CFTC creates separate account class for customer positions in cleared OTC derivatives
Felix Shipkevich - March 31, 2010The CFTC approved final rules that aim to enhance certainty regarding protections under the Bankruptcy Code and CFTC regulation Part 190 with respect to OTC derivatives that customers clear through a futures commission merchant.
Revised financial requirements for FCMs and IBs
Felix Shipkevich - March 31, 2010The CFTC’s revised financial requirements for FCMs and IBs and NFA’s amendments to NFA Financial Requirements Section 1 are effective as of March 31, 2010.
CFTC ACTION: Tower Analysis Inc. et al.
Felix Shipkevich - March 29, 2010The CFTC obtained more than $4.6 million in disgorgement and civil monetary penalties in a court order settling CFTC charges filed on March 11, 2009, against defendants John M. Donnelly, Tower Analysis Inc., Nasco Tang Corp. and Nadia Capital Corp., all of Charlottesville, Va., and relief defendants Blue Logic Operating Partners LP, Nadia Capital Operating Partners LP and Deborah B. Donnelly.
The CFTC charged the [...]
CFTC ACTION: Money Market Alternative, LP
Felix Shipkevich - March 29, 2010The CFTC charged Enrique F. Villalba, Jr. and his firm, Money Market Alternative, LP (MMA), an Ohio company, with operating a multi-million dollar commodity futures Ponzi scheme.
NFA grants conditional registration despite omissions
Felix Shipkevich - March 29, 2010On the basis of the consent evidenced by the Offer, and without any adjudication on the merits, the Subcommittee orders that Rischall’s floor broker/floor trader registration be hereby granted subject to five conditions.
CFTC ACTION: Lake Dow Capital, LLC
Felix Shipkevich - March 25, 2010The CFTC obtained more than $4 million in restitution and civil monetary penalties in an order entered by the U.S. District Court for the Northern Division of Georgia against defendants Lake Dow Capital, LLC and Ty Edwards in CFTC v. Lake Dow, LLC, et al., a CFTC enforcement action filed in October 2005.
The CFTC’s complaint charged Lake Dow [...]
NFA denies registration on account of willful omission
Felix Shipkevich - March 25, 2010On December 26, 2008, Chris Cameron filed an application to become registered with the Commodity Futures Trading Commission as a Floor Trader. On September 16, 2009, the NFA issued a Notice of Intent to Deny Registration to Cameron. The Notice alleged that on June 15, 2005, Cameron pled nolo contendere to the felony offense of [...]
CFTC ACTION: Guardian Futures, Inc.
Felix Shipkevich - March 24, 2010The CFTC obtained $260,000 in civil monetary penalties and equitable relief in separate federal judgment orders against Steven Leigh Shakespeare and his company, Guardian Futures, Inc., an Austin, Texas introducing broker, in a CFTC anti-fraud action.
NFA ACTION: Torc Investment and Research LLC
Felix Shipkevich - March 24, 2010On December 9, 2009, this NFA issued a Complaint against Torc Investment and Research LLC, an independent introducing broker Member of NFA and a registered broker-dealer, located in New York City. The Complaint alleged that Torc failed to file its December 31, 2007, June 30, 2008 and June 30, 2009 unaudited semi annual financial statements [...]
NFA ACTION: GFS Forex & Futures Inc.
Felix Shipkevich - March 24, 2010The Complaint alleged that GFS failed to provide the NFA with a copy of a notice of bulk liquidation and transfer of customer accounts before it was posted on GFS’s website, in violation of NFA Compliance Rule 2-40.
