CFTC Says Virtual Currencies Are a “Commodity” Under Federal Law, Files Charges Against Coinflip for Operating an Unregistered Bitcoin Options Trading Platform -
The Commodity Futures Trading Commission filed and...more
9/22/2015
/ Algorithmic Trading ,
Australia ,
Basel III ,
Bitcoin ,
Block Trades ,
C-Suite Executives ,
Canada ,
Cease and Desist Orders ,
CEOs ,
CFTC ,
Chicago Mercantile Exchange (CME) ,
Commodities ,
Criminal Prosecution ,
Cybersecurity ,
Derivatives ,
Designated Contract Markets (DCMs) ,
Enforcement Actions ,
FDIC ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Industry Examinations ,
Layering ,
Liquidity Risk Management Rule ,
Reporting Requirements ,
Sanctions ,
Securities and Exchange Commission (SEC) ,
SEFs ,
Spoofing ,
Swap Dealers
Alleged Flash Crasher's Formal Indictment Provides More Details Regarding His Purported Spoofing -
The US Department of Justice filed a formal indictment against Navinder Singh Sarao in a US federal court in Chicago on...more
9/15/2015
/ Bitcoin ,
Broker-Dealer ,
Brokers ,
C-Suite Executives ,
CFTC ,
Chicago Mercantile Exchange (CME) ,
Commodities ,
Corporate Officers ,
Criminal Prosecution ,
Cybersecurity ,
Department of Justice (DOJ) ,
Disruptive Trading Practices ,
Enforcement Actions ,
European Securities and Markets Authority (ESMA) ,
Extradition ,
Filing Requirements ,
Financial Conduct Authority (FCA) ,
Financial Statements ,
Forex ,
Government Investigations ,
Hedging ,
Indictments ,
Investment Funds ,
Libor ,
Misleading Statements ,
NFA ,
Price Manipulation ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Spoofing ,
Trade Market Abuse ,
UK ,
Willful Misconduct
CME Group Files Disciplinary Actions for Trading Ahead of Block Trades and Failure to Supervise an Employee Engaging in Disruptive Trading Activities -
In two cases of first impression, CME Group exchanges brought and...more
8/25/2015
/ Audits ,
Bank of New York (BNY) Mellon ,
Block Trades ,
Broker-Dealer ,
CFTC ,
Chicago Mercantile Exchange (CME) ,
CME NYMEX ,
Disruptive Trading Practices ,
DMO ,
Employer Liability Issues ,
Enforcement Actions ,
EU ,
Foreign Corrupt Practices Act (FCPA) ,
Internships ,
Investment Adviser ,
Material Nonpublic Information ,
NYDFS ,
OIG ,
Recordkeeping Requirements ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Swap Clearing ,
Swaps
Hackers and Traders Charged by SEC and Department of Justice in International Securities Fraud Scheme -
The computer servers of three major newswire companies were allegedly hacked as part of an elaborate illicit...more
8/18/2015
/ Administrative Law Judge (ALJ) ,
Appointments Clause ,
BP ,
CFTC ,
Chicago Mercantile Exchange (CME) ,
Conflicts of Interest ,
Counterparties ,
Criminal Prosecution ,
Dark Pool ,
Department of Justice (DOJ) ,
EMIR ,
European Securities and Markets Authority (ESMA) ,
FERC ,
Hackers ,
Indictments ,
Natural Gas ,
Preliminary Injunctions ,
Regulation SHO ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Swap Dealers ,
Trade Market Abuse ,
UK
ESMA Says “No for Now” to Granting Passport Rights to US Fund Managers Under AIFMD -
The European Securities and Markets Authority told the European Commission last week that it was premature to grant passport rights to...more
8/11/2015
/ Alternative Investment Fund Managers Directive (AIFMD) ,
BATS Exchange ,
Broker-Dealer ,
CBOE ,
CFTC ,
Chicago Mercantile Exchange (CME) ,
Dark Pool ,
Disclosure Requirements ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Securities and Exchange Commission (SEC) ,
Spoofing ,
Virtual Currency ,
Wash Trades
ESMA Says “No for Now” to Granting Passport Rights to US Fund Managers Under AIFMD:
The European Securities and Markets Authority told the European Commission last week that it was premature to grant passport rights to...more
8/4/2015
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Australia ,
Broker-Dealer ,
Canada ,
CBOE ,
CFTC ,
Chicago Mercantile Exchange (CME) ,
CME NYMEX ,
Dark Pool ,
Disruptive Trading Practices ,
Enforcement Actions ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Fund Managers ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Internal Controls ,
Japan ,
Securities and Exchange Commission (SEC) ,
Virtual Currency ,
Wash Trades
FC Stone Companies and Goldman Sachs Receive Largest Fines in CME Group’s 27 Disciplinary Actions Cascade:
CME Group handed down sanctions in 27 separate disciplinary actions last week for alleged violations of rules...more
