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WALSH FOR GOVERNOR - CANDIDATE INFORMATION AND PLATFORM
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Cindy Walsh vs Maryland Board of Elections
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DECISION/APPEAL TO SPECIAL COURT OF APPEALS---Baltimore City Circuit Court response to Cindy Walsh complaint
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Brief for Maryland Court of Special Appeals
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Brief for Maryland Court of Special Appeals
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Cindy Walsh goes to Federal Court for Maryland election violations
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- Complaints filed with the FCC, the IRS, and the FBI
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- US Attorney General, Maryland Attorney General, and Maryland Board of Elections are charged with enforcing election law
- Private media has a responsibility to allow access to all candidates in an election race. >
- Polling should not determine a candidate's viability especially if the polling is arbitrary
- Viability of a candidate
- Public media violates election law regarding do no damage to candidate's campaign
- 501c3 Organizations violate election law in doing no damage to a candidate in a race >
- Voter apathy increases when elections are not free and fair
- Maryland Board of Elections certifies election on July 10, 2014
- Maryland Elections ---2016
THIS IS THE AGENCY BEHIND MUCH OF THE FRAUD AND IS STAFFED BY MOST OF THE SAME PEOPLE. WE NEED TO BE WRITING, EMAILING, AND CALLING THESE PEOPLE WHO ARE WRITING THESE RULES. AS WITH ALL PUBLIC MEETINGS OF GOVERNMENT AGENCIES....NO ONE KNOWS THEY ARE HAPPENING. RESPOND TO THE ONE BELOW ABOUT WANTING THE VOLCKER RULE....WE WANT THE GLASS-STEAGALL WALL BACK, BUT THIS WOULD BE A START!
The U.S. Commodity Futures Trading Commission (CFTC)
is an independent agency of the United States government that regulates futures and option markets.
The Commodity Exchange Act (CEA), 7 U.S.C. § 1 et seq., prohibits fraudulent conduct in the trading of futures contracts. In 1974, Congress amended the Act to create a more comprehensive regulatory framework for the trading of futures contracts and created the Commodity Futures Trading Commission, replacing the Commodity Exchange Authority. The stated mission of the CFTC is to protect market users and the public from fraud, manipulation, and abusive practices related to the sale of commodity and financial futures and options, and to foster open, competitive, and financially sound futures and option markets.[3]
The Commission
The Commission consists of five Commissioners appointed by the President to serve staggered five-year terms. The President, with the consent of the United States Senate, designates one of the Commissioners to serve as Chairman. No more than three Commissioners at any one time may be from the same political party.
Commissioners The five commissioners are:
Dodd-Frank Act
- “The Wall Street reform bill will – for the first time – bring comprehensive regulation to the swaps marketplace. Swap dealers will be subject to robust oversight. Standardized derivatives will be required to trade on open platforms and be submitted for clearing to central counterparties. The Commission looks forward to implementing the Dodd-Frank bill to lower risk, promote transparency and protect the American public.”
- - CFTC Chairman Gary Gensler
- Rule-writing schedule Dodd-Frank Title VII Final Rules and Interpretive Orders the CFTC may consider in 2012
Released: January 11, 2012
Rule-writing process As a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the CFTC will write rules to regulate the swaps marketplace.
The CFTC has identified 32 areas where rules will be necessary. The public is encouraged to provide input on the rule-writing process. Information regarding each rule-writing area will be published as it becomes available.
The links below provide information on the 32 areas that the CFTC must address in its rule-writing, and also list the proposed rules and final rules issued by the Commission thus far.
See List of Rulemaking Areas
View all Proposed Rules, Orders, Guidance and Advance Notices of Proposed Rules
View all Dodd-Frank Final Rules, Orders and Guidance
View all Dodd-Frank Open Meetings and Public Roundtables
External Meetings The CFTC is committed to transparency in the rulemaking process. Information on all meetings that Chairman Gensler and Commission staff have with outside organizations regarding the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act will be made public. The topics of the meetings, attendees, summaries of the meetings and any materials presented to the CFTC are posted here.
See List of External Meetings
Reports and Studies The Dodd-Frank Wall Street Reform and Consumer Protection Act requires the CFTC to conduct a number of studies and reports on a wide variety of issues that affect the derivatives market. Information regarding these reports and studies will be published as it becomes available.
See List of Reports and Studies
Text of H.R. 4173: Dodd-Frank Wall Street Reform and Consumer Protection Act Download the PDF of the bill, or
Read the text on THOMAS
Swaps regulation The Dodd-Frank Wall Street Reform and Consumer Protection Act brings comprehensive reform to the regulation of swaps. These products, which have not previously been regulated in the United States, were at the center of the 2008 financial crisis.
- The historic Dodd-Frank bill authorizes the CFTC to:
Regulate Swap Dealers
- Swap dealers will be subject to capital and margin requirements to lower risk in the system.
- Dealers will be required to meet robust business conduct standards to lower risk and promote market integrity.
- Dealers will be required to meet recordkeeping and reporting requirements so that regulators can police the markets.
Increase Transparency and Improve Pricing in The Derivatives Marketplace
- Instead of trading out of sight of the public, standardized derivatives will be required to be traded on regulated exchanges or swap execution facilities.
- Transparent trading of swaps will increase competition and bring better pricing to the marketplace. This will lower costs for businesses and their consumers.
Lower Risk to the American Public
- Standardized derivatives will be moved into central clearinghouses to lower risk in the financial system.
- Clearinghouses act as middlemen between two parties to a transaction and take on the risk that one counterparty defaults on their obligations.
- Clearinghouses have lowered risk in the futures marketplace since the 1890s. The Dodd-Frank bill will bring this crucial market innovation to the swaps marketplace.
_________________________________________
TAKE A LOOK AT WHAT THEY ARE WORKING AND TAKE THE TIME TO COMMENT ON ANY ISSUE OF INTEREST TO YOU!!
Font Size: AAA // Print // Bookmark Public Comments VIEW UPCOMING & RECENT EVENTS
Upcoming Comment Deadline // All Comment Files by Year // Search All Comments Deadline Comment Description 12/31/2012 Proposed Rule 77 FR 60113 // PDF Version
Commodity Futures Trading Commission and Securities and Exchange Commission Acceptance of Public Submissions Regarding the Study of Stable Value Contracts
Open Date: 10/2/2012 Closing Date: 12/31/2012 See also:
76 FR 53162 , 8/25/2011 // PDF Version Commodity Futures Trading Commission and Securities and Exchange Commission Acceptance of Public Submissions Regarding the Study of Stable Value Contracts
12/31/2012 Orders and Other Announcements 77 FR 65675 // PDF Version
Commodity Futures Trading Commission, Office of Consumer Outreach
Open Date: 10/30/2012 Closing Date: 12/31/2012 1/7/2013 Public Information Collection 77 FR 66819 // PDF Version
Agency Information Collection Activities: Notice of Intent To Extend Collection 3038-0098: Exemptive Order Regarding Compliance With Certain Swap Regulations
Open Date: 11/7/2012 Closing Date: 1/7/2013 1/7/2013 Industry Filing IF 12-014
Request from the Chicago Mercantile Exchange Inc. to Adopt New Chapter 10 (“Regulatory Reporting of Swap Data”) and New Rule 1001 (“Regulatory Reporting of Swap Data”) of CME’s Rulebook
The Commodity Futures Trading Commission (Commission) is accepting public comment on an amended request from the Chicago Mercantile Exchange Inc. (CME) for approval of a rule (Rule 1001) submitted pursuant to section 40.5 of the Commission’s regulations.
Open Date: 12/10/2012 Closing Date: 1/7/2013 1/14/2013 Proposed Rule 77 FR 67866 // PDF Version
17 CFR Parts 1, 3, 22, 30, and 140 Enhancing Protections Afforded Customers and Customer Funds Held by Futures Commission Merchants and Derivatives Clearing Organizations
Open Date: 11/14/2012 Closing Date: 1/14/2013 1/22/2013 Public Information Collection 77 FR 69806 // PDF Version
Agency Information Collection Activities: Notice of Intent To Renew Collection, Procurement Contracts
Open Date: 11/21/2012 Closing Date: 1/22/2013 2/15/2013 Public Information Collection 77 FR 74647 // PDF Version
Agency Information Collection Activities: Proposed Collection, Comment Request: Form TO, Annual Notice Filing for Counterparties to Unreported Trade Options
Open Date: 12/17/2012 Closing Date: 2/15/2013- ___________________________________
- TAKE A LOOK AT THE ACTIONS THEY COMPLETED. WE KNOW THESE ARE SMALL FRIES IN A MASSIVE FRAUD STILL NEEDING ACTION.
- 12/19/2012 CFTC Settles Charges against Virginia Resident Alexander Giap for Engaging in Two Fraudulent Commodity Futures Trading Schemes
- Order: Alexander Giap
- CFTC Charges Alexander Giap of Annandale, Va., with Fraud by an Unregistered Commodity Trading Advisor
12/19/2012 CFTC Orders UBS to Pay $700 Million Penalty to Settle Charges of Manipulation, Attempted Manipulation and False Reporting of LIBOR and Other Benchmark Interest Rates
- Statement of Support by Commissioner Scott D. O’Malia for Bringing and Settling Charges against UBS AG and UBS Securities Japan, Co., Ltd.
- Statement of CFTC Chairman Gary Gensler on Settlement Order Against UBS
- "A Conscience Isn't Nonsense"
- Order: UBS AG, et al.
- Examples of Misconduct From Written Communications
12/13/2012 CFTC Charges Calif. Company Arista LLC and Calif. Residents Abdul Sultan Walji and Reniero Francisco with Fraud in Operating $9.5 Million Commodity Pool
12/10/2012 Federal Court in Texas Orders Houston-based Defendants Christopher Daley and his Company, TC Credit Service d/b/a Del-Mair Group, to Pay Over $2.6 Million for Fraud in a Commodity Pool Scheme
- Order: Del-Mair Group, LLC
- CFTC Charges Houston-based Christopher Daley and his company, TC Credit Service, LLC, with Solicitation Fraud and Misappropriation in $1.4 Million Dollar Commodity Pool Scheme
12/07/2012 CFTC Orders Goldman, Sachs & Co., a Commission Registrant, to Pay $1.5 Million for Supervision Failures
- Statement of Commissioner Bart Chilton Concurring in part and Dissenting in part to the Settlement In the Matter of Goldman, Sachs & Co.
