All Commodity Futures Trading Commission articles – Page 5
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ArticleCFTC commissioner says Cantor Fitzgerald unit’s $1.9M fine too lenient
Christy Goldsmith Romero believes the Commodity Futures Trading Commission let a swap execution facility affiliate of financial services firm Cantor Fitzgerald off easy when it was fined $1.9 million.
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ArticleADM unit fined $500K by CFTC for supervision failures
ADM Investor Services, a futures broker affiliate of food processing giant ADM, agreed to pay $500,000 to settle CFTC charges it failed to properly supervise its employees and agents in their handling of commodity interest accounts.
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ArticleCompliance deficiencies highlighted in $1.8B crackdown on messaging apps
Eleven banks, investment firms, and their affiliates will pay a total of more than $1.8 billion in fines for “widespread and longstanding failures” in monitoring, maintaining, and preserving electronic communications by employees.
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ArticleCFTC commissioner calls for agency to require more admissions of guilt
Commissioner Christy Goldsmith Romero would like the Commodity Futures Trading Commission to stop offering no-fault settlements as a matter of routine but instead force more individuals and corporations to accept responsibility for their wrongdoing.
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ArticleNatixis agrees to $2.8M CFTC fine for oversight failures
Natixis, a Paris-based global bank and swap dealer, will pay a $2.8 million fine to the Commodity Futures Trading Commission to settle charges it failed to prevent rogue traders from submitting false and misleading entries on trades over five years.
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ArticleBig bank messaging app crackdown exposes policy holes, monitoring struggles
U.S. regulators have signaled through an impending widespread enforcement sweep they are zeroing in on banker use of messaging apps to discuss business matters. The cases emphasize the need for financial services firms to enhance their monitoring and recordkeeping.
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ArticleSEC, CFTC propose large hedge funds provide more financial disclosure
The SEC and CFTC proposed expanding Form PF disclosure requirements for large hedge funds to include more information on their investment strategies, investment exposure, open positions, and borrowing arrangements with counterparties, among other areas.
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ArticleMorgan Stanley reaches $200M agreement over unauthorized electronic messages
Morgan Stanley has reached agreements in principle totaling $200 million with the SEC and CFTC to settle charges its employees used messaging platforms not approved by the financial services company.
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ArticleCrypto regulation back in spotlight after SEC securities claims
The Securities and Exchange Commission’s move to classify nine cryptocurrencies as securities as part of insider trading charges it brought against a former Coinbase manager has touched a nerve with other regulators, particularly the Commodity Futures Trading Commission.
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ArticleCFTC fines BNP Paribas, JPMorgan for swap reporting violations
BNP Paribas and JPMorgan Chase agreed to pay penalties of $6 million and $850,000, respectively, in separate settlements with the Commodity Futures Trading Commission for swap reporting violations dating back years.
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ArticleLummis-Gillibrand bill would regulate crypto for first time
The Responsible Financial Innovation Act, introduced by Sens. Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.), seeks to regulate digital assets, blockchain technology, and cryptocurrencies in the United States for the first time.
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ArticleCFTC comment request gauging future action on climate-related risks
The Commodity Futures Trading Commission is seeking public comment on climate-related financial risks that could inform the agency’s future guidance, interpretations, policy statements, and/or rulemaking.
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ArticleGlencore fined $1B, placed under 3-year monitorship for FCPA violations
Glencore International AG, one of the world’s largest commodity traders, will be placed under a three-year compliance monitorship and pay more than $1 billion to resolve multiple investigations into alleged bribes paid in several countries over more than a decade.
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ArticleCFTC proposal furthers transition from LIBOR in swaps
The Commodity Futures Trading Commission proposed a rule that would replace certain swap rate clearing requirements pegged to the London Interbank Offered Rate with other alternative reference rates that are less susceptible to manipulation.
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ArticleArchegos founder Bill Hwang indicted for fraud; chief risk officer pleads guilty
Bill Hwang, the founder of Archegos Capital Management, was arrested and charged with racketeering conspiracy, securities fraud, and wire fraud for orchestrating a multibillion-dollar market manipulation scheme that resulted in the U.S. hedge fund’s collapse.
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ArticleCFTC: Ex-portfolio manager found liable in commodity pool fraud case
The Commodity Futures Trading Commission announced Edward Walczak, former portfolio manager for Catalyst Capital Advisors, was found liable by a jury for violating the Commodity Exchange Act.
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SEC proposes Dodd-Frank rule requiring security-based swaps to hire CCOs
The Securities and Exchange Commission proposed a regulatory framework for security-based swap execution facilities that will require these entities to hire a chief compliance officer to oversee compliance with new rules.
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ArticleNew-look CFTC hails diversity after four commissioners confirmed
The Commodity Futures Trading Commission will feature its “most diverse set of commissioners in the agency’s history” after the Senate confirmation of four nominees—all women, and three women of color—to vacant board seats.
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ArticleIndictment: Infinity Q founder’s attempts to hide fraud aided by CCO
The Department of Justice charged James Velissaris, the former chief investment officer and founder of Infinity Q Capital Management, for his role in a scheme to defraud investors by overvaluing derivative swap positions.
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ArticleCFTC delays compliance for new swap data reporting rule until December
A May 2022 deadline for compliance with amended swap data reporting requirements has been delayed six months by the Commodity Futures Trading Commission to allow market participants more time to comply.