John B Oden and Oden Capital Management (OCM) are to pay USD100,000 to settle CFTC charges over the unlawfully operation two commodity interest pools, Oden Currency Fund (OCF), operated by Oden, and Oden Currency Fund I (OCF I), operated by
Forex Capital Markets (FXCM), its parent company FXCM Holdings and FXCM’s founding partners, Dror Niv and William Ahdout, are to pay a USD7 million penalty to settle CFTC charges that they defrauded retail forex customers. In addition, FXCM, Niv, and
The Royal Bank of Scotland (RBS) is to pay a USD85 million civil monetary penalty to settle CFTC charges that over a five-year period from January 2007 through March 2012, through the acts of multiple traders, RBS attempted to manipulate
The US Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) has issued a time-limited no-action letter for swap dealers doing business in the EU. The letter states that, from 4 February 2017 to 8 May
The Commodity Futures Trading Commission has approved an Amended Order of Registration for LedgerX to clear additional products, subject to the terms and conditions specified in the order, as a derivatives clearing organisation under the Commodity Exchange Act.Under the amended
Commissioner J Christopher Giancarlo has been named as acting chairman of the US Commodity Futures Trading Commission (CFTC). Giancarlo (pictured) joined the CFTC on 16 June 2014 after being unanimously confirmed by the US Senate on 3 June 2014, to
Citigroup is to pay USD25 million to settle CFTC charges against for spoofing – bidding or offering with the intent to cancel the bid or offer before execution — in US Treasury futures markets and failed to diligently supervise the
US Commodity Futures Trading Commission division of enforcement director Aitan Goelman will leave the agency on 3 February 2017. During Goelman’s tenure, the division brought a number of first-in-kind cases using the new enforcement authorities created by the Dodd-Frank Wall
E*TRADE Securities and E*TRADE Clearing are to jointly pay a USD280,000 civil monetary penalty to settle CFTC charges over non-compliance with applicable record-keeping rules and failure implement diligent supervision. Both entities have their headquarters in Chicago, Illinois. The CFTC
On 31 July, 2020, the Internal Revenue Service (IRS) released proposed regulations (the Proposed Regulations) relating to the scope and applicability of Internal Revenue Code Section 1061. This alert will provide an overview of the Proposed Regulations and how they may
