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CFTC Orders Zulutrade Inc. To Pay $150,000 Penalty And Disgorge Profits Of $80,000 To Settle Charges Of Failure To Supervise Activities Relating To Its Business As A CFTC Registrant - Zulutrade Is A CFTC-Registered Introducing Broker Located In Piraeus, Greece

Date 09/09/2014

The U.S. Commodity Futures Trading Commission (CFTC) today announced the filing and simultaneous settlement of charges against Zulutrade, Inc., a CFTC-registered Introducing Broker located in Piraeus, Greece, for failure to diligently supervise activities relating to its business as a CFTC registrant. Specifically, the CFTC’s Order found that for at least a three-year period from October 2010 to October 2013, Zulutrade failed to follow its procedures for screening for accountholders from the U.S. Department of the Treasury’s Office of Foreign Assets Control’s (OFAC) targeted countries. The Order requires Zulutrade to pay a $150,000 civil monetary penalty and disgorge $80,000 in commissions and fees it earned from accounts that were related to the supervisory failure.

ISDA Insight Survey: Derivatives Vital To End-Users, But Fragmentation A Concern

Date 09/09/2014

Over-the-counter (OTC) derivatives continue to be an integral part of end-user risk management strategies, according to a survey published today by the International Swaps and Derivatives Association, Inc. (ISDA) at its 2014 ISDA Annual North America Conference in New York.

CFTC Staff Issues Exemptive Letter To Commodity Pool Operators Expanding The List Of Permissible Third-Party Recordkeepers

Date 09/09/2014

The U.S. Commodity Futures Trading Commission’s (Commission) Division of Swap Dealer and Intermediary Oversight (DSIO) recently issued an exemptive letter that allows commodity pool operators (CPOs) to use additional recordkeepers beyond those enumerated in Commission regulations 4.7(b)(4) and 4.23(c).

US Federal Agencies Announce Increases In Dollar Thresholds In Regulations Z And M For Exempt Consumer Credit And Lease Transactions

Date 09/09/2014

The Federal Reserve Board and the Consumer Financial Protection Bureau (CFPB) today announced increases in the dollar thresholds in Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) for exempt consumer credit and lease transactions. These increases are consistent with the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amendments to the Truth in Lending Act and the Consumer Leasing Act to adjust these thresholds annually by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers. Transactions at or below the thresholds are subject to the protections of the regulations.

CFTC Charges Florida Attorney Jay Bruce Grossman With Aiding And Abetting Illegal Metals Transactions And Fraud

Date 09/09/2014

The U.S. Commodity Futures Trading Commission (CFTC) today filed a civil enforcement Complaint in the U.S. District Court for the Southern District of Florida against attorney Jay Bruce Grossman, who practices law in Fort Lauderdale, Florida. The CFTC Complaint alleges that beginning on July 16, 2011, Grossman willfully aided and abetted multiple clients in their operation of illegal and fraudulent precious metals schemes, in violation of the Commodity Exchange Act (CEA).

SEC Charges Offshore Business And Two Individuals Behind Scheme To Conceal Ownership Of Microcap Stocks

Date 09/09/2014

The Securities and Exchange Commission today charged two individuals managing an offshore business intended to help clients evade U.S. securities laws with concealing the ownership of certain microcap stocks as part of a larger money laundering scheme alleged by criminal authorities.

FTSE4Good Semi-Annual September 2014 Review

Date 09/09/2014

• 46 new companies added to Index Series, now over 900 constituents in total
• 11 new companies from USA
• Entrants from Nordic region continue to rise

Chairman And Chief Executive Of The UK Financial Conduct Authority Questioned By The UK Parliament Treasury Committee

Date 09/09/2014

Financial Conduct Authority Hearings 2014-15WitnessesJohn Griffith-Jones, Chairman, and Martin Wheatley, Chief Executive, Financial Conduct Authority

CFTC Staff Issues Interpretative Letter For Life Insurance Companies Investing General Account Assets

Date 09/09/2014

The U.S. Commodity Futures Trading Commission’s (Commission) Division of Swap Dealer and Intermediary Oversight (DSIO) recently issued an interpretation of Commission Regulation 4.10(d) and Section 1a(10) of the Commodity Exchange Act (CEA), both of which define the term “commodity pool.”

Comptroller Of The Currency Testifies On Dodd-Frank Act Implementation

Date 09/09/2014

Comptroller of the Currency Thomas J. Curry today discussed implementation of the Dodd-Frank Consumer Protection and Wall Street Reform Act to improve the safety and soundness of national banks and federal savings associations and enhance consumer protection.