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Anthony Perrotta, TABB

Increased regulation of US Treasury market may cause more harm than good, says TABB

Tue, 27/09/2016 - 14:26

Following the extreme market volatility experienced in October 2014, the regulatory agencies that oversee the US Treasury market began efforts to examine market structure and determine whether increased regulation is required. »

James Burron, AIMA

AIMA Canada welcomes CSA’s update of alt investment legislation

Mon, 26/09/2016 - 07:27

AIMA Canada, the national group of the Alternative Investment Management Association, has welcomed the Canadian Securities Administrator’s (CSA’s) proposed amendments to National Instrument 81-102 and related National Instruments. »

Advantage Futures, CEO and ex-chief risk officer to pay USD15.m to settle CFTC charges

Advantage Futures, CEO and ex-chief risk officer to pay USD15.m to settle CFTC charges

Fri, 23/09/2016 - 13:48

Advantage Futures, a Chicago-based futures commission merchant (FCM), the firm’s CEO Joseph Guinan and former chief risk officer William Steele are to jointly pay USD1.5 million to settle CFTC charges over supervision and risk management failures, and making inaccurate statements in CFTC fillings. »

SEC charges hedge fund manager Leon Cooperman with insider trading

SEC charges hedge fund manager Leon Cooperman with insider trading

Fri, 23/09/2016 - 08:42

The Securities and Exchange Commission (SEC) has charged hedge fund manager Leon G Cooperman and his firm Omega Advisors with insider trading based on material non-public information he learned in confidence from a corporate executive. »

Yieldbroker receives approval to access US market

Yieldbroker receives approval to access US market

Thu, 22/09/2016 - 09:27

Yieldbroker, Australia’s over-the-counter (OTC) interest rate exchange, has become the first foreign-regulated, multilateral swap trading facility to receive long-term approval to access US-based customers. »

Buy-side firms prioritise liquidity and relationships in broker selection process

Buy-side firms prioritise liquidity and relationships in broker selection process

Tue, 13/09/2016 - 08:48

The regulatory challenges and cost pressures facing buy-side firms are putting further demands on the sell-side to prove their relationship value, according to a study by TABB Group. »

Money market funds to reduce ABCP investments with new US and European regulation, says Moody’s

Money market funds to reduce ABCP investments with new US and European regulation, says Moody’s

Mon, 12/09/2016 - 13:26

The overall volumes that money market funds (MMFs) invest globally in asset-backed commercial paper (ABCP) will likely fall as the prime MMF industry shrinks, says Moody's Investors Service. »

Federal Court dismisses Yucaipa lawsuit against Black Diamond and Spectrum

Federal Court dismisses Yucaipa lawsuit against Black Diamond and Spectrum

Mon, 12/09/2016 - 08:56

Alternative investment firm Black Diamond Capital Management and alternative asset manager Spectrum Group Management have received a favourable ruling in their long running dispute with Yucaipa in connection with their investment in Allied Systems.  »

FASB proposes changes to hedge accounting guidance

FASB proposes changes to hedge accounting guidance

Fri, 09/09/2016 - 08:46

The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update (ASU) that would make targeted improvements to the accounting guidance for hedging activities. »

CFTC charges Deutsche Bank with multiple swap reporting violations

CFTC charges Deutsche Bank with multiple swap reporting violations

Wed, 24/08/2016 - 08:48

The US Commodity Futures Trading Commission (CFTC) has charged Deutsche Bank with failing to report any swap data for multiple asset classes for five days, submitting incomplete and untimely swap data, failing to supervise its employees responsible for swap data reporting, having an inadequate business continuity and disaster recovery plan and violating a prior CFTC order. »

Former Goldman Sachs trader settles SEC fraud charges

Former Goldman Sachs trader settles SEC fraud charges

Thu, 18/08/2016 - 07:57

Edwin Chin, the former head trader in residential mortgage-backed securities (RMBS) at Goldman Sachs, is to be barred from the securities industry and pay USD400,000 to settle charges that he repeatedly misled customers and caused them to pay higher prices.   »