- Order: Goldman, Sachs & Co.
12/06/2012 CFTC Charges Ray Thomas Brown with Fraud, Misappropriation, and Registration Violations in Operating Two Commodity Pool Scams
12/05/2012 CFTC Charges Hunter Wise Commodities, Lloyds Commodities, C.D. Hopkins Financial, United States Capital Trust, Newbridge Alliance, Blackstone Metals Group, and their Principals in Multi-Million Dollar Fraudulent Precious Metals Scheme
12/05/2012 Federal Court in Idaho Orders CFTC Defendant Trigon Group, Inc. to Return More than $20.6 million of Ill-Gotten Gains to Victims of its Fraud
12/05/2012 Federal Court in New York Orders Defendants Forex Capital Trading Group, Forex Capital Trading Partners, and Highland Stone Capital Management to Pay over $1.8 Million for Fraud in Off-Exchange Foreign Currency Scheme
12/04/2012 CFTC Settles Charges against Deepak Singhal and Meera Singhal for Engaging in Illegal Trading Scheme
- Order: Deepak Singhal and Meera Singhal
- CFTC Files Enforcement Action against Two Indian Citizens for Allegedly Engaging in an Illegal Trading Scheme
12/04/2012 CFTC Files Complaint in Federal Court against Eric Moncada, BES Capital LLC, and Serdika LLC Alleging Attempted Manipulation of Wheat Futures Contract Prices, Fictitious Sales, and Non-Competitive Transactions
12/03/2012 Federal Court Orders MBF Clearing Corp. to Pay $650,000 for Violating Customer Fund Segregation Requirements
11/29/2012 Federal Court in New York Orders Marc Perlman and iGlobal Strategic Management, LLC to Pay over $2 Million for Solicitation Fraud and Misappropriation Involving Off-Exchange Foreign Currency and a Commodity Pool Ponzi Scheme
11/27/2012 CFTC Orders Benjamin Hutchen, Formerly of Morgan Stanley & Co. LLC, to Pay a $300,000 Civil Monetary Penalty for Engaging in Unlawful Noncompetitive Futures Trades
11/27/2012 CFTC Charges Connecticut Resident Feisal Sharif with Operating a $5.4 Million Commodity Pool Ponzi Scheme and Misappropriating at least $900,000 of Pool Participants’ Funds
11/26/2012 CFTC Charges Ireland-based “Prediction Market” Proprietors Intrade and TEN with Violating the CFTC’s Off-Exchange Options Trading Ban and Filing False Forms with the CFTC
11/23/2012 CFTC Charges North Carolina Resident Michael Anthony Jenkins and his Company, Harbor Light Asset Management, LLC, with Solicitation Fraud, Misappropriation, and Embezzlement in Ponzi Scheme
11/21/2012 Cantor Fitzgerald Sanctioned $700,000 for Allowing Customer Funds to Become Under-Segregated
11/20/2012 CFTC Orders Eagle Market Makers Inc. to Pay over $223,000 in Penalties and Disgorgement to Settle Charges of Violating Corn Futures Speculative Position Limits and Failing to Supervise Traders
11/08/2012 CFTC Charges Matthew Marshall Taylor with Fraud for Fabricating and Concealing Trades from His Employer and Obstructing Their Discovery
11/01/2012 Federal Court in Idaho Orders Brad Lee Demuzio and Demuzio Capital Management, LLC, to Pay over $3 Million in Connection with CFTC Commodity Pool Forex Fraud Action
10/26/2012 CFTC Orders Illinois Resident Joshua T.J. Russo to Pay More than $1.8 Million in Restitution and Penalties for Futures and Options Fraud and Unauthorized Trading
10/25/2012 CFTC Obtains Federal Court Order against Nicholas Cosmo for Engaging in Unauthorized Futures Trading that Resulted in Tens of Millions of Dollars in Investor Losses
10/23/2012 Federal Court Orders Robert A. Christy and His Company, Crabapple Capital Group LLC, to Pay over $2.6 Million in Monetary Sanctions for Foreign Currency Fraud
10/23/2012 CFTC Orders San Gabriel, California Resident David Kaup and His Companies to Pay over $1.89 Million in Restitution and Penalties to Settle Forex Fraud and Misappropriation Charges
10/23/2012 CFTC Charges Floridian Christopher Smithers with Fraud in Connection with Commodity-Related Activities and Violations of a Federal Court’s Prior Orders
10/22/2012 CFTC Orders Morgan Stanley Smith Barney LLC to Pay $200,000 for Supervision Violations
10/18/2012 CFTC Charges David M. Nunn with Engaging in an Illegal Trading Scheme and Making False Statements to ICE Futures US
10/10/2012 CFTC Orders Farr Financial Inc. to Pay $280,000 to Settle Charges of Improper Investment of Customer Segregated Funds and Supervision Failures
10/05/2012 CFTC Releases Enforcement Division’s Annual Results
10/04/2012 Federal Court in Florida Imposes $350,000 Penalty against GlobeFX Club, Inc. and Jeremy Munson Globe for Making False Statements to the National Futures Association
10/01/2012 Federal Court Orders Oscar Hernandez and His Companies to Pay $1.4 Million in Penalties and Bars Him from the Commodities Industry for Operating a Commodity Pool Ponzi Scheme
09/28/2012 Federal Court Orders Martin B. Rosenthal to Pay $1.2 Million for Aiding and Abetting the Making of False Statements to the NFA, Failing to Register as a Commodity Trading Advisor, and Violating a Previous CFTC Order
09/28/2012 CFTC Charges Boston Resident John B. Wilson and His Company with Commodity Pool Fraud
09/27/2012 CFTC Charges iFinix Futures, Inc. and Its Senior Executive Officer, Connecticut Resident Benhope Marlon Munroe, with Making False Statements to the National Futures Association and Failing to Meet Minimum Financial Requirements
09/27/2012 CFTC Orders JP Morgan Chase Bank, N.A. to Pay $600,000 Civil Monetary Penalty for Violating Cotton Futures Speculative Position Limits
09/27/2012 Florida Federal Court Orders Claudio Aliaga and His Company, CMA Capital Management, LLC, to Pay $5.5 Million in Penalties and Restitution for Operating a Forex Ponzi Scheme
09/27/2012 CFTC Orders Australia and New Zealand Banking Group Ltd. to Pay $350,000 Penalty for Violating Wheat and Cotton Futures Speculative Position Limits
09/25/2012 CFTC Orders China-based Weidong Ge and Sheenson Investments, Ltd. to Pay $1.5 Million in Monetary Sanctions for Violating Speculative Position Limits in Cotton And Soybean Futures
09/25/2012 CFTC Seeks to Revoke Registrations of Nevada Resident Gordon A. Driver and his Company, Axcess Fund Management LLC
09/25/2012 CFTC Charges Wisconsin Resident Eric N. Schmickle and His Company, Q Wealth Management Inc., with Operating a $5.3 Million Commodity Futures Fraud
09/25/2012 CFTC Seeks to Revoke Registrations of Victor E. Cilli and his Company Progressive Investment Funds, LLC
09/21/2012 CFTC Sanctions York Business Associates LLC d/b/a TransAct Futures, a Registered Futures Commission Merchant, $199,000 for Supervision Failures in Handling a Customer Account
09/21/2012 CFTC Orders Infinity Futures LLC, an Introducing Broker, to Pay $340,000 for Supervision Violations
09/21/2012 CFTC Orders Citigroup Inc. and Citigroup Global Markets Ltd. to Pay $525,000 Penalty for Violating Wheat Futures Speculative Position Limits
09/21/2012 CFTC Obtains Default Judgment and Permanent Injunction Order against ProfitStars Intl, Corp. and Ulysis Starling for Engaging in a Business that Operated as a Deceit and Violating a Regulatory Disclosure Requirement
09/21/2012 CFTC Seeks to Revoke the Commodity Trading Advisor Registration of Pro Trading Course, LLC
09/19/2012 CFTC Charges Grahame Rhodes of Missouri with Fraud, Misappropriation, and Commingling Funds in Multi-Million Dollar Commodity Pool Ponzi Scheme
09/19/2012 CFTC Charges Australian Resident Senen Pousa, U.S. Resident Joel Friant, and Their Company, Investment Intelligence Corp., with Operating a Fraudulent $53 Million Worldwide Off-Exchange Forex Scheme; Michael Dillard and Elevation Group Also Charged
09/13/2012 CFTC Charges Florida Resident William Jeffery Chandler with Forex Fraud and Misappropriation
09/11/2012 CFTC Seeks to Revoke Registrations of Linda Faye Harris and her companies, CDH Forex Investments, LLC and CDH Global Holdings, LLC
09/10/2012 CFTC Charges Lincolnshire Trading Partners, LLC. and Scott Geisinger with Registration Violations
09/07/2012 CFTC Charges Nikolai S. Battoo and Four Companies He Controls with Fraud In Connection With Commodity Pools that Accepted Over $140 Million from U.S. Investors
09/06/2012 Federal Court in Tennessee Orders Blue Sky Capital Management Corp. and its Principal, Gregory M. Schneider, to Pay $140,000 for Making False Statements to the National Futures Association
08/31/2012 Federal Court in California Orders Charles Steven Goodie and His Business, CSG Commodity Service Group, to Pay Nearly $1.2 Million to Settle CFTC Commodity Pool Fraud Action
08/31/2012 Federal Court in Texas Orders Christopher B. Cornett to Pay over $17 Million in Sanctions in Foreign Currency Fraud Action
08/30/2012 CFTC Charges Californian Jeffrey Gustaveson with Fraud, Misappropriation, and Issuing False Statements in Commodity Pool Scheme
08/29/2012 CFTC Charges Texas Resident Jonathan Hansen and His Company, J. Hansen Investments, LLC, with Commodity Pool Fraud, Misappropriation, and Commingling of Funds
08/29/2012 CFTC Charges California Resident Marc Perlman and his company, iGlobal Strategic Management, LLC, with Solicitation Fraud and Misappropriation in Commodity Pool Ponzi Scheme
08/27/2012 CFTC Orders Foreign Traders SMP Bank and Epaster Investments, Ltd. to Pay $980,000 for Engaging in a Wash Sale Scheme in the CME’s Japanese Yen Options Contract
08/24/2012 CFTC Seeks to Revoke Registration of Growth Capital Management LLC Based on CFTC Anti-Fraud Action
08/23/2012 CFTC Charges Illinois Resident Donald A. Newell and his Company, Quiddity, LLC, with Running a Fraudulent Allocation Scheme, Making Material False Statements to the CFTC, and Recordkeeping Violations
08/13/2012 CFTC Settles Action against Douglas Elsworth Wilson and Three California Companies for Solicitation Fraud, Misappropriating Customer Funds, and Issuing False Statements in Commodity Futures and Forex Scheme
08/13/2012 CFTC Charges Colorado Resident Michael Bruce Gale with Commodity Pool Fraud
- Order: Michael Gale d/b/a Capital Management Group
- Complaint: Michael Gale d/b/a Capital Management Group
07/30/2012 Federal Court in Idaho Orders Michael Justin Hoopes to Pay over $11.8 Million for Operating a Ponzi Scheme
07/30/2012 CFTC Charges California Resident Victor Yu and His Company, VFRS, LLC, with Multi-Million Dollar Forex Fraud and Failure to Register as a Commodity Trading Advisor
07/26/2012 CFTC Suspends Registrations of Chicago Mercantile Exchange Traders Christopher Foufas, William Kerstein, and Maksim Baron for Unlawful S&P 500 Trading
07/25/2012 CFTC Orders Interactive Brokers LLC, a Registered Futures Commission Merchant, to Pay $700,000 for Large Trader Reporting and Supervision Violations
07/25/2012 CFTC Charges Florida Residents Philip Leon, Paul Rangel, and John Wilkins and Their Company, Altamont Global Partners LLC, with Fraud and Misappropriation
- Complaint: Altamont Global Partners LLC, et al.
