has just announced that an individual named William H. Powderly IV of New Hope, Pennsylvania, has been fined $1,083,138 by the federal court in Illinois for fraudulently soliciting customers and distributing false account statements.  Powderly misled customers, letting them know that he and a university professor developed a commodity futures…

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Woodbridge Group of Companies LLC and former owner Robert H. Shapiro fined $1 billion
December 18, 2018 BY Valentina Kirilova

Blue Star Trading and owner charged with ongoing forex and commodity fraud

The Commodity Futures Trading Commission (CFTC) has just announced that it has filed a complaint against Dro Kholamian and his company, Blue Star Trading, LLC. Blue Star Trading has fraudulently solicited potential clients to trade through accounts they would manage leveraged off-exchange FX currency and commodity futures contracts, but instead the company has misappropriated those funds. According to CFTC, Kholamian…

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CFTC offices
December 17, 2018 BY Valentina Kirilova

CFTC releases primer on Blockchain Technology and Smart Contracts

When we think of regulators, we normally envision government officials auditing financial service firms, incarcerating fraudsters, and generally being a pain in the neck for all those within their purview, but one key part of their mission statement is also to educate the investing public and keep them aware of important trends. In that latter…

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sec charges
October 01, 2018 BY Valentina Kirilova

CFTC charges interdealer broker TFS-ICAP with fraud

The Commodity Futures Trading Commission (CFTC) has announced that it has charged interdealer broker TFS-ICAP LLC and TFS-ICAP Ltd. (TFS-ICAP) with fraud and supervision failures. In a Complaint filed in the U.S. District Court for the Southern District of New York, the CFTC alleges that, from approximately 2008 through 2015, brokers at TFS-ICAP offices in…

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SFC fines
September 24, 2018 BY Valentina Kirilova

CFTC fines Mizuho Bank $250,000

The Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against Mizuho Bank, Ltd. (Mizuho) for engaging in multiple acts of spoofing in a variety of futures contracts on the Chicago Mercantile Exchange and the Chicago Board of Trade, including futures contracts based on United States Treasury notes and Eurodollars. The…

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CFTC offices
July 20, 2018 BY Valentina Kirilova

CFTC reduces risk for customer funds held by derivatives clearing organizations

The Commodity Futures Trading Commission (CFTC) has unanimously approved an order that allows registered derivatives clearing organizations (DCOs) to invest customer euro cash in French and German sovereign debt. Allowing DCOs to invest customer euro cash in high-quality European sovereign debt poses less risk than the current practice of holding customer euro cash at commercial…

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June 29, 2018 BY Valentina Kirilova

SEC and CFTC announce approval of new MoU

The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have announced that the two agencies have approved a Memorandum of Understanding (MOU) that will help ensure continued coordination and information sharing between the two agencies. The MOU updates and enhances a 2008 MOU to make it more relevant in the current…

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February 16, 2018 BY Valentina Kirilova

CFTC warns against pump-and-dump virtual currency schemes

The Commodity Futures Trading Commission (CFTC) has issued a Customer Protection Advisory that warns customers to beware of and avoid pump-and-dump schemes that can occur in thinly traded or new “alternative” virtual currencies, digital coins or tokens. As with many online frauds, this type of scam is not new - it simply deploys an emerging…

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