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Frozen assets

CFTC freezes assets of Nikolai S Battoo and four companies

Mon, 10/09/2012 - 14:02

The US Commodity Futures Trading Commission has filed an emergency court action to freeze assets under the control of Nikolai S Battoo, BC Capital Group, BC Capital Group International, BC Capital Management and BC Capital Group Holdings. »

Fraud

NY-based investment advisory firm and founder settle charges for defrauding CDOs

Mon, 10/09/2012 - 11:54

New York-based investment advisory firm ICP Asset Management and its founder and president Thomas C. Priore have agreed to settle the Securities and Exchange Commission’s charges that they defrauded several collateralised debt obligations (CDOs) they managed. »

Law books and gavel

Blue Sky Capital Management to pay USD140,000 over false statements to NFA

Mon, 10/09/2012 - 06:42

The US Commodity Futures Trading Commission has obtained a federal court order requiring Blue Sky Capital Management and its principal, Gregory M Schneider, jointly and severally to pay a USD140,000 civil monetary penalty for making false statements to representatives of the National Futures Association (NFA). »

Fraud

SEC charges attorney and two South Florida residents over USD27.5m investment fraud

Thu, 06/09/2012 - 12:07

The Securities and Exchange Commission has charged an attorney and two others living in South Florida for their roles in a USD27.5m investment scheme that led investors to believe they were purchasing securities consisting of “pre-sold” commodities contracts with a pre-determined profit. »

Law books and gavel

SEC charges California man for illegal tips to hedge fund manager

Thu, 06/09/2012 - 06:20

The Securities and Exchange Commission has charged a California man with illegally tipping a hedge fund manager with inside information about Nvidia Corporation’s quarterly earnings that he learned from his friend who worked at the company. »

Currency cogs

Christopher B Cornett to pay over USD17m in foreign currency fraud action

Mon, 03/09/2012 - 12:03

The US Commodity Futures Trading Commission has obtained a federal court order of default judgment and permanent injunction requiring defendant Christopher B Cornett of Buda, Texas, to pay USD10.16m in restitution and a USD6.78m civil monetary penalty in connection with a foreign currency pooled investment fraud. »

Handcuffs and money

Charles Goodie and CSG to pay nearly USD1.2m for commodity pool fraud

Mon, 03/09/2012 - 10:16

The US Commodity Futures Trading Commission has obtained a consent order imposing a USD700,000 civil monetary penalty against defendants Charles Steven Goodie of San Diego, California, and his California-based business CSG Commodity Service Group. »

Fraud

CFTC charges Jeffrey Gustaveson with fraud over commodity pool scheme

Fri, 31/08/2012 - 16:06

The US Commodity Futures Trading Commission has charged Jeffrey Gustaveson of Carlsbad, California with fraud, misappropriation, and issuing false statements in a USD2.5m commodity pool scheme. »

Law books and gavel

CFTC charges Marc Perlman and iGlobal with commodity pool Ponzi scheme

Fri, 31/08/2012 - 10:18

The US Commodity Futures Trading Commission has filed a civil enforcement action charging Marc Perlman and his firm, iGlobal Strategic Management, with operating a commodity pool Ponzi scheme that fraudulently solicited and accepted at least USD670,000 from at least 17 people, largely from the deaf community. »

Fraud

CFTC charges Jonathan Hansen and J Hansen Investments with commodity pool fraud

Fri, 31/08/2012 - 06:05

The US Commodity Futures Trading Commission has filed a civil anti-fraud enforcement action against Jonathan Hansen of Pearland, Texas, and his company, J Hansen Investments (JHI). »

Vote

SEC moves toward final approval of Jobs Act

Thu, 30/08/2012 - 14:14

Commissioners at the Securities and Exchange Commission have voted four to one to begin the 30 day public comment process on the Jobs Act. »

Mary Schapiro, SEC chairman

SEC proposes rules on general solicitation and advertising in securities offerings

Thu, 30/08/2012 - 12:44

The Securities and Exchange Commission has proposed rules to eliminate the prohibition against general solicitation and general advertising in certain securities offerings. »

Signing a form

HedgeServ provides Form PF compliance solution to fund managers

Thu, 30/08/2012 - 10:14

HedgeServ, an independent global fund administrator, has added a Form PF (Private Fund) enterprise reporting solution to its service offering. »

Tick

CFTC certifies Euro Stoxx 50 Ex Financials Index Futures Contract

Thu, 30/08/2012 - 06:03

The Commodity Futures Trading Commission’s division of market oversight has issued a letter advising Eurex Deutschland that its Euro Stoxx 50 Ex Financials Index futures contract submitted by Eurex for review on 12 July has been deemed certified. »

Confidential file

SEI completes first Form PF filing for hedge fund client

Wed, 29/08/2012 - 14:09

SEI has completed its first Form PF filing on behalf of a global, multi-billion-dollar hedge fund client. »

