NFA questioned the rationale and benefits of proposed changes in a CFTC proposal to increase the disclosure requirements for commodity pools and managed account programs operated by registered commodity pool operators and commodity trading advisors.
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A French swap dealer and its former employee settled CFTC charges for mismarking swap positions to inflate profits and minimize losses or to "smooth out returns."
NFA proposed amendments to provide additional guidance on performance reporting and disclosure for commodity pool operators and commodity trading advisors.
A former managing director of a bank agreed to pay $350,000 to settle CFTC charges for illegally "mismarking" swap valuations in an effort to hide significant trading losses. According to the CFTC Order, the former managing director mismarked the valuations of swap instruments in an attempt to cover up significant trading losses incurred by entering false "end-of-day" marks into an internal bank spreadsheet utilized for internal asset valuations. In connection with this action, the CFTC Division of Enforcement closed its investigation. The CFTC noted that its decision to terminate the
The CFTC Division of Swap Dealer and Intermediary Oversight granted exemptive relief to a commodity pool operator from the requirement to deliver quarterly account statements to pool participants within 30 days of each quarter.