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.
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 [...]
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
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.
CFTC ACTION: CMA Capital Management, LLC
Felix Shipkevich - April 12, 2010The CFTC charged Claudio Aliaga and his company, CMA Capital Management, LLC, of Miami Lakes, Fla., with operating a Ponzi scheme involving the fraudulent solicitation of at least $4.5 million from at least 125 individuals to invest in foreign currency managed accounts and/or a pooled investment.
The complaint filed on April 6, 2010 names as relief [...]
CFTC ACTION: CSA Trading Group, Inc.
Felix Shipkevich - April 7, 2010The CFTC obtained more than $3.9 million in restitution and civil monetary penalties in a federal judgment order against CSA Trading Group, Inc. andMichael Derrick Peninger, both of Charleston, S.C., in a CFTC anti-fraud action.
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.
