Legal & Regulation

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

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

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. 

Regulation

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

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

Connect with ACA Compliance Group

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.

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CFTC orders commodity trading firm to pay penalty for wash sales

CFTC orders commodity trading firm to pay penalty for wash sales

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).