- Ex Parte Order: Altamont Global Partners LLC, et al.
07/24/2012 CFTC Seeks to Revoke Registrations of Brian Kim and his Company, Liquid Capital Management, LLC
07/18/2012 CFTC Orders LMC Asset Management, Inc. to Pay $140,000 Civil Penalty for Forex Registration Violations
07/18/2012 Federal Court in Missouri Orders Randall L. Stuckey and His Business Entities to Pay a $250,000 Penalty to Settle CFTC Forex Futures Fraud Action
- Permanent Injunction: Randall Lynn Stuckey, et al.
- Memorandum and Order: Randall Lynn Stuckey, et al.
- Judgment: Randall Lynn Stuckey, et al.
07/16/2012 Federal Court in California Orders Las Vegas Resident Gordon A. Driver and His Companies to Pay over $41 Million in Restitution and Penalties in Commodity Pool Ponzi Scheme
- Order Granting Motion for Summary Judgment: Gordon A. Driver, et al.
- Final Judgement Order: Gordon A. Driver, et al.
07/11/2012 CFTC Charges Houston-based Christopher Daley and his company, TC Credit Service, LLC, with Solicitation Fraud and Misappropriation in $1.4 Million Dollar Commodity Pool Scheme
07/10/2012 CFTC Files Complaint Against Peregrine Financial Group, Inc. and Russell R. Wasendorf, Sr. Alleging Fraud, Misappropriation of Customer Funds, Violation of Customer Fund Segregation Laws, and Making False Statements
07/09/2012 Federal Court in Texas Orders Robert Mihailovich, Sr. and Growth Capital Management LLC to Pay over $9.3 Million in CFTC Anti-fraud Action
06/28/2012 CFTC Obtains Default Judgment against The Trade Tech Institute, Inc., Technology Trading International, Inc., and Robert Sorchini for Fraudulent Solicitation of Managed Commodity Trading Accounts and Obtains Consent Judgment against Richard Carter as Cont
- Order: The Trade Tech Institute Inc., et al.
- Order: The Trade Tech Institute, Inc., et al.
- CFTC and State of California Charge The Trade Tech Institute, Inc., Technology Trading International, Inc., Robert Sorchini and Richard Carter with Fraudulently Soliciting More than 600 Managed Commodity Trading Accounts
06/27/2012 CFTC Orders Barclays to pay $200 Million Penalty for Attempted Manipulation of and False Reporting concerning LIBOR and Euribor Benchmark Interest Rates
- Order: Barclays PLC, et al.
- Statement Regarding CFTC Charges Against Barclays PLC, Barclays Bank PLC and Barclays Capital Inc.
06/26/2012 Federal Court in Florida Orders Over $2.5 Million in Sanctions against Abraham Gutterman and His Companies for Commodity Options Fraud and Misappropriation
06/21/2012 Federal Court in Texas Orders Linda Harris, Chance Harris, CDH Forex Investments, LLC, and CDH Global Holdings, LLC, to Pay over $5.4 Million in Restitution and a Monetary Sanction for Forex Fraud
- Order: CFTC v. CDH Forex Investments, et al
- CFTC Charges Texas Residents Linda Harris, Chance Harris and Two of Their Companies with Solicitation Fraud, Misrepresentation, and Misappropriation in Multi-Million Dollar Forex Scheme
06/14/2012 Federal Court in Illinois Orders Defendants Richard C. Regan and Pro Trading Course, LLC to Pay More than $600,000 in Restitution and Civil Monetary Penalties to Settle CFTC Anti-Fraud Action
06/13/2012 CFTC Settles Charges against Defendant Robert Mihailovich, Jr. for Making False Statements to the CFTC
06/07/2012 CFTC Charges Jose S. Rubio and his Florida firm, Rubio Wealth Management, LLC, with Commodity Pool Fraud
06/07/2012 CFTC Orders Futures Commission Merchant Open E Cry, LLC to Pay $250,000 to Settle Failure to Supervise Charges
06/06/2012 CFTC Charges Ronnie Gene Wilson of South Carolina and His Company, Atlantic Bullion & Coin, Inc., with Operating a $90 Million Silver Bullion Ponzi Scheme
06/06/2012 CFTC Orders Nevada Resident Luis Salazar-Correa and His Company, Prosperity Team, LLC, to Pay More than $2.6 Million to Settle CFTC Anti-fraud Forex Action
06/05/2012 CFTC Orders Morgan Stanley & Co. LLC to Pay $5 Million Civil Monetary Penalty for Unlawful Noncompetitive Trades
05/31/2012 Federal Court in Georgia Orders over $10 Million in Sanctions against Defendant Eldon A. Gresham in Forex Ponzi Scheme
- Summary Judgment Order: Relief Defendants Werner H. Beiersdoerfer and Interveston Wines, LLC
- Final Order: Eldon A. Gresham
- Summary Judgment Order: Eldon A. Gresham
05/30/2012 Federal Court in New Jersey Orders Victor Eugene Cilli and His Company, Progressive Investment Funds LLC, to Pay over $700,000 in Restitution and Penalty in Commodity Pool Ponzi Scheme
05/25/2012 CFTC Charges CTI Group, LLC, Cooper Trading, Stephen Craig Symons, and James David Kline, all of California, with an $11 Million Fraud in the Sale of Automated Trading Systems
05/25/2012 CFTC Charges Washington, DC, Resident Marina Bühler-Miko and Her Company, Coventry Asset Managers, LLC, with Operating Fraudulent Forex Scheme
05/24/2012 CFTC Charges Chicago-based Trader Bradley Schiller with $7.8 Million Commodity Fraud
05/23/2012 Federal Court in New York Orders Chicago Resident and Former Floor Broker, Kent R.E. Whitney, to Pay $600,000 for Margin Call Avoidance Scheme
05/16/2012 Federal Court in South Carolina Orders Ronald E. Satterfield and Nicholas and Patricia Bos to Pay over $7.5 Million for Fraud in Connection with a Forex Ponzi Scheme
- Order: Nicholas and Patricia L. Bos
- Order: Graham Street Forex Group, LLC et al.
- Order: Ronald E. Satterfield, et al.
05/14/2012 CFTC Orders ACI Capital Group, L.L.C. and Alexandre P. Guimaraes to Pay Approximately $850,000 in Restitution and Penalty to Settle Forex Fraud Charges
05/11/2012 CFTC Charges Michael J. Leighton of Torrance, Calif., with $1.6 Million Commodity Pool Fraud
05/09/2012 CFTC Charges New York Firm Madison Dean, Inc., and its Principals, George Athanasatos and Laurence Dodge, with Forex Fraud
05/08/2012 CFTC Obtains Default Judgment against Former Florida Resident Juvenal E. Machado and His Company, Invers Forex, LLC, for Off-Exchange Forex Scam
05/03/2012 Federal Court in New York Orders Thomas Qualls and His Company, International Foreign Currency, to Pay More than $4.6 Million in Restitution and Penalties in Connection with Off-Exchange Forex Futures Fraud
- Memo: International Foreign Currency, Inc., et al.
- Order: International Foreign Currency, Inc., et al.
05/03/2012 CFTC Charges Utah Residents Christopher Hales, Eric Richardson and their Company, Bentley Equities, LLC, with Fraud and Misappropriation
05/03/2012 CFTC Charges Illinois Resident Dimitry Vishnevetsky and His Company, Oxford Capital, LLC, with Commodity Pool Fraud
05/01/2012 Federal Court in Illinois Orders Trading Point of Financial Instruments Ltd. to Pay $140,000 Penalty for Acting as Unregistered Retail Forex Dealer
05/01/2012 CFTC Charges Sidney J. Charles, Jr. and his Maryland-based Company, The Borrowing Station, LLC, in Forex Ponzi Scheme
04/26/2012 Federal Court Enters Order Settling CFTC $85 Million Forex Fraud Action against California Resident Peter Son and his Companies SNC Asset Management, Inc. and SNC Investments, Inc.
