Mr. Ananda Kathiravelu, of Perth, Western Australia, is a a corporate adviser to a series of Australian companies, including Armada Capital Pty Ltd. Kathiravelu has been in the financial services business for over 20 years and has served as a director to a number of companies. Mr. Kathiravelu has been charged with conspiracy to manipulate…
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LeapRate Exclusive... Andrey Stoychev has been recently promoted to Executive Director Trading and a Board Member of the multi-asset fintech company JFD Group. The company, on the other hand, after the successful acquisition of the German-based ACON bank has changed its name and combined retail and institutional services under the brand JFD Bank, making the…
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The U.S. Securities and Exchange Commission today announced fraud charges against a Ukraine-based trading firm accused of manipulating the U.S. markets hundreds of thousands of times and the New York-based brokerage firm and CEO who allegedly helped make it possible. The SEC’s complaint alleges that Avalon FA Ltd touted itself to traders as a destination…
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The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge Amy J. St. Eve of the U.S. District Court for the Northern District of Illinois entered a Consent Order of Permanent Injunction (Order) against Defendants Igor B. Oystacher and his proprietary trading company, 3Red Trading LLC (3Red), both of Chicago, Illinois, finding that the Defendants engaged in a…
Read moreAfter banning Paul White, a former a Japanese Yen (JPY) and Swiss Franc (CHF) LIBOR submitter at Royal Bank of Scotland Group plc (LON:RBS), the Financial Conduct Authority (FCA) today makes another move in relation to its investigation into LIBOR manipulation. The UK regulator published a Decision Notice regarding Mr Arif Hussein, a former derivatives…
Read moreThe UK Financial Conduct Authority (FCA) today announced the imposition of a ban on Paul White, a former a Japanese Yen (JPY) and Swiss Franc (CHF) LIBOR submitter at Royal Bank of Scotland Group plc (LON:RBS). Mr White is banned from performing any function in relation to any regulated financial activity. The FCA has ruled…
Read moreBats Global Markets (Bats) received Securities and Exchange Commission approval of the Bats Client Suspension Rule, assisting the company in taking swifter action to prohibit manipulative behavior, such as spoofing and layering, on the Bats Exchanges. The Rule, which was approved February 18th, distinguishes itself by specifically addressing disruptive quoting and trading practices, such as…
Read moreA jury at Southwark Crown Court on Thursday acquitted Darrell Paul Read, a former employee of ICAP plc (LON:IAP), of all charges related to alleged manipulation of LIBOR. The decision was made one day after other five defendants were found not guilty on counts of conspiring to manipulate LIBOR. Mr Read was found not guilty on…
Read moreThe UK Serious Fraud Office (SFO) today provided an update regarding its criminal investigation into the manipulation of LIBOR. A jury at Southwark Crown Court today found five individuals not guilty of conspiracy to defraud via the alleged manipulation of LIBOR. Colin John Goodman, Danny Martin Wilkinson, Terry John Farr, James Andrew Gilmour and Noel…
Read moreThe UK Court of Appeal today ruled to reduce the prison sentence of former UBS and Citi trader Tom Hayes, convicted of LIBOR manipulation. The sentence was cut from 14 years to 11 years. The new ruling, in response to Mr Hayes' appeal to the previously issued sentence, took into account all the circumstances, including…
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