7/28/2015
/ Alternative Investment Fund Managers Directive (AIFMD) ,
AML/CFT ,
Broker-Dealer ,
Capital Requirements ,
CFTC ,
Chicago Mercantile Exchange (CME) ,
Commercial Bankruptcy ,
Commodity Trading Advisors (CTAs) ,
Creditors ,
Dodd-Frank ,
DSIO ,
EU ,
European Securities and Markets Authority (ESMA) ,
Goldman Sachs ,
ISDA ,
Rare Earth Metals ,
Sanctions
Et tu, CFE? CBOE Futures Proposes Amended Disruptive Practices Rules and New Related Policies and Procedures:
CBOE Futures Exchange became the latest designated contract market to propose specific rules to ban disruptive...more
7/21/2015
/ Australia ,
CBOE ,
CFTC ,
Chicago Mercantile Exchange (CME) ,
Chief Compliance Officers ,
Cross-Border Transactions ,
Disruptive Trading Practices ,
Dodd-Frank ,
Enforcement Actions ,
Flash Crash ,
Insider Trading ,
Nasdaq ,
Securities and Exchange Commission (SEC) ,
Swaps ,
U.S. Treasury
CME Group Summarily Suspends Trading Privileges of Two Traders Without Hearing for Alleged Spoofing and Non-Cooperation -
Less than two weeks after civil and criminal charges were filed by the Commodity Futures Trading...more
5/5/2015
/ Algorithmic Trading ,
Capital Markets ,
CFTC ,
Chicago Mercantile Exchange (CME) ,
Code of Conduct ,
Counterparties ,
Cybersecurity ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Financial Institutions ,
Flash Boys ,
Futures Commission Merchants (FCMs) ,
Investment Adviser ,
Non-US Entities ,
Securities and Exchange Commission (SEC) ,
Security-Based Swaps ,
Spoofing ,
Suspensions & Debarments
Manipulation Is Not Hedging Says CFTC in Federal Court Lawsuit Against Kraft Foods Group and Mondelez Global -
The Commodity Futures Trading Commission filed a lawsuit against Kraft Foods Group, Inc. and Mondelez...more
CME Group Reminds Members of Regulatory Requirements for EFRPs and Block Trades Through Disciplinary Actions: The CME Group brought and resolved multiple disciplinary actions against various members and non-members related to...more
2/24/2015
/ Anti-Money Laundering ,
Block Trades ,
Broker-Dealer ,
Chicago Mercantile Exchange (CME) ,
Compliance ,
Disciplinary Proceedings ,
EFRP ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Insider Trading ,
MiFID II ,
Red Flags Rule ,
Securities and Exchange Commission (SEC) ,
UK
Swiss Franc-Euro Decoupling Spurs Worldwide Legal and Regulatory Fallout -
Following the unexpected decoupling by the Swiss National Bank (SNB) of the Swiss franc-Euro exchange rate on January 15; the subsequent...more
CFTC Issues CME Group Report Card: Scores Generally Good But NYMEX and COMEX Directed to Continue to Enhance Spoofing Surveillance -
The Chicago Mercantile Exchange Group found early presents under its Christmas tree...more
12/2/2014
/ Broker-Dealer ,
CFTC ,
Chicago Mercantile Exchange (CME) ,
Citigroup ,
CME NYMEX ,
Cross-Border ,
Deutsche Bank ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
HSBC ,
IOSCO ,
Regulatory Standards ,
Sanctions ,
Securities and Exchange Commission (SEC)
NJ-Based Trader Previously Sanctioned by UK FCA, CFTC and CME Indicted in Chicago for Same Spoofing Offenses -
New Jersey resident Michael Coscia, the prior manager and sole owner of Panther Energy Trading LLC, was...more
10/7/2014
/ CFTC ,
Chicago Mercantile Exchange (CME) ,
Commodities ,
Corporate Liability ,
Disruptive Trading Practices ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Fraud ,
Futures ,
Indictments ,
Price Manipulation ,
Securities and Exchange Commission (SEC) ,
UK
CFTC Proposes Margin Rules for Uncleared Swaps and Approves Special Treatment for Operations-Related Swaps With Certain Government-Owned Natural Gas and Electric Utilities -
A few weeks after the Federal Reserve Bank...more
9/24/2014
/ Block Trades ,
CFTC ,
Chicago Mercantile Exchange (CME) ,
Commodity Futures Contracts ,
Cross-Border Transactions ,
Derivatives ,
Electricity ,
Enforcement Actions ,
Federal Reserve ,
High Frequency Trading ,
IOSCO ,
Major Swap Participants ,
Margin Requirements ,
Natural Gas ,
Price Manipulation ,
Prudential Regulation Authority (PRA) ,
Securities and Exchange Commission (SEC) ,
Short Sales ,
Swap Dealers ,
Swaps ,
Utilities Sector
On August 28, the Chicago Mercantile Exchange, Chicago Board of Trade, New York Mercantile Exchange and Commodity Exchange, Inc. (Exchanges) notified the Commodity Futures Trading Commission that they have adopted a new Rule...more