04/26/2012 CFTC Orders Texas-based PassThrough Investments, LLC, and its Principals, Stephen Brantley and Dwayne Bryant Dawson, to Pay over $1.1 Million in Sanctions to Settle CFTC Charges of Fraud in Operating a Forex Trading Pool
04/26/2012 CFTC Settles Action against Florida Resident Ghassan Tawachi for Fraud and Misappropriation
04/25/2012 CFTC Charges Georgia Resident Robert A. Christy and His Company Crabapple Capital Group LLC with Foreign Currency Fraud and Misappropriation
04/23/2012 Federal Court in California Orders Forex Liquidity LLC to Pay $400,000 for Failing to Maintain Required Net Capital and Books and Records
04/19/2012 Federal Court Orders $14 Million in Fines and Disgorgement Stemming from CFTC Charges against Optiver and Others for Manipulation of NYMEX Crude Oil, Heating Oil, and Gasoline Futures Contracts and Making False Statements
04/18/2012 Federal Court Orders Colorado Defendants Flint-McClung Capital LLC and Shawon McClung to Pay over $6 Million in CFTC Action Charging Them with Running Forex Ponzi Scheme
04/18/2012 Virginia Federal Court Orders Ronald W. Smith, Jr., Doing Business as Safeguard 3030 Investment Club, to Pay More than $3 Million in Forex Ponzi Scheme
04/13/2012 CFTC Revokes Registration of Robert Wayne Mansell
04/12/2012 CFTC Orders Rosenthal Collins Group, LLC, a Registered Futures Commission Merchant, to Pay More than $2.5 Million for Supervision and Record-Production Violations
04/12/2012 CFTC Charges Brad Lee Demuzio of Idaho and his Company, Demuzio Capital Management, with Operating a Fraudulent $1.8 Million Commodity Pool and Forex Ponzi Scheme
04/09/2012 Federal Court in Texas Orders Total Call Group, Inc. and its Principals to Pay over $4.8 Million in Fines for Making False Representations and Issuing False Account Statements in Forex Fraud
04/04/2012 CFTC Orders JPMorgan Chase Bank, N.A. to Pay a $20 Million Civil Monetary Penalty to Settle CFTC Charges of Unlawfully Handling Customer Segregated Funds
04/02/2012 CFTC Charges Royal Bank of Canada with Multi-Hundred Million Dollar Wash Sale Scheme
03/28/2012 CFTC Seeks to Revoke the Registrations of Illinois Resident Joseph A. Dawson and His Company, Strategic Research LLC
03/26/2012 Federal Court in Puerto Rico Orders Angel F. Collazo and ACJ Capital, Inc. to Pay over $3.7 Million for Solicitation Fraud and Issuing False Statements in an Off-Exchange Foreign Currency Scheme
03/21/2012 CFTC Revokes Registrations of Richard Allan Finger, Jr. and his Company, Black Diamond Futures, LLC Based on Criminal Action
03/20/2012 CFTC Charges Florida Resident Abraham Gutterman and His Companies, Alliance Capital Metals LLC and AR Goldman Wealth Management, LLC with Commodity Gold and Oil Options Fraud and Misappropriation
03/14/2012 CFTC Charges Joseph F. Welsh III, Former MF Global Broker, with Attempted Manipulation of Palladium and Platinum Futures Prices
03/13/2012 CFTC Charges Arjent Capital Markets LLC, Chicago Trading Managers LLC, Spencer Montgomery, and Brian Reynolds with Commodity Pool Fraud
03/13/2012 CFTC Orders Goldman Sachs Execution & Clearing, L.P., a Registered Futures Commission Merchant, to Pay $7 Million for Supervision Failures in Handling Accounts it Carried
03/13/2012 CFTC Orders Chicago Futures Commission Merchant FCStone, LLC and New York Introducing Broker Commodity Operations Inc. to Pay $260,000 for Supervision Violations
03/13/2012 CFTC Charges MBF Clearing Corp. with Violations of Customer Fund Segregation Requirements
03/12/2012 CFTC Charges Florida Firm Angus Jackson, Inc. and its CFO Martin H. Bedick with Making False, Fictitious, or Fraudulent Statements to the NFA
03/12/2012 Federal Court in Illinois Orders City Credit Capital, (UK) Ltd. to Pay $140,000 Civil Monetary Penalty for Acting as Unregistered Retail Forex Dealer
03/09/2012 CFTC Charges Illinois Resident Christopher Varlesi with Commodity Pool Fraud, Misappropriation, False Statements, and Failure to Register
03/08/2012 J.P. Morgan Securities LLC Agrees to Pay $140,000 Penalty for Confirming the Execution of a Prearranged Trade on the CBOT
03/08/2012 BlackRock Institutional Trust Co. NA Agrees to Pay $250,000 Penalty to Settle Charges of Prearranged Trading and Fictitious Sales on the CBOT
03/07/2012 Federal Court in Illinois Orders Windsor Brokers, Ltd. of Cyprus to Pay $140,000 Civil Monetary Penalty, Cease Soliciting U.S. Customers, and Modify Website
03/07/2012 CFTC Charges Alabama Resident John David Stroud and His Companies with Commodity Pool Fraud and Misappropriation
02/29/2012 Federal Court in Illinois Orders Australian Firm Enfinium Pty Ltd to Pay $80,000 Penalty, Cease Soliciting U.S. Customers, and Modify Website
02/28/2012 CFTC Charges IAG Capital Management, LLC and William Patrick Kelly, of Conn., with Commodity Pool Fraud, Commingling Pool Funds, and Making False Statements to the NFA
02/27/2012 CFTC Charges Alexander Giap of Annandale, Va., with Fraud by an Unregistered Commodity Trading Advisor
02/27/2012 CFTC Orders James G. Brandolino to Pay $1 Million Penalty to Settle CFTC Charges of Commodity Futures Fraud
02/27/2012 Federal Court in Illinois Orders Former Futures Trader David Sklena to Pay over $6.6 Million for Cheating Customers
02/23/2012 CFTC Orders Iowa Resident Jeffrey J. Kinseth and His Company, Virtual Vision Inc., to Pay More than $1 Million in Restitution and Penalties in Fraud Action
02/22/2012 CFTC Orders New York Firm D.E. Shaw & Co. L.P. to Pay $140,000 Penalty for Violating Soybean and Corn Futures Speculative Position Limits
02/22/2012 CFTC Settles Action against Aaron Klein for Failing to Disclose He Was a Registrant’s Principal
02/17/2012 CFTC Charges Mitchell Brian Huffman of North Carolina with Operating a Fraudulent $3.2 Million Commodity Pool Scheme
02/16/2012 Federal Court Orders Texas Resident Robert D. Watson to Pay $31 Million for Defrauding Customers, Misappropriating Millions of Dollars, and Providing Fictitious Records in Forex Scheme
- Consent Order: Daniel Petroski
- Consent Order: PrivateFX Global One Ltd., SA, et al.
- Order: PrivateFX Global One Ltd., SA, et al.
02/15/2012 CFTC Charges Puerto Rico Resident Angel F. Collazo and his Companies, ACJ Capital Inc. and Solid View Capital LLC, in Forex Fraud Ponzi Scheme
- Order: ACJ Capital, Inc., et al.
- Complaint: CFTC v. Solid View Capital LLC et al
- Order: CFTC v. Solid View Capital LLC et al
02/15/2012 Georgia Federal Court Enters Order for Permanent Injunction against Joseph L. Autry, Jr. and His Company, Autry Capital Management LLC, for Commodity Fraud
02/09/2012 CFTC Obtains Permanent Injunction against British Virgin Island Firm InterForex, Inc. for Acting as an Unregistered Retail Forex Dealer; Firm Ordered to Modify Website
02/08/2012 CFTC Charges Texas Resident Christopher B. Cornett in Foreign Currency Fraud Action
02/02/2012 Arizona Federal Court Orders Anthony Eugene Linton to Pay More Than $1.7 Million for Operating Ponzi Scheme
01/31/2012 CFTC Issues Consumer Advisory Alerting Public to Possible Precious Metals Fraud
01/23/2012 CFTC Orders Conn. Resident Timothy Michael Murphy and His Company, Centurion Global Capital Management LLC, to Pay $360,000 for Commodity Pool Solicitation Fraud
01/12/2012 CFTC Files Enforcement Action against Two Indian Citizens for Allegedly Engaging in an Illegal Trading Scheme
01/09/2012 CFTC Orders Newedge USA, LLC, a Registered Futures Commission Merchant, to Pay $700,000 for Submitting Inaccurate Large Trader Reports to the CFTC and for Violating a Prior CFTC Order
01/05/2012 Federal Court Orders CFTC Defendant Larry Benny Groover to Pay $2.69 Million for Defrauding Customers in Forex Ponzi Scheme
01/05/2012 Illinois Federal Court Imposes $140,000 Civil Monetary Penalty on Foreign Currency Firm, FXOpen Investments Inc., for Acting as an Unregistered Retail Foreign Exchange Dealer
- _______________________________________
May 24, 2012
CFTC Staff to Host a Public Roundtable to Discuss the Proposed Volcker Rule Washington, DC – The Commodity Futures Trading Commission (CFTC) today announced that staff will hold a public roundtable on Thursday, May 31, 2012, from 9:30 a.m. to 4:30 p.m., to discuss the proposed regulations to implement Section 619 (commonly known as the Volcker Rule) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 619 contains certain prohibitions and restrictions on the ability of banking entities to engage in proprietary trading and to have certain interests in, or relationships with, a hedge fund or private equity fund.
The roundtable will consist of two panels that are composed of a variety of market participants and members of the public. The first panel, starting at 9:30 a.m., will discuss the various hedging provisions and requirements of the CFTC’s proposed Volcker Rule. The second panel will start at 2:00 p.m., and discuss the market-making sections of the CFTC’s proposed Volcker Rule. The roundtable will help the Commission by providing additional public input for the final rulemaking.
