News Centre

Federal Court In Florida Orders James Burbage, Frank Gaudino, And Their Companies To Pay Over $5 Million In Restitution And Penalties To Settle Charges Related To Illegal, Off-Exchange Precious Metals Transactions

Date 05/02/2014

The U.S. Commodity Futures Trading Commission (CFTC) announced that Judge Donald M. Middlebrooks of the U.S. District Court for the Southern District of Florida in Miami entered a final judgment and permanent injunction Order against Florida residents James Burbage and Frank Gaudino and their companies, Lloyds Commodities, LLC, Lloyds Commodities Credit Company, LLC, and Lloyds Services, LLC (the Lloyds Defendants), who the CFTC had sued for their role in a multi-million dollar precious metals scheme orchestrated by Hunter Wise Commodities, LLC and related companies (Hunter Wise) (see CFTC Press Release 6447-12 and the Complaint).

First Derivatives Opens Singapore Office, Consolidates Asian Expansion

Date 05/02/2014

First Derivatives (AIM: FDP.L, ESM:FDP.I), a leading provider of software and consulting services to global investment banks, brokers, hedge funds and exchanges, today announced the opening of their new Singapore office. 

CFTC Announces Agenda For Upcoming Global Markets Advisory Committee Meeting

Date 05/02/2014

The U.S. Commodity Futures Trading Commission (CFTC or Commission) announced today the full agenda for the upcoming CFTC Global Markets Advisory Committee (GMAC) public meeting. The meeting will be held on Wednesday, February 12, 2014 at CFTC’s headquarters in Washington, D.C. from 2 p.m. to 5 p.m. For more information regarding the meeting, view CFTC Press 6842-14. CFTC Acting Chairman Mark Wetjen is the sponsor of this advisory committee.

CFTC Acting Chairman Wetjen To Testify Before The U.S. Senate Banking, Housing And Urban Affairs Committee

Date 05/02/2014

CFTC Acting Chairman Mark Wetjen will testify before the U.S. Senate Banking, Housing and Urban Affairs Committee

SIFMA Statement On The National Cybersecurity And Critical Infrastructure Protection Act

Date 05/02/2014

SIFMA today released the following statement from Kenneth E. Bentsen, Jr., president and CEO, after the House Committee on Homeland Security reported out H.R. 3696, the National Cybersecurity and Critical Infrastructure Protection Act of 2013: 

"Cybersecurity is increasingly a major threat to our financial system. SIFMA members are dedicating significant resources to protect the millions of Americans who use financial services every day and rely on the integrity of our markets. We commend the Committee for advancing this important legislation that could enhance how the government and private sector work together to mitigate cyber threats. A strong public-private partnership, complete with robust information sharing, is the most effective way to prevent and defend against cyber attacks."

CBOE Holdings Declares First Quarter 2014 Dividend

Date 05/02/2014

CBOE Holdings, Inc. (NASDAQ: CBOE) announced today that its Board of Directors has declared a quarterly cash dividend of$0.18 per share of common stock payable on March 21, 2014, to stockholders of record at the close of business on February 28, 2014.

MGEX Breaks All-Time Open Interest Record

Date 05/02/2014

MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), broke the all-time Exchange open interest record with79,442 open futures and options contracts after Tuesday’s trade date.

IOSCO Issues Report On Risks And Benefits Of Financial Return Crowd-Funding

Date 05/02/2014

The Research Department of the International Organization of Securities Commissions (IOSCO) today published a Staff Working Paper entitled Crowd-funding: An Infant Industry Growing Fast.

Testimony Of CFTC Acting Chairman Mark Wetjen Before The U.S. House Committee On Financial Services On The Volcker Rule Impact

Date 05/02/2014

Good morning Chairman Hensarling, Ranking Member Waters and members of the Committee. Thank you for inviting me to today’s hearing on Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), otherwise known as the Volcker Rule. I am honored to testify as Acting Chairman of the Commodity Futures Trading Commission (CFTC). I also am pleased to join my fellow regulators in testifying today.

FINRA Fines Brown Brothers Harriman A Record $8 Million For Substantial Anti-Money Laundering Compliance Failures - Highest Fine Levied By FINRA For AML-Related Violations - Former AML Compliance Officer Also Fined And Suspended

Date 05/02/2014

The Financial Industry Regulatory Authority (FINRA) announced today that it has fined New York-based Brown Brothers Harriman & Co. (BBH) $8 million for substantial anti-money laundering compliance failures including, among other related violations, its failure to have an adequate anti-money laundering program in place to monitor and detect suspicious penny stock transactions. BBH also failed to sufficiently investigate potentially suspicious penny stock activity brought to the firm's attention and did not fulfill its Suspicious Activity Report (SAR) filing requirements. In addition, BBH did not have an adequate supervisory system to prevent the distribution of unregistered securities. BBH's former Global AML Compliance Officer Harold Crawford was also fined $25,000 and suspended for one month.