The US CFTC has issued an Order filing and settling charges against David Liew for engaging in numerous acts of spoofing, attempted manipulation, and, at times, manipulation of the gold and silver futures markets. Liew engaged in this unlawful conduct
US Commodity Futures Trading Commission (CFTC) general counsel Jonathan L Marcus is to leave the agency. Marcus joined the CFTC in 2011 as deputy general counsel for litigation, and was promoted to general counsel in 2013. Robert A Schwartz,
Chicago trader Igor B Oystacher and his trading company 3Red Trading are to pay USD2.5 million to settle CFTC charges over spoofing and using a “manipulative and deceptive device” while trading futures contracts on multiple exchanges. The US District Court
The US CFTC has issued time-limited no-action relief to entities submitting swaps for clearing by derivatives clearing organisations (DCOs) operating under CFTC exemptive orders or no-action relief that CFTC staff provided (relief DCOs). The action relieves entities submitting such swaps
Irving H Picard, Securities Investor Protection Act (SIPA) trustee for the liquidation of Bernard L Madoff Investment Securities (BLMIS), has filed a court motion seeking approval for an allocation of recoveries to the BLMIS Customer Fund. He is also seeking
Vanguard and Charles Schwab are set to exert greater influence as prime money fund investors after significant market share gains following the introduction of money market fund reforms, says Fitch Ratings. The two fund managers are likely to have greater
Sadis & Goldberg LLP is one of New York's leading financial services focused law firms. Known both domestically and internationally as a dominant force in the financial services sector, Sadis & Goldberg serves clients throughout the world and was recently
The Securities and Exchange Commission (SEC) has charged hedge fund manager Leon G Cooperman and his firm Omega Advisors with insider trading based on material non-public information he learned in confidence from a corporate executive. The SEC alleges that Cooperman
The regulatory challenges and cost pressures facing buy-side firms are putting further demands on the sell-side to prove their relationship value, according to a study by TABB Group. According to conversations with 100 US head traders for the final instalment
Edwin Chin, the former head trader in residential mortgage-backed securities (RMBS) at Goldman Sachs, is to be barred from the securities industry and pay USD400,000 to settle charges that he repeatedly misled customers and caused them to pay higher prices.
