The US Commodity Futures Trading Commission has charged James Ossie and his company CRE Capital Corporation with operating a Ponzi scheme involving more than 100 people and approximatel
The US Commodity Futures Trading Commission (CFTC) filed a civil complaint charging CIS Commodities LLC (CIS) of Henderson, Nevada, and its founder and president, Allen Nicholas Ward, of Aspen, Colorado, with misappropriation of customer funds and misrepresentations and issuing false
The Securities and Exchange Commission has filed a Complaint in federal district court against RKC Capital Management LLC, RKC Capital, LLC (RKC) and Russell K Cannon (Cannon), (collectively “Defendants”). The Complaint alleges that the Defendants artificially inflated the assets of
The United States Court of Appeals for the Eleventh Circuit has affirmed the District Court’s grant of summary judgment against Michael Lauer, who controlled several hedge funds. The Eleventh Circuit held that the District Court “had before it overwhelming evidence
The US Securities and Exchange Commission (SEC) has settled its action against Oregon-based hedge fund manager Yusaf Jawed, who masterminded a USD30m Ponzi scheme. Final judgments have been entered against Jawed and his two entities, Grifphon Asset Management and
The US Commodity Futures Trading Commission (CFTC) has brought and settled charges against ICAP Europe Limited for manipulation and attempted manipulation of the London Interbank Offered Rate (LIBOR) for Yen. LIBOR is a critical benchmark interest rate used throughout the
The Commodity Futures Trading Commission’s division of clearing and Risk (DCR) has issued a time limited no-action letter for LCH.Clearnet and its clearing members. The letter states that DCR will not recommend that the Commission take enforcement action against
The US Commodity Futures Trading Commission (CFTC) has issued an order filing and simultaneously settling charges against Macquarie Futures USA, a New York-based registered futures commission merchant (FCM), for failing to maintain adequate funds in secured accounts. The CFTC
The Securities and Exchange Commission has charged JPMorgan Chase & Co with misstating financial results and lacking effective internal controls to detect and prevent its traders from fraudulently overvaluing investments to conceal hundreds of millions of dollars in trading losses.
Bedrock Valuation Advisors (BVA) has launched a price adjustment verification service in response to recent enforcement actions by US financial services regulators that have levied fines of up to USD200m against buy-side institutions. At the core of these enforcement
