CFTC penalizes Société Générale $450K for failure to report FX swap trades on time LeapRate

December 07, 2016 BY admin

CFTC penalizes Société Générale $450K for failure to report FX swap trades on time

The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against Societe Generale SA (EPA: GLE) for failing to properly report certain non-deliverable forward transactions to a swap data repository (SDR), and failing to timely report to an SDR a large number of FX swap, FX forward, and non-deliverable forward…

December 06, 2016 BY admin

FINRA fines Credit Suisse $16.5 million for AML deficiencies

The U.S. based regulator Financial Industry Regulatory Authority (FINRA) announced today that it has fined Credit Suisse Securities (USA) LLC $16.5 million for anti-money laundering (AML), supervision and other violations. The regulator just last week, sanctioned Merrill Lynch $7 million for inadequate supervision of leverage in customer brokerage accounts. In this case, FINRA found that Credit…

November 04, 2016 BY admin

NFA orders London based The Cambridge Strategy Asset Management to pay $60,000 fine

National Futures Association (NFA) has ordered The Cambridge Strategy Asset Management Limited (Cambridge), an NFA Member commodity pool operator (CPO) and commodity trading advisor (CTA) located in London, England, to pay a $60,000 fine. The Decision, issued by NFA's Business Conduct Committee (BCC), is based on a Complaint authorized by the BCC on August 23,…

August 05, 2016 BY Mike Fox

CFTC fines and bans Georgia man over $900k for fraudulent trading pool

The U.S. Commodity Futures Trading Commission (CFTC) obtained a federal court Consent Order imposing a permanent injunction against Defendants Hendrik A. Van Beuningen and his company, DeBrink Trading Fund I, LLC, and requiring them to pay a $430,000 civil monetary penalty and restitution of $480,000 to defrauded pool participants. The Court’s Order against the Defendants…

August 04, 2016 BY Mike Fox

CFTC orders Barclays to pay $800,000 for supervision failures

The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against Barclays Capital, Inc. (Barclays), a Connecticut corporation headquartered in New York City which operates as a subsidiary of Barclays Group US, Inc, for failing to diligently supervise its officers’, employees’, and agents’ processing of exchange and clearing fees it…

July 29, 2016 BY Mike Fox

CFTC issues over $4 million penalty on binary brokers Vault Options and Global Trader 365

The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge John Z. Lee of the U.S. District Court for the Northern District of Illinois entered an Order of Final Judgment by Default (Order) that requires Defendants Vault Options, Ltd. (Vault) and Global Trader 365 (GT 365), two Israeli web-based binary options firms, to jointly…

June 02, 2016 BY Mike Fox

E-Trade fined by FINRA $900K for best execution and client order information violations

The Financial Industry Regulatory Authority (FINRA) announced today that it has censured and fined E*TRADE Financial Corp (NASDAQ: ETFC) $900,000 for failing to conduct an adequate review of the quality of execution of its customers’ orders and for supervisory deficiencies concerning the protection of customer order information. E*Trade provides online securities investing and trading services for…

September 08, 2015 BY Mike Fox

Tag: fine