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Regulation

in Analysis, Regulation

NFA Hits FXDD Officer

The National Futures Association has fined James Green, chief compliance officer and principal of FX Direct Dealer (FXDD) $75,000 for breaching anti-money laundering (AML) practices and failing to adequately supervise FXDD’s operations. In addition to the fine, Green agreed to ...

in Analysis, Regulation

NFA Hits Interactive Brokers...

The US National Futures Association (NFA) has issued a $300,000 fine against Connecticut-based Interactive Brokers for infringing NFA rules. The Decision, issued by NFA's Business Conduct Committee, is based on Complaints filed on February 18, 2012 and July 5, 2013 and a settlement offer submitted ...
Commission (CFTC), along with CME Group and the UK Financial Conduct Authority, has fined high frequency trading firm Panther Energy Trading for “spoofing”. CFTC issued an Order filing and simultaneously settling charges against New Jersey-based Panther Energy Trading and Michael ...
A new study commissioned by State Street finds that buy-side firms are unprepared for new trading mechanisms, costs and increased complexity and should partner with established providers to adapt to an evolved OTC derivatives marketplace. The new research paper, From ...

in Analysis, Regulation

EC, CFTC Align on Rules

Industry hopes for some much needed consistency over the raft of regulation surrounding derivatives markets has been given a boost.  The European Commission (EC) and the US Commodity Futures Trading Commission (CFTC) have announced an agreement on a package of ...

in Analysis, Regulation

CFTC Hits Fraudsters

The US Commodity Futures Trading Commission (CFTC) has obtained a federal court order against Chicago-based Christopher Varlesi, individually and conducting business as Gold Coast Futures and Forex. He has been ordered to pay restitution of more than $638,000 to defrauded investors ...
Alice Attwood reports on efforts by the US regulator to close the book on two recent high profile failures. The US Commodity Futures Trading Commission (CFTC) has filed an enforcement action against MF Global, its former CEO and assistant treasurer, ...

in Analysis, Regulation

CFTC Extends FXPB Relief

Colin Lambert reports as the US regulator accepts industry arguments over FX intermediaries. Following the issuance of a Time Limited No Action Letter aimed at absolving FX prime brokers from the need to report mirror trades, the US Commodity Futures ...
Colin Lambert reports as the CFTC offers a glimmer of respite to market participants. The May 1 deadline for reporting of trades and other rules was marked by the US Commodity Futures Trading Commission (CFTC) offering some relief to market participants ...

in Analysis, Regulation

CFTC Unveils SEF Rules

Colin Lambert reports as the US CFTC brings some much-needed clarity to derivatives markets. On May 16, the US Commodity Futures Trading Commission voted to enact three measures that completed, according to CFTC chair Gary Gensler, “all of the major building ...