Agenda for the Public Roundtable Discussion:
9:30 a.m.
Introduction
Section 619 of the Dodd-Frank Act: Prohibitions on Proprietary Trading and Certain Relationships with Hedge Funds and Private Equity Funds.
CFTC Notice of Proposed Rulemaking (77 FR 8332)
9:45 a.m.
Panel One: Hedging
11:15 a.m.
Intermission (15 minutes)
12:45 p.m.
Lunch
2:00 p.m.
Panel Two: Market-Making
3:15 p.m.
Intermission (15 minutes)
4:30 p.m.
Concluding Remarks
The roundtable will be held in the Conference Center at the CFTC’s Headquarters at Three Lafayette Centre, 1155 21st Street, NW, Washington, DC, 20581. The discussion will be open to the public. Members of the public may also listen by telephone and should be prepared to provide their first name, last name and affiliation.
Listening information for the roundtable:
• US Toll-Free: 1-866-844-9416
• International Toll: see related links
• Passcode: CFTC
A transcript of the roundtable discussion will be published on the Commission’s website: www.cftc.gov.
Members of the public wishing to submit their views on the topics addressed at the roundtable may do so via:
• Paper submission to David Stawick, Secretary, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street, NW, Washington, DC 20581; or
• Electronic submission by visiting http://comments.cftc.gov and following the instructions for submitting comments through the Commission’s website.
All comments must be identified by RIN number 3038-AD05. All submissions provided to the CFTC in any electronic form or on paper may be published on the Commission’s website, without review and without removal of personally identifying information.
Last Updated: May 31, 2012
- TAKE THE TIME NOW TO GO TO COMMENT PAGE AND LET THEM KNOW YOU WANT STRICT REGULATION OF FOREIGN DERIVATIVES MARKETS.
After Delay and Debate, Regulators Support New Rule
By BEN PROTESS Legal/Regulatory June 29, 2012, 6:13 pm
Regulators agreed to support a draft proposal to regulate overseas derivatives trading, a move that comes just days after internal wrangling delayed the plan and prompted several last-minute changes.
The Commodity Futures Trading Commission announced on Friday that its five members voted unanimously to support the rule, which would apply new derivatives rules not only to banks in the United States, but also to American banks that have foreign units. The rules, which impose capital standards and other new oversight measures, would also affect foreign banks that conduct significant derivatives trading in the United States.
The overhaul gained new focus after JPMorgan’s multibillion-dollar trading loss in London.
“The recent events of JPMorgan Chase, where it executed swaps through its London branch, are a stark reminder of this reality of modern finance,” Gary Gensler, the agency’s chairman, said in a statement.
The proposal now enters a public comment period, after which the agency will vote to complete the plan.
The vote, which occurred behind the scenes over the last several days, was initially scheduled for a public meeting last week. But as commissioners staged an 11th-hour debate over the fine print of the proposal, the agency canceled the meeting only hours before it was scheduled to start. The agency provided no explanation, sending out a cryptic e-mail that it would “no longer hold a scheduled meeting on June 21, 2012.”
The final negotiations, occurring between Mr. Gensler and one of his fellow Democratic commissioners, yielded a more flexible proposal that gives Wall Street additional time to comply.
The tweaks put the proposal back on track. Even the agency’s two Republican members signed on, at least for now. Both Republicans, however, issued concurring opinions that spelled out concerns about the scope of the plan.
Scott O’Malia, one of the Republican members, stated “strong reservations about the statutory authority” of the proposal and expressed concern about “the commission’s decision to issue interpretive guidance instead of a formal rule-making.”
Bart Chilton, a Democratic member of the commission who supported the earlier and tougher version of the proposal, praised the agency’s effort.
“This is about a balanced and thoughtful approach — a planetary patchwork of harmonized financial and markets rules of the road,” he said in a statement
~
Released: January 11, 2012
Rule-writing process As a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the CFTC will write rules to regulate the swaps marketplace.
The CFTC has identified 32 areas where rules will be necessary. The public is encouraged to provide input on the rule-writing process. Information regarding each rule-writing area will be published as it becomes available.
The links below provide information on the 32 areas that the CFTC must address in its rule-writing, and also list the proposed rules and final rules issued by the Commission thus far.
See List of Rulemaking Areas
View all Proposed Rules, Orders, Guidance and Advance Notices of Proposed Rules
View all Dodd-Frank Final Rules, Orders and Guidance
View all Dodd-Frank Open Meetings and Public Roundtables
External Meetings The CFTC is committed to transparency in the rulemaking process. Information on all meetings that Chairman Gensler and Commission staff have with outside organizations regarding the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act will be made public. The topics of the meetings, attendees, summaries of the meetings and any materials presented to the CFTC are posted here.
See List of External Meetings
Reports and Studies The Dodd-Frank Wall Street Reform and Consumer Protection Act requires the CFTC to conduct a number of studies and reports on a wide variety of issues that affect the derivatives market. Information regarding these reports and studies will be published as it becomes available.
See List of Reports and Studies
Text of H.R. 4173: Dodd-Frank Wall Street Reform and Consumer Protection Act Download the PDF of the bill, or
Read the text on THOMAS
Swaps regulation The Dodd-Frank Wall Street Reform and Consumer Protection Act brings comprehensive reform to the regulation of swaps. These products, which have not previously been regulated in the United States, were at the center of the 2008 financial crisis.
Regulate Swap Dealers
_________________________________________
TAKE A LOOK AT WHAT THEY ARE WORKING AND TAKE THE TIME TO COMMENT ON ANY ISSUE OF INTEREST TO YOU!!
Font Size: AAA // Print // Bookmark Public Comments VIEW UPCOMING & RECENT EVENTS
Upcoming Comment Deadline // All Comment Files by Year // Search All Comments Deadline Comment Description 12/31/2012 Proposed Rule 77 FR 60113 // PDF Version
Commodity Futures Trading Commission and Securities and Exchange Commission Acceptance of Public Submissions Regarding the Study of Stable Value Contracts
Open Date: 10/2/2012 Closing Date: 12/31/2012 See also:
76 FR 53162 , 8/25/2011 // PDF Version Commodity Futures Trading Commission and Securities and Exchange Commission Acceptance of Public Submissions Regarding the Study of Stable Value Contracts
12/31/2012 Orders and Other Announcements 77 FR 65675 // PDF Version
Commodity Futures Trading Commission, Office of Consumer Outreach
Open Date: 10/30/2012 Closing Date: 12/31/2012 1/7/2013 Public Information Collection 77 FR 66819 // PDF Version
Agency Information Collection Activities: Notice of Intent To Extend Collection 3038-0098: Exemptive Order Regarding Compliance With Certain Swap Regulations
Open Date: 11/7/2012 Closing Date: 1/7/2013 1/7/2013 Industry Filing IF 12-014
Request from the Chicago Mercantile Exchange Inc. to Adopt New Chapter 10 (“Regulatory Reporting of Swap Data”) and New Rule 1001 (“Regulatory Reporting of Swap Data”) of CME’s Rulebook
The Commodity Futures Trading Commission (Commission) is accepting public comment on an amended request from the Chicago Mercantile Exchange Inc. (CME) for approval of a rule (Rule 1001) submitted pursuant to section 40.5 of the Commission’s regulations.
Open Date: 12/10/2012 Closing Date: 1/7/2013 1/14/2013 Proposed Rule 77 FR 67866 // PDF Version
17 CFR Parts 1, 3, 22, 30, and 140 Enhancing Protections Afforded Customers and Customer Funds Held by Futures Commission Merchants and Derivatives Clearing Organizations
Open Date: 11/14/2012 Closing Date: 1/14/2013 1/22/2013 Public Information Collection 77 FR 69806 // PDF Version
Agency Information Collection Activities: Notice of Intent To Renew Collection, Procurement Contracts
Open Date: 11/21/2012 Closing Date: 1/22/2013 2/15/2013 Public Information Collection 77 FR 74647 // PDF Version
Agency Information Collection Activities: Proposed Collection, Comment Request: Form TO, Annual Notice Filing for Counterparties to Unreported Trade Options
Open Date: 12/17/2012 Closing Date: 2/15/2013
- Order: Alexander Giap
- CFTC Charges Alexander Giap of Annandale, Va., with Fraud by an Unregistered Commodity Trading Advisor
- Statement of Support by Commissioner Scott D. O’Malia for Bringing and Settling Charges against UBS AG and UBS Securities Japan, Co., Ltd.
- Statement of CFTC Chairman Gary Gensler on Settlement Order Against UBS
- "A Conscience Isn't Nonsense"
- Order: UBS AG, et al.
- Examples of Misconduct From Written Communications
12/10/2012 Federal Court in Texas Orders Houston-based Defendants Christopher Daley and his Company, TC Credit Service d/b/a Del-Mair Group, to Pay Over $2.6 Million for Fraud in a Commodity Pool Scheme
- Order: Del-Mair Group, LLC
- CFTC Charges Houston-based Christopher Daley and his company, TC Credit Service, LLC, with Solicitation Fraud and Misappropriation in $1.4 Million Dollar Commodity Pool Scheme
- Statement of Commissioner Bart Chilton Concurring in part and Dissenting in part to the Settlement In the Matter of Goldman, Sachs & Co.
- Order: Goldman, Sachs & Co.
