The CFTC Division of Swap Dealer and Intermediary Oversight exempted a futures commission merchant from certain audited financial reports requirements.
An introducing broker and two principals settled charges for failing to detect post-execution trade allocation activity that favored the accounts of the commodity trading advisor and hurt its customers.
A futures commission merchant settled CFTC charges of failing to supervise an employee's handling of customer accounts and of failing to comply with a prior Order.
A registered futures commission merchant agreed to settle CFTC and National Futures Association charges relating to an unlawful post-execution allocation scheme.
The CFTC Division of Market Oversight extended previously issued relief to swap execution facilities from the requirement to capture post-execution information in their audit trail data.
The Board of the International Organization of Securities Commissions (IOSCO) issued a statement on research conducted by the IOSCO Task Force on OTC Derivatives Regulation concerning credit default swap auction processes and the functioning of the ISDA Credit Determinations Committees.
The National Futures Association levied a $1 million fine against a London-based commodity pool operator and commodity trading adviser for allowing prohibited loans, failing to disclose material information to pool participants, and other misconduct concerning its chief executive officer.
A broker-dealer subsidiary of a life insurance company agreed to pay a $1.75 million fine to settle charges that it had committed supervisory failures in connection with the sale of variable annuities. FINRA found that the subsidiary established a compensation scheme that exacerbated conflicts of interest.
The ISDA Credit Derivatives Determinations Committees ("DC") voted to adopt rules that will set globally consistent minimum standards for the iconduct of DC member firms. The new rules are intended primarily to standardize decision-making across events and to minimize conflicts of interest in the making of decisions.
The National Futures Association ("NFA") issued a notice to AlphaMetrix LLC ("AlphaMetrix"), a registered CPO, CTA and NFA Member, that the NFA has taken Member Responsibility Action against AlphaMetrix for violations of Compliance Rule 2-45 ("Prohibition of Loans by Commodity Pools to CPOs and...
The National Futures Association ("NFA") submitted its proposed amendment to Rule 2-45, as well as an interpretive notice to the CFTC. Prior to the proposed amendment, Rule 2-45 prohibited a commodity pool operator ("CPO") from permitting a commodity pool to make a direct or indirect loan or...
