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Remarks To The Small Business Capital Formation Advisory Committee, SEC Commissioner Mark T. Uyeda, Washington D.C., Sept. 19, 2023

Date 27/09/2023

Good afternoon. As this is the second meeting for the new members of this committee, I hope that you are settling into your roles. I have some thoughts for your consideration as you formulate recommendations to the Commission during your tenure on this committee.
CFTC: Miami Federal Court Enters Preliminary Injunction Order Against Certified Public Accountant In Connection With $58 Million Foreign Currency Fraud And Misappropriation Scheme

Date 27/09/2023

The Commodity Futures Trading Commission today announced the Honorable Darrin P. Gayles of the U.S. District Court for the Southern District of Florida entered a preliminary injunction order against Timothy F. Stubbs on September 22. The court’s decision stems from the CFTC’s January 27, 2022 complaint charging Stubbs, together with four other individuals and five companies, with fraud, misappropriation, and registration violations in connection with a fraudulent foreign currency (forex) scheme. [See CFTC Press Release No. 8486-22]
Statement Of CFTC Commissioner Kristin N. Johnson: Increase Investor Protection By Stopping Bitcoin Investment Fund Fraud

Date 27/09/2023

Today the CFTC announced that it filed a complaint in the Southern District of Florida against Sean Michael and his company Mosaic Exchange Ltd. The complaint alleges that the Defendants solicited and successfully convinced investors to send their bitcoin and other funds to Mosaic under the guise that Mosaic would enter into futures, swaps, and leveraged spot transactions in cryptocurrency on behalf of the investors. The entire scheme was a sham, a virtual house of cards. According to the complaint, Defendants falsely represented their experience, track record, and profitability trading digital asset derivatives, falsely claimed that Mosaic was a digital asset trading platform, and falsely touted their use of a proprietary trading algorithm. Based on these (mis)representations, customers entrusted the Defendants with hundreds of thousands of dollars. All too quickly, these unsuspecting investors discovered that their hard-earned wealth had evaporated alongside their trust in Defendants’ representations.
CFTC Charges Mosaic Exchange Limited And Sean Michael With A Fraudulent Solicitation And Digital Asset Commodities Trading Scheme

Date 27/09/2023

The Commodity Futures Trading Commission today announced it filed a civil enforcement action in the U.S. District Court for the Southern District of Florida against Mosaic Exchange Limited, a Pennsylvania limited liability company, and its owner and Chief Executive Officer Sean Michael, presently or formerly of Boca Raton, Florida, for running a fraudulent digital asset commodity scheme.
MIAX Options And MIAX Emerald Options Exchanges - Expanded Opening And Intra-Day Quote Width Requirements And Order Monitor Settings For Certain Symbols Trading On MIAX Options And MIAX Emerald Through Friday, December 29, 2023

Date 27/09/2023

MIAX Options and MIAX Emerald have expanded the maximum valid bid/ask differentials for Market Makers for certain symbols traded on the Exchanges. The expanded bid/ask differentials will be in effect through Friday, December 29, 2023.

SIFMA Welcomes The Introduction Of The Uniform Treatment Of Custodial Assets Act

Date 27/09/2023

SIFMA today issued the following statement from president and CEO Kenneth E. Bentsen, Jr. on the introduction of legislation, the Uniform Treatment of Custodial Assets Act, which would address the capital treatment of digital assets held in custody at a financial institution:
CFTC Awards Whistleblower More Than $300,000

Date 27/09/2023

The Commodity Futures Trading Commission today announced an award of more than $300,000 to a whistleblower whose particularly informative tip caused the Division of Enforcement (DOE) to open an investigation that led to an underlying enforcement action. That tip precisely and accurately described the misconduct at issue. Moreover, the whistleblower assisted DOE staff multiple times during the investigation, provided additional evidence, interpreted it for DOE staff, and conserved substantial resources for the CFTC.
OCC Reports Mortgage Performance For Second Quarter Of 2023

Date 27/09/2023

The Office of the Comptroller of the Currency (OCC) reported on the performance of first-lien mortgages in the federal banking system during the second quarter of 2023.
ISDA, FIA Respond To CFTC Consultation On DCO Recovery And Orderly Wind-Down

Date 27/09/2023

On September 26, ISDA and the FIA responded to the CFTC’s notice of proposed rulemaking on derivatives clearing organizations’ (DCOs) recovery and orderly wind-down plans.
Trade Associations Submit Briefing On EU’s REMIT Article 9

Date 27/09/2023

On September 20, ISDA and six other trade associations sent a joint briefing to EU legislators on Article 9 of the Regulation of Wholesale Energy Market Integrity and Transparency (REMIT) review, which covers the supervision of third-country firms. The associations caution against establishing market access barriers for third-country firms, while endorsing the approach taken in the Council of the EU’s general approach. The Council and the European Parliament are currently negotiating the REMIT Review.