Legal & Regulation

Former hedge fund portfolio manager to pay more than USD700,000 in CFTC monetary sanctions for fraudulently mis-marking swaps

Fri, 19/07/2019 - 10:35

The Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against Swapnil Rege, a former portfolio manager for a Connecticut-based hedge fund registered as a commodity pool operator (CPO), for fraudulently mis-marking swap valuations to artificially inflate the profits of his employer’s trading book in order to obtain an increased performance bonus. »

New CFTC chairman makes key office appointments

Thu, 18/07/2019 - 10:35

New US Commodity Futures Trading Commission Chairman Heath P Tarbert has made appointments to key positions in his Office. »

What's next for the SEC? The fund of funds rule

Wed, 10/07/2019 - 09:00

By Northern Trust – With Regulation Best Interest in the rearview mirror, the SEC is poised to finalise rules governing fund of fund arrangements. Following the adoption of the long-delayed final Regulation Best Interest in June, what’s next for the US Securities and Exchange Commission (SEC)? »

Firms’ non-financial misconduct under FCA spotlight thanks to SM&CR

Mon, 08/07/2019 - 12:46

By Martin Lovick (pictured), Senior Principal Consultant, ACA Compliance Group – Sexual harassment and other forms of “non-financial misconduct” are now on equal footing with types of financial misconduct, such as market abuse, for the UK Financial Conduct Authority (FCA). Firms and employees are at risk of regulatory sanctions – including, for individuals, the possibility of not being found to be “fit and proper” – for failure to fulfil the FCA’s evolving diversity and inclusion (D&I) expectations. »

CFTC charges hedge fund with violating wheat futures speculative position limits

Wed, 03/07/2019 - 10:38

The Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against Elephas Investment Management Ltd (Elephas), a Hong Kong based hedge fund, for violating wheat futures speculative position limits. The Order requires Elephas to pay a USD160,000 civil monetary penalty. »

CFTC makes USD2m award to joint whistleblowers

Tue, 02/07/2019 - 10:41

The Commodity Futures Trading Commission (CFTC) has made an award of approximately USD2 million to two model whistleblowers who provided the agency with significant information that prompted the CFTC to open an investigation. »

CFTC orders commodity trading firm to pay penalty for wash sales

Mon, 01/07/2019 - 10:25

The Commodity Futures Trading Commission (CFTC) has issued an Order filing and simultaneously settling charges against Respondent, Eagle Market Makers, Inc. (Eagle), an Illinois firm, for engaging in wash sales and noncompetitive transactions which were traded on the Chicago Board of Trade (CBOT) and the Chicago Mercantile Exchange (collectively, CME). »

Commodity pool and president to pay USD1.2m over CFTC fraud charges

Fri, 28/06/2019 - 10:07

Commodity pool The Kane Capital Investment Group and its President, Amrit Jaswant Singh Chahal have been ordered by a Viriginia federal court to pay USD1.2 million in a case stemming from a CFTC Complaint charging the defendants with commodity futures fraud, commodity pool fraud, registration violations, and illegally commingling funds. »

CFTC makes USD2.5m whistleblower award

Tue, 25/06/2019 - 10:06

The Commodity Futures Trading Commission (CFTC) has made an award of approximately USD2.5 million to an individual whistleblower. »

SEC adopts capital, margin, and segregation requirements for security-based swap dealers

Mon, 24/06/2019 - 10:41

The Securities and Exchange Commission has taken another significant step toward establishing the regulatory regime for security-based swap dealers today by adopting a package of rules and rule amendments under Title VII of the Dodd-Frank Act. »