US Legal & Regulation

CFTC provides registration no-action relief for certain swaps intermediaries

Mon, 15/10/2012 - 10:35

The Commodity Futures Trading Commission’s division of swap dealer and intermediary oversight (DSIO) has issued a no-action letter to provide relief from registration for various swaps intermediaries until 31 December 2012. »

SEC charges Chicago-based investment adviser and owners with fraud

Mon, 08/10/2012 - 14:09

The Securities and Exchange Commission has charged Chicago-based GEI Financial Services and its owners, Norman Goldstein and Laurie Gatherum, for defrauding their advisory clients — including the GEI Health Care Fund 2001 — by taking at least USD147,000 in excessive fees and capital withdrawals from the fund since 2009. »

CFTC files record number of enforcement cases in 2012

Mon, 08/10/2012 - 12:14

The Commodity Futures Trading Commission filed 102 enforcement cases in fiscal year 2012, the highest number of cases ever in a single year. »

CFTC provides guidance on combined omnibus accounts

Fri, 05/10/2012 - 16:09

The Commodity Futures Trading Commission’s division of swap dealer and intermediary oversight has released a letter providing guidance to registered futures commission merchants (FCMs). »

SEC charges hedge fund managers with defrauding investors

Fri, 05/10/2012 - 12:11

The Securities and Exchange Commission has separately charged a pair of hedge fund managers and their firms with lying to investors about how they were handling the money invested in their respective hedge funds. »

Oscar Hernandez and companies to pay USD1.4m over commodity pool Ponzi scheme

Wed, 03/10/2012 - 11:57

Oscar Hernandez of Miami, Florida and his companies, Midway Trading Company and Conquest Investment Group, are to pay a USD1.4m civil monetary penalty to settle CFTC charges that they operated a multi-million dollar commodity pool Ponzi scheme and misappropriated customer funds for personal use. »

CFTC charges Boston resident John Wilson and his company with commodity pool fraud

Mon, 01/10/2012 - 14:17

The US Commodity Futures Trading Commission has filed a civil complaint in the federal district court in Boston, Massachusetts, against Boston-based John B Wilson and his company, JBW Capital. »

FSA bans Swiss fund manager and two former Cantor Fitzgerald traders for market abuse

Mon, 01/10/2012 - 10:06

The Upper Tribunal (Tax and Chancery Chamber) has directed the Financial Services Authority to fine Stefan Chaligné, a Swiss-based hedge fund manager, GBP900,000 plus disgorgement of the financial benefit he obtained of EUR362,950 and Patrick Sejean, a former senior salesman on Cantor Fitzgerald Europe’s (CFE) London-based French desk, GBP650,000. »

CFTC charges Eric Schmickle and Q Wealth Management over USD5.3m commodity futures fraud

Fri, 28/09/2012 - 16:13

The US Commodity Futures Trading Commission has filed a civil enforcement action against Wisconsin resident Eric N Schmickle and his company, Q Wealth Management. »