Gavel and scales

SEC charges former Sky Bell hedge fund manager with making misrepresentations

Tue, 28/08/2012 - 16:06

The Securities and Exchange Commission has filed a settled civil action in the US District Court for the Northern District of California against Gary R Marks. »

Approved stamp

CFTC issues final swap rules

Tue, 28/08/2012 - 10:02

The Commodity Futures Trading Commission has approved final rules to improve the risk management procedures of swap dealers and major swap participants.  »

William Hodash, DTCC managing director, business development

DTCC and Swift launch CFTC Interim Compliant Identifier (CICI) utility

Wed, 22/08/2012 - 06:23

The Depository Trust & Clearing Corporation and Swift have launched a web portal at www.ciciutility.org to begin assigning CFTC Interim Compliant Identifiers (CICIs) after being designated by the US Commodity Futures Trading Commission to do so. »

Electricity pylon

CFTC issues proposed order to exempt certain non-financial energy derivative transactions

Mon, 20/08/2012 - 12:04

The Commodity Futures Trading Commission has approved a proposed order that would exempt certain non-financial energy derivative transactions between and amongst government-owned electric utilities and cooperatively-owned electric utilities from most of the requirements of the Commodity Exchange Act. »

Connected hands

Clearing connectivity standard launched for central counterparty clearing

Wed, 15/08/2012 - 10:21

Sapient Global Markets has completed a new industry standard for cleared OTC derivatives related activity reporting for asset managers, futures commission merchants (FCMs) and custodians. »

Gavel and scales

CFTC settles action over forex scheme against Douglas Elsworth Wilson

Wed, 15/08/2012 - 06:15

A federal court in California has entered a consent order that requires defendants Douglas Elsworth Wilson of Poway, California, and three companies he controls and manages, Elsworth Berg Capital Management (EBCM), Elsworth Berg Inc, and Elsworth Berg FX jointly and severally to pay USD3,965,670.71 in restitution to customers as well as a USD1.5m civil monetary penalty. »

Fraud

CFTC charges Michael Bruce Gale with commodity pool fraud

Tue, 14/08/2012 - 14:08

The US Commodity Futures Trading Commission has filed a civil anti-fraud enforcement action against Michael Bruce Gale, individually and doing business as Capital Management Group (CMG). »

Ponzi scheme

Hoopes to pay over USD11.8m for operating Ponzi scheme

Wed, 01/08/2012 - 06:15

The US Commodity Futures Trading Commission has obtained a federal court order requiring defendant Michael Justin Hoopes of Rexburg, Idaho, to pay more than USD10.4m in restitution and a civil monetary penalty of over USD1.4m for operating a Ponzi scheme that defrauded Idaho residents and others. »

Fraud

CFTC charges Victor Yu and VFRS with forex fraud

Tue, 31/07/2012 - 12:15

The Northern District of California has entered an emergency order freezing the assets of defendants Victor Yu of San Jose, California, and his company VFRS based in Alameda, California. »

Policy

CFTC proposes clearing determination for credit default and interest rate swaps

Thu, 26/07/2012 - 14:15

The Commodity Futures Trading Commission has proposed new rules to require certain credit default swaps and interest rate swaps to be cleared by registered derivatives clearing organisations (DCOs). »

Fraud

CFTC charges Philip Leon, Paul Rangel, John Wilkins and Altamont Global Partners with fraud

Thu, 26/07/2012 - 12:28

The US District Court for the Middle District of Florida has frozen the assets of defendants Philip Leon of Altamonte Springs, Florida, Paul Rangel of Apopka, Florida, John Wilkins of Chuluota, Florida, and their company, Altamont Global Partners of Longwood, Florida. »

Barred sign

CFTC seeks to revoke registrations of Brian Kim and Liquid Capital Management

Wed, 25/07/2012 - 15:54

The US Commodity Futures Trading Commission has filed a notice of intent to revoke the registrations of Brian Kim and Liquid Capital Management (LCM). »

Approved stamp

ICE Trade Vault granted provisional approval as a swap data repository

Fri, 29/06/2012 - 13:00

The US Commodity Futures Trading Commission (CFTC or Commission) has approved the application of ICE Trade Vault, LLC for provisional registration as a swap data repository. »

Philip A Falcone, Harbinger Capital Partners LLC

SEC charges Philip A Falcone and Harbinger with securities fraud

Thu, 28/06/2012 - 14:34

The Securities and Exchange Commission has filed fraud charges against New York-based hedge fund adviser Philip A Falcone (pictured) and his advisory firm, Harbinger Capital Partners LLC for illicit conduct that included misappropriation of client assets, market manipulation, and betraying clients. »

Judgement hammer

CFTC orders Barclays to pay USD200m penalty for attempted manipulation of LIBOR and Euribor Benchmark Interest Rates

Thu, 28/06/2012 - 14:00

The US Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against Barclays PLC, Barclays Bank PLC (Barclays Bank) and Barclays Capital Inc. (Barclays Capital) (collectively Barclays or the Bank).  »

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