CFTC Issues Advisory to FCMs on Virtual Currencies

The Division of Swap Dealer and Intermediary Oversight (DSIO) of the Commodity Futures Trading Commission (CFTC) issued an advisory to futures commission merchants (FCMs) regarding the holding of virtual currency in segregated accounts. The advisory provides guidance to FCMs on how to hold and report certain deposited virtual currency from customers in connection with physically […]

CFTC, BoE Sign Cross-Border Clearing MOU

The Commodity Futures Trading Commission (CFTC) and the Bank of England (BoE) today announced that they have signed an updated Memorandum of Understanding (MOU) regarding cooperation and the exchange of information in the supervision and oversight of clearing organisations that operate on a cross-border basis in the US and UK. The MOU strengthens the relationship between […]

CFTC’s Enforcement Director Leaves on a Sanctions’ High

James McDonald, director of the Commodity Futures Trading Commission’s Division of Enforcement (DoE) is stepping down with immediate effect, having been in the position since April 2017. He leaves at the same time as the CFTC unveils a record-breaking year for enforcement actions by the DoE. McDonald joined the CFTC after serving as an assistant […]

CFTC Files Charges Against BitMEX Owners, Entities

The Commodity Futures Trading Commission (CFTC) today announced the filing of a civil enforcement action in the US District Court for the Southern District of New York charging five entities and three individuals that own and operate the BitMEX trading platform with operating an unregistered trading platform and violating multiple CFTC regulations, including allegedly failing to implement […]

CFTC Fines Morgan Stanley for Swap Data Reporting Failures

The Commodity Futures Trading Commission (CFTC) yesterday announced that it has filed and settled charges against Morgan Stanley Capital Services LLC, a provisionally registered swap dealer, for failing to comply with swap data reporting obligations. The order requires Morgan Stanley to pay a $5 million civil monetary penalty and to retain a qualified outside consultant to verify […]

And Another Thing…

Because, if nothing else, this column is an information service, this will be brief and to the point – and, hopefully, informative. Are you wondering why we are seeing so many spoofing cases in the US? If you are then you’re probably thinking that the activity is out of control over there – and it […]

CFTC Fines Morgan Stanley for Reporting Failures

The US Commodity Futures Trading Commission (CFTC) has fined Morgan Stanley Capital Services $5 million for reporting failures under its obligations as a registered swap dealer – the firm is also instructed to retain a qualified outside consultant to verify its remediation of the violations of CFTC rules. The order finds that since December 31, […]

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 […]

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