The US government is currently shutdown. This is one of the longest shutdowns of the US government ever in history….
Read More
CFTC issues proposed rule on cross-border margin
Should the proposed rule be implemented, U.S. covered swap entities would be required to comply with the Commission’s margin rules for all uncleared swaps but would be eligible for substituted compliance with respect to margin that they post (but not that they collect) for swaps with certain non-U.S. counterparties
Read MoreBarclays to pay largest ever Foreign Exchange and ISDAfix settlement at £1.53 billion
Barclays is subject to £1.53 billion in fines from 6 US and British authorities, representing the highest fiscal penalty paid so far by any single institution with regard to the FX manipulation cases that have been ongoing since mid 2013
Read MoreAmerican federal regulator FINRA strengthens sanctions against fraudsters
The revised Sanction Guidelines now advise FINRA adjudicators to strongly consider barring an individual respondent, or expelling a firm, for cases involving fraud
Read MoreSEC and FINRA to hold national compliance outreach program for Broker-Dealers
The joint outreach program will be held on July 14 at the SEC’s Washington D.C. headquarters, with topics of interest on the agenda including cybersecurity, anti-money laundering, and firms’ approaches to supervision and sales practices
Read MoreIMF will not let yuan join GBP, EUR and USD, says Jack Lew
US Secretary of the Treasury Jack Lew returns from China and states that the Yuan is not ready for the prime time
Read More$60,000 fine from NFA for Nextsource Trading for exercising discretion over customer accounts
The NFA found that Nextsource Trading Corporation, a clearing member on CME and ICE, had entered discretionary trades on customer accounts without authorization
Read MoreFINRA appoints former Executive Vice President of NYSE as Floor Member Governor
Joseph M. Mecane has been appointed Floor Member Governor on FINRA’s Board of Governors. Mr. Mecane is currently a Managing Director of Electronic Equities and Credit Products at Barclays, and previously served as EVP at NYSE
Read MoreFXDD reaches $500,000 settlement with NFA over administrative issues
Retail forex broker FXDD and the US National Futures Association (NFA) have agreed on a $500,000 settlement relating to administrative…
Read MoreCFTC sends Paul Greenwood to jail for $1.3 billion fraud
North American commodity pool operator Paul Greenwood’s fraudulent scheme had such high value that the receiver’s efforts to marshal assets to date have resulted in the recovery of over $900 million dollars, with the perpetrator facing 10 years in jail
Read More
