Accusations don’t equal proof of guilt. Lawyers for a certain much-indicted ex-president will tell you that. However, multiple accusations by credible accusers aren’t a particularly good look, whether for a politician or a registered futures commission merchant. Which brings us to Wedbush Securities. The Commodity Futures Trading Commission (CFTC) recently ordered Los Angeles-based Wedbush Securities… Read More >>
Carbon Markets Fraud Is On the CFTC’s Radar
Fraud in the burgeoning carbon credit markets is on the radar of the CFTC’s Whistleblower Office in the Division of Enforcement, which recently issued an alert asking the public to report potential Commodity Exchange Act (CEA) violations in this marketplace. The regulator notes that voluntary carbon markets “can support the transition to a low-carbon economy… Read More >>
SEC Wins Legal Battle to Protect Binance Clients
The United States District Court for the District of Columbia has granted the U.S. Securities and Exchange Commission “emergency relief” that applies to “all the defendants in its litigation against Binance Holdings Limited, BAM Management US Holdings Inc., BAM Trading Services Inc.,” and the order states that Binance platform customers “can continue to withdraw their… Read More >>
CFTC Blesses Clearing for Digital Asset Futures
Is there a lesson here for the crypto exchanges that are facing the wrath of the SEC? Digital asset clearing and settlement is a new reality for securities firms that want to keep clients happy. Toward that end, the CFTC approved Cboe Clear Digital to clear margined digital asset futures. Technically, the CFTC approved an… Read More >>
GOP Crypto Control Bill Aims for Clarity
Two key Republicans in the U.S. House of Representatives have drafted legislation that they say could help to end the confusion about cryptocurrencies and other digital assets and will set up “a functional framework” to clarify regulatory lines between the CFTC and the SEC. Patrick McHenry (NC-10), who is the chairman of the House Financial… Read More >>
Thai Exchange Trading System Uses Nasdaq Wares & Other News
SET Upgrades Core Platform The Stock Exchange of Thailand (SET) reports that it has launched a new trading platform that includes market data distribution and market surveillance systems — based on Nasdaq technology. “The new system implementation is an upgrade of the core operating system that is the heart of the Thai capital market, making… Read More >>
HSBC Pays $75M to Resolve Swaps Violations Charges
HSBC is writing checks to the CFTC totaling $75 million via the resolution of two of the regulator’s orders — one involving alleged swaps transaction violations and a $45 million penalty, and the other based on charges of recordkeeping and supervisory failures that incurred a $30 million penalty. The swaps order encompasses allegations that HSBC… Read More >>
Scotiabank & HSBC Fined for Recordkeeping & Phone Woes
Using a mobile phone can get pricey if you’re not careful. That’s a lesson two banks have learned the hard way, each paying multi-million dollar penalties for alleged “recordkeeping and supervision failures for widespread use of unapproved communication methods.” The U.S. Commodity Futures Trading Commission (CFTC) has filed and settled charges against the Bank of… Read More >>
Mizuho Capital Markets Settles CFTC Case for $6.8M
Mizuho Capital Markets (MCM) will pay more than $6.8 million to settle allegations brought by the Commodity Futures Trading Commission (CFTC) that the swap dealer mishandled key foreign exchange (FX) forward transactions and put its clients at a disadvantage, officials say. The CFTC order settles charges against the New York-based bank holding company and will… Read More >>
CFTC Approves 24th SEF & Other News
RTX Fintech & Research Launches a SEF Another swap execution facility (SEF) has gotten regulatory approval, raising the number of active SEFs to 24. The Commodity Futures Trading Commission last week issued an order of registration to RTX Fintech & Research LLC (RTX SEF) allowing RTX SEF to launch, according to the CFTC. The New York… Read More >>
