Tag: CFTC

CFTC

CFTC Fines Citi for Deleted Voice Recordings

The US Commodity Futures Trading Commission (CFTC) has fined three Citi affiliates $4.5 million for failing to diligently supervise their audio preservation system, which led to the deletion of almost 2.8 million audio recordings, some of which were subject to a CFTC subpoena. In an Order filing and settling the charges, CFTC says in spite […]

CFTC Nails Another Two Spoofers

In its continuing battle against spoofing, the US Commodity Futures Trading Commission (CFTC) has issued two orders filing and settling charges against Thomas Donino and his employer FNY Partners Fund, for spoofing Comex gold futures and NYMEX oil futures. In a separate action, the Commission charged Slovakians Roman Banoczay Jr., Roman Banoczay Sr., and their […]

FIA Voices Support for CFTC’s Electronic Trading Proposal

FIA and FIA PTG today submitted comments supporting the Commodity Futures Trading Commission’s (CFTC) Electronic Trading Risk Principles rule proposal. FIA says the CFTC proposal “reflects a carefully reasoned principles-based approach that builds on the industry’s efforts over the years to mitigate the risks of electronic trading”. In its statement, FIA strongly encourages the agency to prioritise […]

CFTC Fines Oanda

The US Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against retail FX broker Oanda Corporation for violating certain capital, reporting, and supervision rules and invoked a fine of $500,000. The order finds that, in or around October 2018 and during the period April 2019 to August 2019, Oanda failed at […]

CFTC Clobbers Bank of Nova Scotia with $127 Million Spoofing Fine

The US Commodity Futures Trading Commission has issued three Orders filing and settling charges against Bank of Nova Scotia for spoofing in precious metals futures, making false statements to US regulators and  for compliance and oversight failures. The bank has been fined a total of $127.4 million. The first two orders require Scotia to pay […]

US Agencies Slap Interactive Brokers with $38 Million Fine

Three US regulators, the Commodity Futures Trading Commission (CFTC), Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) have filed and settled charges against Interactive Brokers and fined the firm $38 million, for failing to diligently supervise the handling of customer trading accounts, as well as failing to adequately implement procedures to […]

In the FICC of It

The move by Refinitiv to a 5ms data feed on its Spot Matching platform has grabbed Colin Lambert’s attention this week, leading him to call for an open debate in the FX industry over the length of last look windows. With both primary venues at 5ms, is it now the time for platforms to step […]

Busy Day in Washington Leads to Raft of Rule Changes

On Thursday, June 25, five federal regulatory agencies finalised a rule modifying the Volcker rule’s prohibition on banking entities investing in or sponsoring hedge funds or private equity funds – known as covered funds. The rule takes effect on October 1. The agencies included the Federal Reserve Board, the Commodity Futures Trading Commission (CFTC), the […]

Takeover of Gain Proceeds: Firm gets Hit by CFTC

It has been a hectic week for Gain Capital, with, just days after 71.2% of its shareholders agreed to the terms of the takeover by INTL FC Stone, the being hit by the US Commodity Futures Trading Commission (CFTC) over client onboarding irregularities at its UK arm. Just over 85% of the votes cast at […]