12/05/2012 CFTC Charges Hunter Wise Commodities, Lloyds Commodities, C.D. Hopkins Financial, United States Capital Trust, Newbridge Alliance, Blackstone Metals Group, and their Principals in Multi-Million Dollar Fraudulent Precious Metals Scheme
12/05/2012 Federal Court in Idaho Orders CFTC Defendant Trigon Group, Inc. to Return More than $20.6 million of Ill-Gotten Gains to Victims of its Fraud
12/05/2012 Federal Court in New York Orders Defendants Forex Capital Trading Group, Forex Capital Trading Partners, and Highland Stone Capital Management to Pay over $1.8 Million for Fraud in Off-Exchange Foreign Currency Scheme
12/04/2012 CFTC Settles Charges against Deepak Singhal and Meera Singhal for Engaging in Illegal Trading Scheme
- Order: Deepak Singhal and Meera Singhal
- CFTC Files Enforcement Action against Two Indian Citizens for Allegedly Engaging in an Illegal Trading Scheme
12/03/2012 Federal Court Orders MBF Clearing Corp. to Pay $650,000 for Violating Customer Fund Segregation Requirements
11/29/2012 Federal Court in New York Orders Marc Perlman and iGlobal Strategic Management, LLC to Pay over $2 Million for Solicitation Fraud and Misappropriation Involving Off-Exchange Foreign Currency and a Commodity Pool Ponzi Scheme
11/27/2012 CFTC Orders Benjamin Hutchen, Formerly of Morgan Stanley & Co. LLC, to Pay a $300,000 Civil Monetary Penalty for Engaging in Unlawful Noncompetitive Futures Trades
11/27/2012 CFTC Charges Connecticut Resident Feisal Sharif with Operating a $5.4 Million Commodity Pool Ponzi Scheme and Misappropriating at least $900,000 of Pool Participants’ Funds
11/26/2012 CFTC Charges Ireland-based “Prediction Market” Proprietors Intrade and TEN with Violating the CFTC’s Off-Exchange Options Trading Ban and Filing False Forms with the CFTC
11/23/2012 CFTC Charges North Carolina Resident Michael Anthony Jenkins and his Company, Harbor Light Asset Management, LLC, with Solicitation Fraud, Misappropriation, and Embezzlement in Ponzi Scheme
11/21/2012 Cantor Fitzgerald Sanctioned $700,000 for Allowing Customer Funds to Become Under-Segregated
11/20/2012 CFTC Orders Eagle Market Makers Inc. to Pay over $223,000 in Penalties and Disgorgement to Settle Charges of Violating Corn Futures Speculative Position Limits and Failing to Supervise Traders
11/08/2012 CFTC Charges Matthew Marshall Taylor with Fraud for Fabricating and Concealing Trades from His Employer and Obstructing Their Discovery
11/01/2012 Federal Court in Idaho Orders Brad Lee Demuzio and Demuzio Capital Management, LLC, to Pay over $3 Million in Connection with CFTC Commodity Pool Forex Fraud Action
10/26/2012 CFTC Orders Illinois Resident Joshua T.J. Russo to Pay More than $1.8 Million in Restitution and Penalties for Futures and Options Fraud and Unauthorized Trading
10/25/2012 CFTC Obtains Federal Court Order against Nicholas Cosmo for Engaging in Unauthorized Futures Trading that Resulted in Tens of Millions of Dollars in Investor Losses
10/23/2012 Federal Court Orders Robert A. Christy and His Company, Crabapple Capital Group LLC, to Pay over $2.6 Million in Monetary Sanctions for Foreign Currency Fraud
10/23/2012 CFTC Orders San Gabriel, California Resident David Kaup and His Companies to Pay over $1.89 Million in Restitution and Penalties to Settle Forex Fraud and Misappropriation Charges
10/23/2012 CFTC Charges Floridian Christopher Smithers with Fraud in Connection with Commodity-Related Activities and Violations of a Federal Court’s Prior Orders
10/22/2012 CFTC Orders Morgan Stanley Smith Barney LLC to Pay $200,000 for Supervision Violations
10/18/2012 CFTC Charges David M. Nunn with Engaging in an Illegal Trading Scheme and Making False Statements to ICE Futures US
10/10/2012 CFTC Orders Farr Financial Inc. to Pay $280,000 to Settle Charges of Improper Investment of Customer Segregated Funds and Supervision Failures
10/05/2012 CFTC Releases Enforcement Division’s Annual Results
10/04/2012 Federal Court in Florida Imposes $350,000 Penalty against GlobeFX Club, Inc. and Jeremy Munson Globe for Making False Statements to the National Futures Association
10/01/2012 Federal Court Orders Oscar Hernandez and His Companies to Pay $1.4 Million in Penalties and Bars Him from the Commodities Industry for Operating a Commodity Pool Ponzi Scheme
09/28/2012 Federal Court Orders Martin B. Rosenthal to Pay $1.2 Million for Aiding and Abetting the Making of False Statements to the NFA, Failing to Register as a Commodity Trading Advisor, and Violating a Previous CFTC Order
09/28/2012 CFTC Charges Boston Resident John B. Wilson and His Company with Commodity Pool Fraud
09/27/2012 CFTC Charges iFinix Futures, Inc. and Its Senior Executive Officer, Connecticut Resident Benhope Marlon Munroe, with Making False Statements to the National Futures Association and Failing to Meet Minimum Financial Requirements
09/27/2012 CFTC Orders JP Morgan Chase Bank, N.A. to Pay $600,000 Civil Monetary Penalty for Violating Cotton Futures Speculative Position Limits
09/27/2012 Florida Federal Court Orders Claudio Aliaga and His Company, CMA Capital Management, LLC, to Pay $5.5 Million in Penalties and Restitution for Operating a Forex Ponzi Scheme
09/27/2012 CFTC Orders Australia and New Zealand Banking Group Ltd. to Pay $350,000 Penalty for Violating Wheat and Cotton Futures Speculative Position Limits
09/25/2012 CFTC Orders China-based Weidong Ge and Sheenson Investments, Ltd. to Pay $1.5 Million in Monetary Sanctions for Violating Speculative Position Limits in Cotton And Soybean Futures
09/25/2012 CFTC Seeks to Revoke Registrations of Nevada Resident Gordon A. Driver and his Company, Axcess Fund Management LLC
09/25/2012 CFTC Charges Wisconsin Resident Eric N. Schmickle and His Company, Q Wealth Management Inc., with Operating a $5.3 Million Commodity Futures Fraud
09/25/2012 CFTC Seeks to Revoke Registrations of Victor E. Cilli and his Company Progressive Investment Funds, LLC
09/21/2012 CFTC Sanctions York Business Associates LLC d/b/a TransAct Futures, a Registered Futures Commission Merchant, $199,000 for Supervision Failures in Handling a Customer Account
09/21/2012 CFTC Orders Infinity Futures LLC, an Introducing Broker, to Pay $340,000 for Supervision Violations
09/21/2012 CFTC Orders Citigroup Inc. and Citigroup Global Markets Ltd. to Pay $525,000 Penalty for Violating Wheat Futures Speculative Position Limits
09/21/2012 CFTC Obtains Default Judgment and Permanent Injunction Order against ProfitStars Intl, Corp. and Ulysis Starling for Engaging in a Business that Operated as a Deceit and Violating a Regulatory Disclosure Requirement
09/21/2012 CFTC Seeks to Revoke the Commodity Trading Advisor Registration of Pro Trading Course, LLC
09/19/2012 CFTC Charges Grahame Rhodes of Missouri with Fraud, Misappropriation, and Commingling Funds in Multi-Million Dollar Commodity Pool Ponzi Scheme
09/19/2012 CFTC Charges Australian Resident Senen Pousa, U.S. Resident Joel Friant, and Their Company, Investment Intelligence Corp., with Operating a Fraudulent $53 Million Worldwide Off-Exchange Forex Scheme; Michael Dillard and Elevation Group Also Charged
09/13/2012 CFTC Charges Florida Resident William Jeffery Chandler with Forex Fraud and Misappropriation
09/11/2012 CFTC Seeks to Revoke Registrations of Linda Faye Harris and her companies, CDH Forex Investments, LLC and CDH Global Holdings, LLC
09/10/2012 CFTC Charges Lincolnshire Trading Partners, LLC. and Scott Geisinger with Registration Violations
09/07/2012 CFTC Charges Nikolai S. Battoo and Four Companies He Controls with Fraud In Connection With Commodity Pools that Accepted Over $140 Million from U.S. Investors
09/06/2012 Federal Court in Tennessee Orders Blue Sky Capital Management Corp. and its Principal, Gregory M. Schneider, to Pay $140,000 for Making False Statements to the National Futures Association
08/31/2012 Federal Court in California Orders Charles Steven Goodie and His Business, CSG Commodity Service Group, to Pay Nearly $1.2 Million to Settle CFTC Commodity Pool Fraud Action
08/31/2012 Federal Court in Texas Orders Christopher B. Cornett to Pay over $17 Million in Sanctions in Foreign Currency Fraud Action
08/30/2012 CFTC Charges Californian Jeffrey Gustaveson with Fraud, Misappropriation, and Issuing False Statements in Commodity Pool Scheme
08/29/2012 CFTC Charges Texas Resident Jonathan Hansen and His Company, J. Hansen Investments, LLC, with Commodity Pool Fraud, Misappropriation, and Commingling of Funds
08/29/2012 CFTC Charges California Resident Marc Perlman and his company, iGlobal Strategic Management, LLC, with Solicitation Fraud and Misappropriation in Commodity Pool Ponzi Scheme
08/27/2012 CFTC Orders Foreign Traders SMP Bank and Epaster Investments, Ltd. to Pay $980,000 for Engaging in a Wash Sale Scheme in the CME’s Japanese Yen Options Contract
08/24/2012 CFTC Seeks to Revoke Registration of Growth Capital Management LLC Based on CFTC Anti-Fraud Action
08/23/2012 CFTC Charges Illinois Resident Donald A. Newell and his Company, Quiddity, LLC, with Running a Fraudulent Allocation Scheme, Making Material False Statements to the CFTC, and Recordkeeping Violations
08/13/2012 CFTC Settles Action against Douglas Elsworth Wilson and Three California Companies for Solicitation Fraud, Misappropriating Customer Funds, and Issuing False Statements in Commodity Futures and Forex Scheme
08/13/2012 CFTC Charges Colorado Resident Michael Bruce Gale with Commodity Pool Fraud
- Order: Michael Gale d/b/a Capital Management Group
- Complaint: Michael Gale d/b/a Capital Management Group
07/30/2012 CFTC Charges California Resident Victor Yu and His Company, VFRS, LLC, with Multi-Million Dollar Forex Fraud and Failure to Register as a Commodity Trading Advisor
07/26/2012 CFTC Suspends Registrations of Chicago Mercantile Exchange Traders Christopher Foufas, William Kerstein, and Maksim Baron for Unlawful S&P 500 Trading
07/25/2012 CFTC Orders Interactive Brokers LLC, a Registered Futures Commission Merchant, to Pay $700,000 for Large Trader Reporting and Supervision Violations
07/25/2012 CFTC Charges Florida Residents Philip Leon, Paul Rangel, and John Wilkins and Their Company, Altamont Global Partners LLC, with Fraud and Misappropriation
- Complaint: Altamont Global Partners LLC, et al.
