- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2022-09-30T15:08:00
A futures broker affiliate of food processing giant ADM agreed to pay $500,000 to settle charges it failed to properly supervise its employees and agents in their handling of commodity interest accounts.
ADM Investor Services was penalized by the Commodity Futures Trading Commission (CFTC) for failing to detect repeated incidents where brokers employed by ADM executed improper or fictitious trade transfer requests that violated the Commodity Exchange Act and CFTC regulations. Most of the alleged activities occurred from 2016-19, although one broker’s misconduct dated back to 2012, according to the CFTC’s order.
The pattern of misconduct was not detected and halted because of inadequate compliance policies and procedures related to requests by ADM brokers to transfer, allocate, or move existing trades between or among customer accounts, the CFTC said.
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
2025-04-28T21:38:00Z By Aaron Nicodemus
Whistleblowing in the United States is being buffered by uncertainty from regulators who are backing off policing corruption and consumer protections. Regulators like the Department of Justice and the Securities and Exchange Commission are being thrown into disarray by layoffs and restructuring. Still, whistleblowers will likely continue coming forward.
2025-04-28T20:40:00Z By Adrianne Appel
Compliance can be a highly fulfilling job but one that is tough and sometimes lonely, too. But participants at the Women in Compliance Brunch & Learn session at Compliance Week’s 20th anniversary national conference agreed community was the solution, though it can come in different ways.
2025-04-24T18:07:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau (CFPB) has quickly become one of the most active agencies advancing the Trump administration’s pullback on prosecuting corporations, as it dropped yet another consumer protection lawsuit against a financial services company Wednesday.
2025-04-22T12:00:00Z
The Federal Trade Commission (FTC) filed a lawsuit against Uber, alleging the ride-hailing company signed customers up for its Uber One subscription without consent, then made it hard for them to cancel. The move marks the U.S. government’s latest broadside against big tech companies, and the first major action from ...
2025-04-18T17:45:00Z By Oscar Gonzalez
The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
2025-04-15T07:30:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.
Site powered by Webvision Cloud