US Legal & Regulation

Globe and clock

CFTC addresses timeline for compliance with swap data reporting rules

The Commodity Futures Trading Commission’s division of swap dealer and intermediary oversight and division of market oversight have issued a letter providing swap dealers with time-limited no-action relief from certain requirements of the CFTC’s swap data reporting rules. »


Law books and gavel

SEC charges JP Morgan Securities with misleading investors in RMBS offerings

The Securities and Exchange Commission has charged JP Morgan Securities and affiliated entities with misleading investors in offerings of residential mortgage-backed securities (RMBS). »


Magnifying glass

FINRA increases transparency in TBA market for agency pass-through mortgage-backed securities

The Financial Industry Regulatory Authority (FINRA) has increased transparency in the so-called “To-Be-Announced” (TBA) market for agency pass-through mortgage-backed securities. »


Computer screen

Linedata Mshare offers head start with FATCA and SWIFT MX compliance

Linedata, a solutions provider dedicated to the investment management and credit industries, has launched a new version of Linedata Mshare investor accounting and administration solution. »


Ponzi scheme

SEC charges South Florida man with recruiting victims of Ponzi scheme

The Securities and Exchange Commission (SEC) has charged a South Florida man with defrauding at least 14 investors by soliciting them to invest in a Ponzi scheme. »


Magnifying glass

SEC charges hedge fund manager with hiding losses from RMBS investments

The Securities and Exchange Commission has charged a hedge fund manager in Baton Rouge with defrauding investors by hiding millions of dollars in losses suffered during the financial crisis from investments tied to residential mortgage-backed securities (RMBS). »


Currency cogs

Brad Demuzio and company to pay over USD3m for commodity pool forex fraud

Brad L Demuzio and his company Demuzio Capital Management (DCM), both of Chubbuck, Idaho, are to pay over USD3m for operating a fraudulent USD1.8m commodity pool and foreign currency Ponzi scheme. »


Law books and gavel

CFTC obtains order against Nicholas Cosmo over unauthorised futures trading

The US Commodity Futures Trading Commission has obtained a default judgment and permanent injunction order against defendant Nicholas Cosmo, formerly of Lake Grove, New York, charged with defrauding investors of tens of millions of dollars in a commodity futures trading scheme. »


Gavel and scales

SEC charges Silicon Valley exec over Galleon insider trading scheme

The Securities and Exchange Commission has charged a former senior executive at a Silicon Valley technology company for illegally tipping convicted hedge fund manager Raj Rajaratnam with non-public information that allowed the Galleon hedge funds to make nearly USD1m in illicit profits. »


Tax

Dion launches end-to-end FATCA product suite

Dion Global Solutions has launched its Foreign Account Tax Compliance Act (FATCA) solutions. »


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