- Ex Parte Order: Altamont Global Partners LLC, et al.
07/18/2012 CFTC Orders LMC Asset Management, Inc. to Pay $140,000 Civil Penalty for Forex Registration Violations
07/18/2012 Federal Court in Missouri Orders Randall L. Stuckey and His Business Entities to Pay a $250,000 Penalty to Settle CFTC Forex Futures Fraud Action
- Permanent Injunction: Randall Lynn Stuckey, et al.
- Memorandum and Order: Randall Lynn Stuckey, et al.
- Judgment: Randall Lynn Stuckey, et al.
- Order Granting Motion for Summary Judgment: Gordon A. Driver, et al.
- Final Judgement Order: Gordon A. Driver, et al.
07/10/2012 CFTC Files Complaint Against Peregrine Financial Group, Inc. and Russell R. Wasendorf, Sr. Alleging Fraud, Misappropriation of Customer Funds, Violation of Customer Fund Segregation Laws, and Making False Statements
07/09/2012 Federal Court in Texas Orders Robert Mihailovich, Sr. and Growth Capital Management LLC to Pay over $9.3 Million in CFTC Anti-fraud Action
06/28/2012 CFTC Obtains Default Judgment against The Trade Tech Institute, Inc., Technology Trading International, Inc., and Robert Sorchini for Fraudulent Solicitation of Managed Commodity Trading Accounts and Obtains Consent Judgment against Richard Carter as Cont
- Order: The Trade Tech Institute Inc., et al.
- Order: The Trade Tech Institute, Inc., et al.
- CFTC and State of California Charge The Trade Tech Institute, Inc., Technology Trading International, Inc., Robert Sorchini and Richard Carter with Fraudulently Soliciting More than 600 Managed Commodity Trading Accounts
- Order: Barclays PLC, et al.
- Statement Regarding CFTC Charges Against Barclays PLC, Barclays Bank PLC and Barclays Capital Inc.
06/21/2012 Federal Court in Texas Orders Linda Harris, Chance Harris, CDH Forex Investments, LLC, and CDH Global Holdings, LLC, to Pay over $5.4 Million in Restitution and a Monetary Sanction for Forex Fraud
- Order: CFTC v. CDH Forex Investments, et al
- CFTC Charges Texas Residents Linda Harris, Chance Harris and Two of Their Companies with Solicitation Fraud, Misrepresentation, and Misappropriation in Multi-Million Dollar Forex Scheme
06/13/2012 CFTC Settles Charges against Defendant Robert Mihailovich, Jr. for Making False Statements to the CFTC
06/07/2012 CFTC Charges Jose S. Rubio and his Florida firm, Rubio Wealth Management, LLC, with Commodity Pool Fraud
06/07/2012 CFTC Orders Futures Commission Merchant Open E Cry, LLC to Pay $250,000 to Settle Failure to Supervise Charges
06/06/2012 CFTC Charges Ronnie Gene Wilson of South Carolina and His Company, Atlantic Bullion & Coin, Inc., with Operating a $90 Million Silver Bullion Ponzi Scheme
06/06/2012 CFTC Orders Nevada Resident Luis Salazar-Correa and His Company, Prosperity Team, LLC, to Pay More than $2.6 Million to Settle CFTC Anti-fraud Forex Action
06/05/2012 CFTC Orders Morgan Stanley & Co. LLC to Pay $5 Million Civil Monetary Penalty for Unlawful Noncompetitive Trades
05/31/2012 Federal Court in Georgia Orders over $10 Million in Sanctions against Defendant Eldon A. Gresham in Forex Ponzi Scheme
- Summary Judgment Order: Relief Defendants Werner H. Beiersdoerfer and Interveston Wines, LLC
- Final Order: Eldon A. Gresham
- Summary Judgment Order: Eldon A. Gresham
05/25/2012 CFTC Charges CTI Group, LLC, Cooper Trading, Stephen Craig Symons, and James David Kline, all of California, with an $11 Million Fraud in the Sale of Automated Trading Systems
05/25/2012 CFTC Charges Washington, DC, Resident Marina Bühler-Miko and Her Company, Coventry Asset Managers, LLC, with Operating Fraudulent Forex Scheme
05/24/2012 CFTC Charges Chicago-based Trader Bradley Schiller with $7.8 Million Commodity Fraud
05/23/2012 Federal Court in New York Orders Chicago Resident and Former Floor Broker, Kent R.E. Whitney, to Pay $600,000 for Margin Call Avoidance Scheme
05/16/2012 Federal Court in South Carolina Orders Ronald E. Satterfield and Nicholas and Patricia Bos to Pay over $7.5 Million for Fraud in Connection with a Forex Ponzi Scheme
- Order: Nicholas and Patricia L. Bos
- Order: Graham Street Forex Group, LLC et al.
- Order: Ronald E. Satterfield, et al.
05/11/2012 CFTC Charges Michael J. Leighton of Torrance, Calif., with $1.6 Million Commodity Pool Fraud
05/09/2012 CFTC Charges New York Firm Madison Dean, Inc., and its Principals, George Athanasatos and Laurence Dodge, with Forex Fraud
05/08/2012 CFTC Obtains Default Judgment against Former Florida Resident Juvenal E. Machado and His Company, Invers Forex, LLC, for Off-Exchange Forex Scam
05/03/2012 Federal Court in New York Orders Thomas Qualls and His Company, International Foreign Currency, to Pay More than $4.6 Million in Restitution and Penalties in Connection with Off-Exchange Forex Futures Fraud
- Memo: International Foreign Currency, Inc., et al.
- Order: International Foreign Currency, Inc., et al.
05/03/2012 CFTC Charges Illinois Resident Dimitry Vishnevetsky and His Company, Oxford Capital, LLC, with Commodity Pool Fraud
05/01/2012 Federal Court in Illinois Orders Trading Point of Financial Instruments Ltd. to Pay $140,000 Penalty for Acting as Unregistered Retail Forex Dealer
05/01/2012 CFTC Charges Sidney J. Charles, Jr. and his Maryland-based Company, The Borrowing Station, LLC, in Forex Ponzi Scheme
04/26/2012 Federal Court Enters Order Settling CFTC $85 Million Forex Fraud Action against California Resident Peter Son and his Companies SNC Asset Management, Inc. and SNC Investments, Inc.
04/26/2012 CFTC Orders Texas-based PassThrough Investments, LLC, and its Principals, Stephen Brantley and Dwayne Bryant Dawson, to Pay over $1.1 Million in Sanctions to Settle CFTC Charges of Fraud in Operating a Forex Trading Pool
04/26/2012 CFTC Settles Action against Florida Resident Ghassan Tawachi for Fraud and Misappropriation
04/25/2012 CFTC Charges Georgia Resident Robert A. Christy and His Company Crabapple Capital Group LLC with Foreign Currency Fraud and Misappropriation
04/23/2012 Federal Court in California Orders Forex Liquidity LLC to Pay $400,000 for Failing to Maintain Required Net Capital and Books and Records
04/19/2012 Federal Court Orders $14 Million in Fines and Disgorgement Stemming from CFTC Charges against Optiver and Others for Manipulation of NYMEX Crude Oil, Heating Oil, and Gasoline Futures Contracts and Making False Statements
04/18/2012 Federal Court Orders Colorado Defendants Flint-McClung Capital LLC and Shawon McClung to Pay over $6 Million in CFTC Action Charging Them with Running Forex Ponzi Scheme
04/18/2012 Virginia Federal Court Orders Ronald W. Smith, Jr., Doing Business as Safeguard 3030 Investment Club, to Pay More than $3 Million in Forex Ponzi Scheme
04/13/2012 CFTC Revokes Registration of Robert Wayne Mansell
04/12/2012 CFTC Orders Rosenthal Collins Group, LLC, a Registered Futures Commission Merchant, to Pay More than $2.5 Million for Supervision and Record-Production Violations
04/12/2012 CFTC Charges Brad Lee Demuzio of Idaho and his Company, Demuzio Capital Management, with Operating a Fraudulent $1.8 Million Commodity Pool and Forex Ponzi Scheme
04/09/2012 Federal Court in Texas Orders Total Call Group, Inc. and its Principals to Pay over $4.8 Million in Fines for Making False Representations and Issuing False Account Statements in Forex Fraud
04/04/2012 CFTC Orders JPMorgan Chase Bank, N.A. to Pay a $20 Million Civil Monetary Penalty to Settle CFTC Charges of Unlawfully Handling Customer Segregated Funds
04/02/2012 CFTC Charges Royal Bank of Canada with Multi-Hundred Million Dollar Wash Sale Scheme
03/28/2012 CFTC Seeks to Revoke the Registrations of Illinois Resident Joseph A. Dawson and His Company, Strategic Research LLC
03/26/2012 Federal Court in Puerto Rico Orders Angel F. Collazo and ACJ Capital, Inc. to Pay over $3.7 Million for Solicitation Fraud and Issuing False Statements in an Off-Exchange Foreign Currency Scheme
03/21/2012 CFTC Revokes Registrations of Richard Allan Finger, Jr. and his Company, Black Diamond Futures, LLC Based on Criminal Action
03/20/2012 CFTC Charges Florida Resident Abraham Gutterman and His Companies, Alliance Capital Metals LLC and AR Goldman Wealth Management, LLC with Commodity Gold and Oil Options Fraud and Misappropriation
03/14/2012 CFTC Charges Joseph F. Welsh III, Former MF Global Broker, with Attempted Manipulation of Palladium and Platinum Futures Prices
03/13/2012 CFTC Charges Arjent Capital Markets LLC, Chicago Trading Managers LLC, Spencer Montgomery, and Brian Reynolds with Commodity Pool Fraud
03/13/2012 CFTC Orders Goldman Sachs Execution & Clearing, L.P., a Registered Futures Commission Merchant, to Pay $7 Million for Supervision Failures in Handling Accounts it Carried
03/13/2012 CFTC Orders Chicago Futures Commission Merchant FCStone, LLC and New York Introducing Broker Commodity Operations Inc. to Pay $260,000 for Supervision Violations
03/13/2012 CFTC Charges MBF Clearing Corp. with Violations of Customer Fund Segregation Requirements
03/12/2012 CFTC Charges Florida Firm Angus Jackson, Inc. and its CFO Martin H. Bedick with Making False, Fictitious, or Fraudulent Statements to the NFA
