New York Attorney General Letitia James is no stranger to controversy and to major legal forays such as her recently proposed legislation, described as “the strongest and most comprehensive set of regulations” in the U.S. to govern cryptocurrency markets. The proposed legislation, the Crypto Regulation, Protection, Transparency & Oversight (CRPTO) Act, would give James more… Read More >>
Swap Dealer Fined $3M for Alleged Disclosure Failures
A London-based swap dealer, ED&F Man Capital Markets, Ltd. (ED&F Man) has reached a $3.25 million settlement with the Commodity Futures Trading Commission (CFTC) that ends a case involving charges of reporting woes, supervisory failures, and conflicts of interest that underscore the pitfalls securities firms face when trading via multiple jurisdictions. ED&F Man officials signed… Read More >>
Mizuho Capital Markets Fined for Alleged NFA Violations
Swap dealer Mizuho Capital Markets has paid a $900,000 fine for allegedly violating National Futures Association (NFA) requirements for margin collection, model monitoring and reporting related to uncleared swaps. In fact, NFA officials alleged that the New York-based firm did not satisfy requirements for initial and variation margin collection and did not properly supervise the… Read More >>
Broadridge Partners with StatPro for Performance Analytics
Broadridge Clients to Get Access to StatPro’s Cloud Post-trade systems and services provider Broadridge Financial Solutions reports a new strategic partnership with StatPro Group, a provider of cloud-based portfolio analytics and asset pricing services for the asset management industry. This partnership enhances the existing Broadridge performance reporting platform, which allows clients to receive customized daily… Read More >>
NFA Bars Fortune Trading Group & Fines Ironbeam $100K
The National Futures Association has permanently barred Chicago, Ill. guaranteed introducing broker (GIB) Fortune Trading Group, Inc. (FTG) from membership and from acting as a principal of an NFA Member. The NFA also ordered Chicago, Ill. futures commission merchant (FCM) Ironbeam, Inc., FTG’s guarantor, to pay a $100,000 fine. In addition, the NFA barred Jonathan… Read More >>
NFA Bars BCD Forex Investments
The National Futures Association (NFA) has permanently barred Glendale, Ariz. commodity trading advisor BCD Forex Investments from membership, and from acting as a principal of any NFA Member. An NFA hearing panel reached that decision based on a complaint authorized by NFA’s business conduct committee in September of last year. At a stroke, BCD lost… Read More >>
HTG Capital Buys Three of Kottke’s Businesses
HTG, Kottke to Form a ‘Strong Team’ HTG Capital Partners, a liquidity provider for listed and over-the-counter (OTC) derivatives instruments, is slated to acquire the introducing broker, money management and proprietary trading businesses of Kottke Associates, creating “a strong team” to take on the futures industry, say officials. HTG and Kottke Associates, which is a… Read More >>
NFA VP: Untangling Regulatory Overlap Could Take a Decade
It’s a mix of good and bad news for firms in the derivatives markets struggling to comply with overlapping demands made by multiple regulators. The good news is that regulators are aware of the problem, and are working to fix it. The bad news, according to Jamila Piracci, vice president of over-the-counter (OTC) derivatives for… Read More >>