CFTC restricts registration of Steven A Cohen based on failure to supervise

CFTC restricts registration of Steven A Cohen based on failure to supervise

Wed, 17/08/2016 - 08:30

The US Commodity Futures Trading Commission (CFTC) has filed a notice of intent to revoke, suspend, or place restrictions on the registration of Steven A Cohen of Greenwich, Connecticut.  »

US hedge fund manager charged with fraud

US hedge fund manager charged with fraud

Mon, 15/08/2016 - 07:27

US Federal prosecutors have charged San Francisco hedge fund manager Nicholas Mitsakos with fraud, alleging that he schemed to raise money for his fund by falsely representing past performance and overstating the value of assets under management. »

CFTC proposes to amend timing for filing chief compliance officer annual reports

CFTC proposes to amend timing for filing chief compliance officer annual reports

Wed, 10/08/2016 - 07:37

The US Commodity Futures Trading Commission (CFTC) is to publish proposed amendments to CFTC regulation 3.3 which would provide futures commission merchants, swap dealers, and major swap participants additional time to file chief compliance officer annual report. »

FIX Trading Community releases recommended guidelines for use of FIX in multi-asset classes for post-trade

FIX Trading Community releases recommended guidelines for use of FIX in multi-asset classes for post-trade

Mon, 08/08/2016 - 10:04

FIX Trading Community, the industry-driven standards body for global financial trading, has released new guidelines for the use of FIX in post-trade processing for multi-asset classes and a common post-trade framework. »

Man with loud hailer

CFTC announces two cross-border related actions

Fri, 05/08/2016 - 09:14

The US Commodity Futures Trading Commission (CFTC) has announced two separate actions on how the rules related to the Dodd-Frank Wall Street Reform and Consumer Protection Act apply to cross-border transactions.  »

MFA supports CFTC’s proposed expansion of interest rate swap clearing

MFA supports CFTC’s proposed expansion of interest rate swap clearing

Tue, 19/07/2016 - 10:00

The Managed Funds Association (MFA) has submitted a comment letter in support of the Commodity Futures Trading Commission’s (CFTC) proposed rules on the mandatory clearing of certain additional interest rate swap classes. »

Agrocorp International to pay USD150,000 for call cotton reporting violations

Agrocorp International to pay USD150,000 for call cotton reporting violations

Tue, 12/07/2016 - 12:50

The US Commodity Futures Trading Commission (CFTC) has issued an order filing and settling charges against Agrocorp International Pte Ltd, a commodities trading and distribution company headquartered in Singapore, for failing to file CFTC Form 304 Reports reporting its call cotton purchases and sales when it held or controlled at least 100 cotton futures positions. »

Barclays Bank fined USD560,000 for submitting inaccurate LTRs for physical commodity swaps

Barclays Bank fined USD560,000 for submitting inaccurate LTRs for physical commodity swaps

Thu, 07/07/2016 - 12:31

Barclays Bank is to pay a USD560,000 penalty to settle Commodity Futures Trading Commission (CFTC) charges that it failed to submit accurate large trader reports (LTRs) for physical commodity swap positions.  »

AITEC and AIMA launch cyber security DDQ

AITEC and AIMA launch cyber security DDQ

Fri, 01/07/2016 - 13:00

AITEC and the Alternative Investment Management Association (AIMA), the global representative for alternative asset managers, have launched a co-branded Illustrative Questionnaire for Due Diligence of Vendor Cyber Security. »

Seventh pro rata interim distribution of recovered funds to Madoff customers

Seventh pro rata interim distribution of recovered funds to Madoff customers

Fri, 01/07/2016 - 09:47

Irving H Picard, Securities Investor Protection Act (SIPA) trustee for the liquidation of Bernard L Madoff Investment Securities (BLMIS), says the seventh pro rata interim distribution from the Customer Fund to eligible BLMIS customers commenced on 30 June 2016. »