03/12/2012 Federal Court in Illinois Orders City Credit Capital, (UK) Ltd. to Pay $140,000 Civil Monetary Penalty for Acting as Unregistered Retail Forex Dealer
03/09/2012 CFTC Charges Illinois Resident Christopher Varlesi with Commodity Pool Fraud, Misappropriation, False Statements, and Failure to Register
03/08/2012 J.P. Morgan Securities LLC Agrees to Pay $140,000 Penalty for Confirming the Execution of a Prearranged Trade on the CBOT
03/08/2012 BlackRock Institutional Trust Co. NA Agrees to Pay $250,000 Penalty to Settle Charges of Prearranged Trading and Fictitious Sales on the CBOT
03/07/2012 Federal Court in Illinois Orders Windsor Brokers, Ltd. of Cyprus to Pay $140,000 Civil Monetary Penalty, Cease Soliciting U.S. Customers, and Modify Website
03/07/2012 CFTC Charges Alabama Resident John David Stroud and His Companies with Commodity Pool Fraud and Misappropriation
02/29/2012 Federal Court in Illinois Orders Australian Firm Enfinium Pty Ltd to Pay $80,000 Penalty, Cease Soliciting U.S. Customers, and Modify Website
02/28/2012 CFTC Charges IAG Capital Management, LLC and William Patrick Kelly, of Conn., with Commodity Pool Fraud, Commingling Pool Funds, and Making False Statements to the NFA
02/27/2012 CFTC Charges Alexander Giap of Annandale, Va., with Fraud by an Unregistered Commodity Trading Advisor
02/27/2012 CFTC Orders James G. Brandolino to Pay $1 Million Penalty to Settle CFTC Charges of Commodity Futures Fraud
02/27/2012 Federal Court in Illinois Orders Former Futures Trader David Sklena to Pay over $6.6 Million for Cheating Customers
02/23/2012 CFTC Orders Iowa Resident Jeffrey J. Kinseth and His Company, Virtual Vision Inc., to Pay More than $1 Million in Restitution and Penalties in Fraud Action
02/22/2012 CFTC Orders New York Firm D.E. Shaw & Co. L.P. to Pay $140,000 Penalty for Violating Soybean and Corn Futures Speculative Position Limits
02/22/2012 CFTC Settles Action against Aaron Klein for Failing to Disclose He Was a Registrant’s Principal
02/17/2012 CFTC Charges Mitchell Brian Huffman of North Carolina with Operating a Fraudulent $3.2 Million Commodity Pool Scheme
02/16/2012 Federal Court Orders Texas Resident Robert D. Watson to Pay $31 Million for Defrauding Customers, Misappropriating Millions of Dollars, and Providing Fictitious Records in Forex Scheme
- Consent Order: Daniel Petroski
- Consent Order: PrivateFX Global One Ltd., SA, et al.
- Order: PrivateFX Global One Ltd., SA, et al.
- Order: ACJ Capital, Inc., et al.
- Complaint: CFTC v. Solid View Capital LLC et al
- Order: CFTC v. Solid View Capital LLC et al
02/09/2012 CFTC Obtains Permanent Injunction against British Virgin Island Firm InterForex, Inc. for Acting as an Unregistered Retail Forex Dealer; Firm Ordered to Modify Website
02/08/2012 CFTC Charges Texas Resident Christopher B. Cornett in Foreign Currency Fraud Action
02/02/2012 Arizona Federal Court Orders Anthony Eugene Linton to Pay More Than $1.7 Million for Operating Ponzi Scheme
01/31/2012 CFTC Issues Consumer Advisory Alerting Public to Possible Precious Metals Fraud
01/23/2012 CFTC Orders Conn. Resident Timothy Michael Murphy and His Company, Centurion Global Capital Management LLC, to Pay $360,000 for Commodity Pool Solicitation Fraud
01/12/2012 CFTC Files Enforcement Action against Two Indian Citizens for Allegedly Engaging in an Illegal Trading Scheme
01/09/2012 CFTC Orders Newedge USA, LLC, a Registered Futures Commission Merchant, to Pay $700,000 for Submitting Inaccurate Large Trader Reports to the CFTC and for Violating a Prior CFTC Order
01/05/2012 Federal Court Orders CFTC Defendant Larry Benny Groover to Pay $2.69 Million for Defrauding Customers in Forex Ponzi Scheme
01/05/2012 Illinois Federal Court Imposes $140,000 Civil Monetary Penalty on Foreign Currency Firm, FXOpen Investments Inc., for Acting as an Unregistered Retail Foreign Exchange Dealer
May 24, 2012
CFTC Staff to Host a Public Roundtable to Discuss the Proposed Volcker Rule Washington, DC – The Commodity Futures Trading Commission (CFTC) today announced that staff will hold a public roundtable on Thursday, May 31, 2012, from 9:30 a.m. to 4:30 p.m., to discuss the proposed regulations to implement Section 619 (commonly known as the Volcker Rule) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 619 contains certain prohibitions and restrictions on the ability of banking entities to engage in proprietary trading and to have certain interests in, or relationships with, a hedge fund or private equity fund.
The roundtable will consist of two panels that are composed of a variety of market participants and members of the public. The first panel, starting at 9:30 a.m., will discuss the various hedging provisions and requirements of the CFTC’s proposed Volcker Rule. The second panel will start at 2:00 p.m., and discuss the market-making sections of the CFTC’s proposed Volcker Rule. The roundtable will help the Commission by providing additional public input for the final rulemaking.
Agenda for the Public Roundtable Discussion:
9:30 a.m.
Introduction
Section 619 of the Dodd-Frank Act: Prohibitions on Proprietary Trading and Certain Relationships with Hedge Funds and Private Equity Funds.
CFTC Notice of Proposed Rulemaking (77 FR 8332)
9:45 a.m.
Panel One: Hedging
11:15 a.m.
Intermission (15 minutes)
12:45 p.m.
Lunch
2:00 p.m.
Panel Two: Market-Making
3:15 p.m.
Intermission (15 minutes)
4:30 p.m.
Concluding Remarks
The roundtable will be held in the Conference Center at the CFTC’s Headquarters at Three Lafayette Centre, 1155 21st Street, NW, Washington, DC, 20581. The discussion will be open to the public. Members of the public may also listen by telephone and should be prepared to provide their first name, last name and affiliation.
Listening information for the roundtable:
• US Toll-Free: 1-866-844-9416
• International Toll: see related links
• Passcode: CFTC
A transcript of the roundtable discussion will be published on the Commission’s website: www.cftc.gov.
Members of the public wishing to submit their views on the topics addressed at the roundtable may do so via:
• Paper submission to David Stawick, Secretary, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street, NW, Washington, DC 20581; or
• Electronic submission by visiting http://comments.cftc.gov and following the instructions for submitting comments through the Commission’s website.
All comments must be identified by RIN number 3038-AD05. All submissions provided to the CFTC in any electronic form or on paper may be published on the Commission’s website, without review and without removal of personally identifying information.
Last Updated: May 31, 2012
After Delay and Debate, Regulators Support New Rule
By BEN PROTESS Legal/Regulatory June 29, 2012, 6:13 pm
Regulators agreed to support a draft proposal to regulate overseas derivatives trading, a move that comes just days after internal wrangling delayed the plan and prompted several last-minute changes.
The Commodity Futures Trading Commission announced on Friday that its five members voted unanimously to support the rule, which would apply new derivatives rules not only to banks in the United States, but also to American banks that have foreign units. The rules, which impose capital standards and other new oversight measures, would also affect foreign banks that conduct significant derivatives trading in the United States.
The overhaul gained new focus after JPMorgan’s multibillion-dollar trading loss in London.
“The recent events of JPMorgan Chase, where it executed swaps through its London branch, are a stark reminder of this reality of modern finance,” Gary Gensler, the agency’s chairman, said in a statement.
The proposal now enters a public comment period, after which the agency will vote to complete the plan.
The vote, which occurred behind the scenes over the last several days, was initially scheduled for a public meeting last week. But as commissioners staged an 11th-hour debate over the fine print of the proposal, the agency canceled the meeting only hours before it was scheduled to start. The agency provided no explanation, sending out a cryptic e-mail that it would “no longer hold a scheduled meeting on June 21, 2012.”
The final negotiations, occurring between Mr. Gensler and one of his fellow Democratic commissioners, yielded a more flexible proposal that gives Wall Street additional time to comply.
The tweaks put the proposal back on track. Even the agency’s two Republican members signed on, at least for now. Both Republicans, however, issued concurring opinions that spelled out concerns about the scope of the plan.
Scott O’Malia, one of the Republican members, stated “strong reservations about the statutory authority” of the proposal and expressed concern about “the commission’s decision to issue interpretive guidance instead of a formal rule-making.”
Bart Chilton, a Democratic member of the commission who supported the earlier and tougher version of the proposal, praised the agency’s effort.
“This is about a balanced and thoughtful approach — a planetary patchwork of harmonized financial and markets rules of the road,” he said in a statement
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