The Commodity Futures Trading Commission obtained orders from a federal court in New York concluding its first-filed enforcement action against persons for bitcoin fraud. However, the outcome of an unrelated action having...more
10/22/2018
/ Algorithmic Trading ,
Bitcoin ,
CFTC ,
Corporate Fines ,
Cryptocurrency ,
Cyber Attacks ,
Dodd-Frank ,
Enforcement Actions ,
Fraud ,
Internal Controls ,
Regulation AT ,
Restitution ,
Suspicious Activity Reports (SARs)
A trader who was summarily banned in August 2016 from all CME Group exchanges for 60 days on an emergency basis agreed to pay a fine and be banned for an additional 45 days to resolve disciplinary charges that he purportedly...more
Two trading firms within a group structure were fined US $2 million in aggregate by the Commodity Futures Trading Commission for alleged violations of various provisions of law and CFTC rules related to their cotton futures...more
CME Group announced today that Saxo Bank A/S, a member firm, agreed to pay an aggregate fine of US $190,000 to the Chicago Board of Trade and the Chicago Mercantile Exchange to resolve two disciplinary actions against it for...more
On November 4, the Commodity Futures Trading Commission (CFTC) approved for publication in the Federal Register a supplemental proposal (the "Supplemental Proposal") to Regulation Automated Trading ("Regulation AT"). The...more
Proposed Regulation AT Amended by CFTC; Attempts to Reduce Universe of Most Affected to No More Than 120 Persons -
On Friday, the Commodity Futures Trading Commission issued a supplemental notice of proposed rulemaking...more
Broker-Dealer Sanctioned US $415 Million by SEC for Violating Customer Protection Requirements:
Two Merrill Lynch entities agreed to pay sanctions of US $415 million to resolve charges brought by the Securities and...more
6/28/2016
/ Algorithmic Trading ,
Bank of America ,
Block Trades ,
CFTC ,
Chicago Mercantile Exchange (CME) ,
Customer Protection Rule ,
Enforcement Actions ,
Form PQR ,
Hackers ,
Market Manipulation ,
Merrill Lynch ,
Regulation AT ,
Subpoenas ,
UK Brexit ,
Wash Sale Rules
CFTC Hosts Regulation AT Roundtable; Chairman Implies Risk Rules Sufficient for 2016:
Staff of the Commodity Futures Trading Commission sponsored a roundtable on proposed Regulation Automated Trading last Friday. The...more
6/13/2016
/ Algorithmic Trading ,
Block Trades ,
EFRP ,
Enforcement Actions ,
Expungement ,
MiFID II ,
Oppenheimer & Co. ,
Registration Requirement ,
Regulation AT ,
SWIFT ,
UBS
The Commodity Futures Trading Commission announced last week that staff will host a public roundtable to discuss five aspects of Regulation Automated Trading, initially proposed in November 2015....more
Alleged Spoofer, Blamed for Partly Causing Flash Crash, Loses UK Extradition Hearing -
Navinder Sarao, the London-based futures trader who in April 2015 was sued by the Commodity Futures Trading Commission and criminally...more
3/29/2016
/ Algorithmic Trading ,
AML/CFT ,
CFTC ,
Cyber Attacks ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Extradition ,
Foreign Nationals ,
Indictments ,
Prudential Regulation Authority (PRA) ,
Settlement Agreements ,
Spoofing ,
UK
Industry Comments to Regulation AT Argue CFTC Proposed Rules Too Prescriptive; Registration and Source Code Requirements Particularly Objectionable -
After declining multiple requests to extend the comment period that...more
3/22/2016
/ Algorithmic Trading ,
Capital Requirements ,
Central Counterparties ,
Comment Period ,
CPO ,
Derivatives Clearing Organizations ,
Designated Contract Markets (DCMs) ,
Enforcement Actions ,
EU ,
Forex ,
Major Swap Participants ,
NFA ,
Recordkeeping Requirements ,
Serious Fraud Office (SFO) ,
Swap Dealers ,
UK
On November 25, 2015, the Commodity Futures Trading Commission (the "Commission" or the CFTC) proposed a comprehensive set of new rules ("Regulation AT") that, if adopted, potentially would impose many new obligations on most...more
CFTC Brings First Insider Trading-Type Enforcement Action Based on New Anti-Manipulation Authority:
Last week the Commodity Futures Trading Commission brought and settled its first enforcement action sounding in the...more
12/8/2015
/ Algorithmic Trading ,
Anti-Money Laundering ,
Barclays ,
Bitcoin ,
CFTC ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Flash Boys ,
Insider Trading ,
Interest Rate Swaps ,
Ponzi Scheme ,
Spoofing ,
UK
Last week, the Commodity Futures Trading Commission proposed a comprehensive set of new rules that, if adopted, potentially would impose many new obligations on certain CFTC registrants that use algorithmic trading systems to...more
CFTC Says Virtual Currencies Are a “Commodity” Under Federal Law, Files Charges Against Coinflip for Operating an Unregistered Bitcoin Options Trading Platform -
The Commodity Futures Trading Commission filed and...more
9/22/2015
/ Algorithmic Trading ,
Australia ,
Basel III ,
Bitcoin ,
Block Trades ,
C-Suite Executives ,
Canada ,
Cease and Desist Orders ,
CEOs ,
CFTC ,
Chicago Mercantile Exchange (CME) ,
Commodities ,
Criminal Prosecution ,
Cybersecurity ,
Derivatives ,
Designated Contract Markets (DCMs) ,
Enforcement Actions ,
FDIC ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Industry Examinations ,
Layering ,
Liquidity Risk Management Rule ,
Reporting Requirements ,
Sanctions ,
Securities and Exchange Commission (SEC) ,
SEFs ,
Spoofing ,
Swap Dealers
CME Group Summarily Suspends Trading Privileges of Two Traders Without Hearing for Alleged Spoofing and Non-Cooperation -
Less than two weeks after civil and criminal charges were filed by the Commodity Futures Trading...more
5/5/2015
/ Algorithmic Trading ,
Capital Markets ,
CFTC ,
Chicago Mercantile Exchange (CME) ,
Code of Conduct ,
Counterparties ,
Cybersecurity ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Financial Institutions ,
Flash Boys ,
Futures Commission Merchants (FCMs) ,
Investment Adviser ,
Non-US Entities ,
Securities and Exchange Commission (SEC) ,
Security-Based Swaps ,
Spoofing ,
Suspensions & Debarments
IOSCO Seeks Views on Business Continuity and Recovery Planning by Trading Venues and Intermediaries; NYS Warns on Third-Party Service Providers -
The International Organization of Securities Commissions issued two...more
4/14/2015
/ Algorithmic Trading ,
Banking Sector ,
Clearing Members ,
CPOs ,
Cybersecurity ,
Financial Institutions ,
Futures Commission Merchants (FCMs) ,
Investment Funds ,
IOSCO ,
Kraft ,
Ponzi Scheme ,
Price Manipulation ,
Securities and Exchange Commission (SEC) ,
Third-Party Risk ,
Third-Party Service Provider
ICE Futures Fined US $3 Million by CFTC for Reporting Errors and Untimely Response to Inquiries -
The Commodity Futures Trading Commission fined ICE Futures U.S., Inc. US $3 million last week for filing allegedly...more
3/24/2015
/ Algorithmic Trading ,
Broker-Dealer ,
Bureau of Industry and Security (BIS) ,
Capital Markets ,
CFTC ,
Enforcement Actions ,
Futures ,
Hong Kong ,
Investment Funds ,
IOSCO ,
Shanghai Futures Exchange