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21952 News Results

Smart Regulatory Reform and the Perils of High-Frequency Regulation -- Remarks by CFTC Commissioner Scott D. O’Malia at MarkitSERV’s 2012 Outlook for OTC Markets

In his May 31 st speech, entitled "Smart Regulatory Reform and the Perils of High-Frequency Regulation," CFTC Commissioner Scott O'Malia addressed the following three topics: The process by which the Commission is implementing its final rules, emphasizing the importance of "smart regulatory reform. The extraterritorial application of the Dodd-Frank Act. A prediction of the Commission's next areas of focus, including: (1) the definition of a "swap"; (2) cross-border guidance; (3) mandatory clearing determinations; and (4) a final implementation timetable for clearing. View speech in full here

SEC Approves Proposals to Address Extraordinary Volatility in Individual Stocks and Broader Stock Market

The SEC has approved two proposals submitted by the national securities exchanges and the FINRA that are designed to address extraordinary volatility in individual securities and the broader U.S. stock market. The exchanges and FINRA will implement these changes by February 4, 2013. On Thursday, the SEC approved both proposals for a one-year pilot period, during which the exchanges, FINRA, and the SEC will assess their operation and consider whether any modifications are appropriate. Under the new plan all trading centers, including exchanges, automated trading venues, and broker-dealers

Federal Court in Georgia Orders over $10 Million in Sanctions against Defendant Eldon A. Gresham in Forex Ponzi Scheme (CFTC Press Release)

The CFTC obtained federal court summary judgment orders resolving its claims against defendant Eldon A. Gresham (aka Eldon A. Gresham, Jr.) doing business as The Gresham Company (Gresham) of Peachtree City, Ga., and relief defendants Werner H. Beiersdoerfer (Beiersdoefer) and his company, Interveston Wines, LLC (Interveston), both of Calera, Ala. Relief defendants Werner H. Beiersdoerfer and Interveston Wines, LLC ordered to pay an additional $5 million in relief. View press release in full here(links externally to CFTC website).

CFTC Files a General Creditor Claim in the Liquidation of MF Global

Today the CFTC filed a general creditor claim in the liquidation of MF Global. The Commission took this action in relation to the Division of enforcement’s ongoing investigation related to the failure of MF Global. View press release in full here(links externally to CFTC website).