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 >>
NFA Bars Fortune Trading Group & Fines Ironbeam $100K
The National Futures Association has permanently barred Chicago, Ill. guaranteed introducing broker (GIB) Fortune Trading Group, Inc. (FTG) from membership and from acting as a principal of an NFA Member. The NFA also ordered Chicago, Ill. futures commission merchant (FCM) Ironbeam, Inc., FTG’s guarantor, to pay a $100,000 fine. In addition, the NFA barred Jonathan… Read More >>
NFA Bars BCD Forex Investments
The National Futures Association (NFA) has permanently barred Glendale, Ariz. commodity trading advisor BCD Forex Investments from membership, and from acting as a principal of any NFA Member. An NFA hearing panel reached that decision based on a complaint authorized by NFA’s business conduct committee in September of last year. At a stroke, BCD lost… Read More >>
HTG Capital Buys Three of Kottke’s Businesses
HTG, Kottke to Form a ‘Strong Team’ HTG Capital Partners, a liquidity provider for listed and over-the-counter (OTC) derivatives instruments, is slated to acquire the introducing broker, money management and proprietary trading businesses of Kottke Associates, creating “a strong team” to take on the futures industry, say officials. HTG and Kottke Associates, which is a… Read More >>
National Futures Association CEO Announces Retirement
NFA Board Searching for Replacement The National Futures Association (NFA) reports that Daniel Roth, its president and CEO, plans to retire “in the coming year.” The NFA’s board has begun a search for his successor. Roth, who has held the presidency and the CEO post since the beginning of 2003, joined the NFA in September… Read More >>
CFTC Designates NFA as SDR Data Recipient
CFTC Designates NFA as SDR Data Recipient The CFTC issued an order authorizing the National Futures Association (NFA) as “a designee to receive access to data maintained by swap data repositories (SDR),” officials say. The NFA is touted by the CFTC as the “only registered futures association (RFA)” actually registered with the commodities regulator. “As… Read More >>
Beware the Next Avalanche, Warns CFTC’s Sharon Bowen
New regulations may require that “all swaps transactions, whether cleared or uncleared” be reported to a trade repository, but more needs to be done, according to U.S. CFTC Commissioner Sharon Y. Bowen In a recent speech at George Washington University Law School, she called for closing loopholes and ending risky practices, as well for as… Read More >>
