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FINRA's Statement On PIABA's Expungement Study

Date 16/10/2013

PIABA's study underlines and emphasizes serious concerns FINRA shares with respect to the expungement process. As a result of these concerns, FINRA recently provided expanded guidance to assist arbitrators in the proper performance of their responsibilities with respect to expungement, and is enhancing arbitrator training with added emphasis on the importance of the integrity of the information in the CRD system.
Intergovernmental Group Of Twenty-Four On International Monetary Affairs And Development Communiqué

Date 16/10/2013

1. We, the Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development, held our ninetieth meeting in Washington, D.C. on October 10, 2013 with Mr. Fernando Aportela, Deputy Minister of Finance and Public Credit of Mexico in the Chair; Mr. Karim Wissa of Egypt as First Vice-Chair; and Mr. Mohammad Safadi, Minister of Finance of Lebanon as Second Vice-Chair.
Statement Of CFTC Commissioner Scott D. O'Malia Regarding JPMorgan's Use Of Manipulative Device

Date 16/10/2013

I respectfully dissent from the settlement Order with JPMorgan Chase Bank (JPMorgan) resolving charges against JPMorgan for use of a manipulative device with respect to the so called "London Whale" trades in violation of Section 6(c)(1) of the Commodity Exchange Act (CEA) and Regulation 180.1.
Eichorn To Head North American Business Development At ANALEC

Date 16/10/2013

ANALEC North America Inc. today announced that industry veteran Nancy Eichorn has joined the firm to head business development in North America. The move is the latest in a series of strategic initiatives aimed at strengthening ANALEC’s presence in the North American market.
Concurrence Of CFTC Commissioner Bart Chilton In The Matter Of JPMorgan Chase, N.A. (JPMorgan)

Date 16/10/2013

I concur with this Order. For too long, our manipulation standard under the Commodity Exchange Act has been too high a hurdle. Here's the proof: we've only successfully litigated one case in the Agency's 38-year history.

New York Attorney General Schneiderman Appoints Veteran Securities Litigator As Chief Of New York’s Investor Protection Bureau - Twenty-Year Securities Expert To Oversee Bureau Responsible For Financial Oversight

Date 16/10/2013

Attorney General Eric T. Schneiderman today announced his selection of Chad Johnson to serve as Chief of the Attorney General’s Investor Protection Bureau. In that role, Mr. Johnson will be charged with enforcing New York State Securities laws and overseeing the bureau that has spearheaded critical financial industry reforms on behalf of New Yorkers. Mr. Johnson has more than 20 years of experience litigating securities cases on behalf of both shareholders and financial institutions.
CFTC Files and Settles Charges Against JPMorgan Chase Bank, N.A., For Violating Prohibition On Manipulative Conduct In Connection With “London Whale” Swaps Trades - JPMorgan Admits To Reckless Conduct In First Case Charging Violation Of Dodd Frank’s Prohibition Against Manipulative Conduct And Is Ordered To Pay A $100 Million Civil Monetary Penalty

Date 16/10/2013

The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order against JPMorgan Chase Bank, N.A. (JPMorgan or Bank), bringing and settling charges for employing a manipulative device in connection with the Bank’s trading of certain credit default swaps (CDS), in violation of the new Dodd-Frank prohibition against manipulative conduct. As set forth in the CFTC’s Order, by selling a staggering volume of these swaps in a concentrated period, the Bank, acting through its traders, recklessly disregarded the fundamental precept on which market participants rely, that prices are established based on legitimate forces of supply and demand. As a result, after a thorough 17-month investigation, the Commission has found the Bank liable for violating Section 6(c)(1) of the Commodity Exchange Act (the “Act”), 7 U.S.C. §9 (2012), as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank”), and Commission Regulation 180.1, 17 C.F.R. §180.1 (2012).
UK's Financial Conduct Authority: Statement On Foreign Exchange Market Investigation

Date 16/10/2013

We can confirm that we are conducting investigations alongside several other agencies into a number of firms relating to trading on the foreign exchange (forex) market.
UK’s Financial Conduct Authority Publishes Data On Consumer Complaints And Redress For The First Half Of 2013

Date 16/10/2013

Consumer complaints reported by financial services firms fell by 500,000 between the second half of 2012 and the first half of 2013. Data published by the Financial Conduct Authority (FCA) showed 2.9 million complaints were made in the first half of 2013, compared to 3.4 million consumer complaints reported by firms in the previous six months.
SEC Charges Knight Capital With Violations Of Market Access Rule

Date 16/10/2013

The Securities and Exchange Commission today announced that Knight Capital Americas LLC has agreed to pay $12 million to settle charges that it violated the agency’s market access rule in connection with the firm’s Aug. 1, 2012 trading incident that disrupted the markets.