The US Commodity Futures Trading Commission (CFTC) has obtained a federal court consent order requiring defendants Victor Eugene Cilli and his company, Progressive Investment Funds LLC (Progressive), both formerly of Hackensack, NJ, to pay, jointly and severally, restitution of USD243,000 and a USD474,000 civil
The Depository Trust & Clearing Corporation’s (DTCC) expansion of its Sponsored Service of its subsidiary Fixed Income Clearing Corporation (FICC) has been approved by the Securities and Exchange Commission (SEC). DTCC views this as the latest milestone in the transformation
The US Commodity Futures Trading Commission (CFTC) has charged Angel Fernando Collazo of Salinas, Puerto Rico, and his companies, ACJ Capital, Inc. (ACJ) and Solid View Capital LLC (Solid View), both of San Juan, with fraud and misappropriation in a USD1 million off-exchange leveraged foreign
United States District Judge Robert W Sweet of the Southern District of New York has issued an Opinion in favour of the US Securities and Exchange Commission finding that United Kingdom-based hedge fund adviser Pentagon Capital Management PLC (PCM) and Lewis Chester,
The Commodity Futures Trading Commission (CFTC) has announced a whistleblower award totalling more than USD2 million to be paid to an individual whistleblower. The CFTC granted the whistleblower’s award application for both a CFTC action and a related action brought
A prominent Miami investor and philanthropist has filed a lawsuit against the adviser and the administrator of one of the world’s largest hedge funds, claiming that they ‘recklessly’ bought a large position in a Chinese timber company that has been
The US Commodity Futures Trading Commission (CFTC) has filed and simultaneously settled charges against Jeffrey J Kinseth of Cedar Rapids, Iowa, and his Iowa-based company, Virtual Vision Inc, for fraudulently soliciting individuals to participate in a pooled investment vehicle, misappropriation of investor funds,
A federal grand jury sitting in Charlotte has returned an indictment against Jonathan D Davey, 47, of Newark, Ohio, Jeffrey M Toft, 49, of Oviedo, Florida, Chad A Sloat, 33, of Kansas City, Mo, and Michael J Murphy, 51, of
The Federal Energy Regulatory Commission (FERC) has ordered Barclays Bank PLC and four of its traders to pay USD453m in civil penalties for manipulating electric energy prices in California and other western markets between November 2006 and December 2008.
The Securities and Exchange Commission has obtained a USD13.9m penalty against former Goldman Sachs board member Rajat K. Gupta for illegally tipping corporate secrets to former hedge fund manager Raj Rajaratnam. Gupta is also permanently barred from serving as
