Legal & Regulation

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SEC charges broker-dealer and CEO with supervision failures related to hedge fund valuation scheme

SEC charges broker-dealer and CEO with supervision failures related to hedge fund valuation scheme

The Securities and Exchange Commission has charged New York-based broker-dealer AOC Securities, and its former chief executive officer, Ronaldo Gonzalez, with failing to supervise an AOC broker who provided inflated price quotes for certain securities to a significant customer of AOC.

Regulation

Postponement of initial margin big bang

Postponement of initial margin big bang

By Blake Estes, counsel in Alston & Bird’s Financial Services & Products Group – Following the financial crisis, the Basel Committee on Banking Supervision and the International Organisation of Securities Commissions (IOSCO), as directed by the G-20 countries, developed consistent global standards for margin requirements for uncleared derivatives to reduce systemic risk in the derivatives markets.

Story

Principal of binary options trading to pay USD200,000 for illegal off-exchange trading and registration violations

Principal of binary options trading to pay USD200,000 for illegal off-exchange trading and registration violations

The US Commodity Futures Trading Commission has issued an order filing and settling charges against Curtis Dalton of Middleton, Massachusetts, requiring him to pay USD200,000 for offering illegal off-exchange retail commodity transactions to US and overseas customers while failing to be registered by the CFTC as required.