The US Commodity Futures Trading Commission has charged Tate Street Trading of Richmond, Virginia and Leonard J Cipolla of Chesterfield, Virginia, with misappropriating customer funds and fraudulent solicitation in connection with a commodity pool.
Legal & Regulation
By Joe McGrath – While litigation funders have been celebrating growth and success in Western markets, they are also keen to seize opportunities further afield with Asian jurisdictions increasingly finding favour…
Managers of Cayman funds are being encouraged to act now to ensure they fully comply with the new obligations of the Cayman Islands Data Protection Law, 2017 scheduled to come into effect on 30 September 2019.
The US Commodity Futures Trading Commission has issued two orders filing and settling charges against Tullett Prebon Americas Inc, an interdealer broker and CFTC-registered introducing broker headquartered in New Jersey, requiring the company to pay a total of USD13 million for failing to supervise employees and making false or misleading statements to CFTC staff.
ACA Compliance Group (ACA) and Eagle Investment Systems (Eagle), a BNY Mellon company and part of Data and Analytics Solutions, have partnered to help firms comply with the new 2020 Global Investment Performance Standards (GIPS).
Guernsey is proposing to adopt limited liability companies (LLC) in a move intended to enhance the island’s competitive position in the United States.
SEC and CFTC charge Options Clearing Corp with failing to establish and maintain adequate risk management policies
The Options Clearing Corporation (OCC) is to undertake remedial efforts and pay USD20 million in penalties to settle SEC and CFTC charges that it failed to implement policies to manage certain risks as required by US laws and SEC and CFTC rules.
UK fund providers will have until 15 September 2019 to submit a ‘Brexit licence’ to the Luxembourg regulator to continue trading in the Grand Duchy.
With the FCA’s Policy Statement PS18/8 due to come into effect from 30 September 2019, Authorised Fund Managers (AFMs) will need to publish Assessment of Value reports from the end of January 2020 (within four months of their funds’ year-end).
A global RegTech company has seen enquiries for its software triple as financial services firms prepare for a Post-Brexit landscape.