CFTC ACTION: Morgan Stanley and UBS
Felix Shipkevich - April 29, 2010The CFTC announced the separate filings and simultaneous settlements of charges against Morgan Stanley Capital Group, Inc. and UBS Securities Inc. in connection with Morgan Stanley concealing from the New York Mercantile Exchange the existence of a large Trade at Settlement (TAS) block crude oil trade and UBS Securities aiding and abetting that concealment.
The CFTC [...]
CFTC ACTION: Moore Capital
Felix Shipkevich - April 29, 2010The CFTC order requires MCM, MCA and MA, all of whom are CFTC registrants, jointly and severally, to pay a $25 million civil monetary penalty and restricts their registrations as Commodity Pool Operators and/or Commodity Trading Advisors for three years.
MAS reviews the regulatory regime for financial intermediaries
Felix Shipkevich - April 27, 2010The Monetary Authority of Singapore is reviewing the regulatory regime for financial intermediaries conducting fund management activities and the exemption regime for financial intermediaries engaged in leveraged foreign exchange trading. A consultation paper has been issued to seek comments from the public on proposed enhancements and changes to the regulatory regime.
NFA ACTION: AVS Carter Financial, Inc.
Felix Shipkevich - April 27, 2010The NFA permanently barred AVS Carter Financial, Inc. from NFA membership. AVS Carter Financial is a Commodity Trading Advisor located in Chicago, Illinois.
CFTC ACTION: Carmine Garofalo
Felix Shipkevich - April 22, 2010The CFTC charged Carmine Garofalo, an Italian citizen, with options fraud, engaging in fictitious transactions and trading noncompetitively in violation of the Commodity Exchange Act and CFTC regulations. Garofalo has never been registered with the CFTC.
The CFTC complaint alleges that on March 5, 2010, Garofalo engaged in a series of unlawful commodity options transactions involving [...]
NFA ACTION: Windsor Wealth Management LLC
Felix Shipkevich - April 21, 2010The NFA issued a Complaint charging Windsor Wealth Management LLC with failing to list Anthony S. Bobba, formally principal of the Pioneer Commodities LLC, as a principal of Windsor.
Cantor movie futures clearinghouse approved
Felix Shipkevich - April 20, 2010The CFTC approved the applications of Cantor Futures Exchange, L.P. for designation as a contract market and Cantor Clearinghouse, L.P. to be registered as a derivatives clearing organization.
CFTC approves MDEX for designation as a contract market
Felix Shipkevich - April 16, 2010The CFTC has not approved the trading of any futures or options related to box office receipts at this time
NFA ACTION: Brewer Futures Group
Felix Shipkevich - April 15, 2010NFA issued a Complaint alleging that Brewer Futures Group failed to observe high standards of commercial honor and just and equitable principles of trade; failed to maintain required books and records; failed to maintain required capital; and failed to give notice.
CFTC ACTION: Kuen Cheol Song
Felix Shipkevich - April 12, 2010Kuen Cheol Song, a Singapore national, is charged with non-competitive trading at his employer’s expense.
