The CFTC Division of Swap Dealer and Intermediary Oversight granted no-action relief allowing swap dealers to permit certain amendments to "legacy swaps" without causing them to lose their legacy status under uncleared swaps margin requirements.
A broker-dealer agreed to settle FINRA charges for several rule violations, including conducting a securities business below its net capital requirements and failing to maintain blanket fidelity bond coverage.
A financial group agreed to pay a total of $10.5 million to settle separate SEC enforcement actions against two affiliated entities for supervisory and recordkeeping deficiencies and internal accounting control failures.
The National Futures Association charged a registered independent introducing broker with failing to maintain the required minimum adjusted net capital, file telegraphic notice of its capital deficiencies with the NFA in a timely manner and keep current books and records.
The Bank of New York Mellon Corporation agreed to pay a $6.6 million penalty to settle SEC allegations of reporting, recordkeeping and accounting failures based on a miscalculation of risk-based capital ratios and risk-weighted assets.
The NFA barred an introducing broker from membership permanently for failing to (i) maintain required minimum adjusted net capital, (ii) keep current and accurate books and records, and (iii) supervise its employees adequately.
The CFTC simultaneously filed and settled charges against a registered futures commission merchant for failing to report (i) a customer residual account deficiency and (ii) special account positions held by large traders.
The SEC charged four former clearing firm officials for their roles in a series of accounting and disclosure failures stemming from decisions to extend credit to certain customers beyond what is allowed under the margin requirements. The SEC alleged that the clearing broker-dealer provided...
The NFA permanently barred a financial firm, previously an NFA Member introducing broker, from NFA membership. The decision is based on a complaint authorized by the NFA's Business Conduct Committee that alleged, among other things, that the firm failed to keep accurate financial records, failed to...
NFA issued separate Complaints charging two NFA-registered introducing brokers with AML program violations and recordkeeping and capital minimum failures. NFA charged DMFiala LTD ("DMF") with failing to fully implement the firm's anti-money laundering ("AML") program, thereby violating NFA...