Futures broker and clearing firm R.J. O’Brien & Associates (RJO) will pay a total of $750,000 — via a $600,000 penalty to the CFTC and a $150,000 fine to the National Futures Association (NFA) — to settle charges that the firm failed to supervise staff members overseeing customer accounts and violated the terms of a… Read More >>
CFTC Focuses on Crypto Currency Listings
Earlier this week, the CFTC via its Division of Market Oversight (DMO) and Division of Clearing and Risk (DCR) released an advisory that sets up guidelines for CFTC-registered exchanges and clearinghouses registered that want to list virtual currency derivative products. But, before we dive into the new details, it’s useful to review what the CFTC… Read More >>
CFTC Launches Portal for Large Trader Reporting Program
The CFTC is hoping that it is dealing with “some industry concerns” with the launch of “an improved online filing portal” for industry participants that need to submit CFTC Form 40, known as the “Statement of Reporting Trader,” a key part of its large trader reporting program. “The CFTC operates a comprehensive system of collecting… Read More >>
Binary-Options Firms Fined $4.58M, Banned from Trading
Two web-based binary-options firms, Vault Options, Ltd. and Global Trader 365, have been hit with a $3 million civil monetary penalty, plus $1,587,731 in restitution, and have been banned from future trading, for defrauding their customers and violating the Commodity Exchange Act. The two companies, both based in Israel, apparently are no longer doing business… Read More >>
Commodity Pool Operator Gets 17 Years in Prison for Fraud Scheme
A commodity pool operator based in Florida got 17 years in prison after being convicted for running an investment fraud scheme that chocked up more than $13 million in losses for investors and uncovered excesses such as six-figure salaries and the use of private airplanes and luxury cars, according to government officials. The sentencing on… Read More >>