CFTC charges Haena Park and her companies with misappropriation and fraud

CFTC charges Haena Park and her companies with misappropriation and fraud

Mon, 06/06/2016 - 09:08

The US CFTC has charged Haena Park (Park) and her companies Phaetra Capital GP, a/k/a/ Argenta Capital GP LLC, Phaetra Capital Management LP, a/k/a Argenta Capital LLC, and Argenta Group LLC, with fraudulently operating a commodity pool and misappropriation of pool participants’ assets.  »

Bitcoin exchange Bitfinex hit with USD75,000 CFTC penalty

Bitcoin exchange Bitfinex hit with USD75,000 CFTC penalty

Fri, 03/06/2016 - 09:23

The US CFTC has ordered Hong Kong-based bitcoin exchange, BFXNA Inc (Bitfinex) to pay a USD75,000 civil penalty for offering illegal off-exchange financed retail commodity transactions in bitcoin and other cryptocurrencies. »

Timothy Massad

CFTC takes ‘significant step’ towards finalising rules on position limits

Fri, 27/05/2016 - 10:34

CFTC Chairman Timothy Massad (pictured) comments on the supplemental proposal on position limits for derivatives… »

Cunningham Commodities and Salvatore Carmen Russo pay USD150,000 to settle CFTC charges

Cunningham Commodities and Salvatore Carmen Russo pay USD150,000 to settle CFTC charges

Tue, 10/05/2016 - 09:12

The US Commodity Futures Trading Commission (CFTC) has issued an Order filing and simultaneously settling charges against Cunningham Commodities, LLC (Cunningham), a registered Futures Commission Merchant (FCM) based in Chicago, Illinois.  »

Nathan Schleifer and Galileo Trading to pay more than USD1.6m to settle CFTC commodity futures fraud charges

Nathan Schleifer and Galileo Trading to pay more than USD1.6m to settle CFTC commodity futures fraud charges

Wed, 13/04/2016 - 09:04

Nathan Schleifer and his company, Galileo Trading, LLC (Galileo) are to pay more than USD1.6 million to settle US Commodity Futures Trading Commission (CFTC) charges that they fraudulently solicited customers to trade commodity futures. »

JPMorgan Ventures Energy Corp and JPMorgan Chase Bank to pay a USD225,000 to settle CFTC physical commodity swap positions charges

JPMorgan Ventures Energy Corp and JPMorgan Chase Bank to pay a USD225,000 to settle CFTC physical commodity swap positions charges

Wed, 23/03/2016 - 16:41

The US Commodity Futures Trading Commission (CFTC) has issued an Order filing and simultaneously settling charges against JPMorgan Ventures Energy Corp. (JPMVE) and JPMorgan Chase Bank for failing to comply with their obligations to submit accurate large trader reports (LTRs) for physical commodity swap positions, in violation of Section 4s(f) of the Commodity Exchange Act (CEA) and CFTC Regulations 20.4 and 20.7.  »

Credit Suisse to pay USD665,000 penalty to settle CFTC charges

Credit Suisse to pay USD665,000 penalty to settle CFTC charges

Wed, 23/03/2016 - 09:46

Credit Suisse is to pay penalties totalling USD650,000 to settle charges that London-based Credit Suisse International exceeded the CFTC all-months speculative position limit for the Chicago Board of Trade (CBOT) wheat futures contracts in April and June 2009, despite having been granted an increased hedge exemption by the CFTC. »

Equinox Fund Management to pay over USD5.65m to settle CFTC charges

Equinox Fund Management to pay over USD5.65m to settle CFTC charges

Thu, 17/03/2016 - 16:37

Commodity Pool Operator (CPO) Equinox Fund Management is to pay a USD250,000 penalty and disgorgement of USD5,404,004 to settle CFTC charges that it made misstatements and omissions in disclosure documents and reports for the Frontier Fund (TFF). »

CFTC charges two binary options firms with fraud

CFTC charges two binary options firms with fraud

Wed, 16/03/2016 - 09:19

The US Commodity Futures Trading Commission (CFTC) has charged two foreign web-based binary options firms, Vault Options, Ltd (Vault) and Global Trader 365 (GT 365), both Israeli web-based companies with fraud. »

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