News Centre

CFTC Orders Florida Resident And His Company To Pay Over $1 Million For Fraud

Date 13/02/2020

The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges against Matthew R. White and M.W. Global Futures LLC (MWGF), both of Florida, for fraudulently soliciting approximately $1.2 million for a pooled investment vehicle trading commodity futures contracts, misappropriating over $280,000 in pool participants’ funds to pay for personal expenses, and operating without registration as required. The order requires White and MWGF to pay a $200,000 civil monetary penalty and $883,974 in restitution, of which $602,003 has already been paid. The order also requires White and MWGF to cease and desist from further violations of the Commodity Exchange Act, as charged.

Federal Reserve Board Announces Termination Of Enforcement Actions With Discover Financial Services, JPMorgan Chase & Co., Deutsche Bank AG, And The Royal Bank Of Scotland PLC And RBS Securities, Inc.

Date 13/02/2020

The Federal Reserve Board on Thursday announced the termination of the enforcement actions listed below:

Deutsche Boerse Group: Business Indicators For January 2020

Date 13/02/2020

Attached please find a summary of Deutsche Börse Group's business indicators for January 2020.

Moscow Exchange: Risk Parameters Change On Securities Market

Date 13/02/2020

CCP NCC sets the following risk parameters on Securities market starting from February 19, 2020:

iSTOXX Italy Small Mid Cap Index Licensed To Sella SGR

Date 13/02/2020

Qontigo has licensed the iSTOXX Italy Small Mid Cap Index to the Italian asset manager Sella SGR. Sella will use the index for active management of their PIR Fund (Piano Individuale di Risparmio, long-term individual savings plans).

Rouge – Impair – Manque: Reflections On Accounting Standards - Speech By Martin Taylor, External Member Of The Bank Of England Financial Policy Committee, Given At Strathclyde Business School, Glasgow

Date 13/02/2020

Martin Taylor sets out the issues around reflecting the risks of borrowers failing to pay back their loans in a bank’s accounts.

Penalties, Remediation, And Our General Principles - Speech By Mark Steward, FCA Executive Director Of Enforcement And Market Oversight, Delivered At The City & Financial Global Ltd Event, London

Date 13/02/2020

Highlights

• The point of financial penalties is deterrence but this is not the point of enforcement which is about just outcomes. In 2019 we imposed financial penalties of over £310 million on firms that also paid or are paying over £231 million in restitution. Addressing both serious misconduct as well as its consequences ensures just outcomes.  
• Most of the cases involving financial penalties have involved serious breaches of the General Principles. In these cases too little attention is paid to the General Principles in planning and organising what a firm is doing.
• Firms need to engage with the Principles when undertaking regulated activities.

EGX: ETF Market Makers Allowed To Place Orders With No Minimum

Date 13/02/2020

In light of the continuous efforts of The Egyptian Exchange (EGX) and The Egyptian Financial Regulatory Authority (FRA) for the development of the Egyptian capital market, EGX submitted a proposal which was adopted by FRA eliminating the minimum quantity for inviting on ETFs which limited the trading of small investors on ETF.   

CFTC To Hold An Open Commission Meeting On February 20

Date 13/02/2020

Commodity Futures Trading Commission Chairman Heath P. Tarbert today announced the CFTC will hold an open meeting on Thursday, February 20, 2020 at its headquarters in Washington, D.C. at 9:30 a.m. (EST) to consider the following:

Vela Adds Product And Account Management Expertise - Cedric Rondeaux And Ryan Hsu Bring Their Market Data And Trading Experience To Global Teams

Date 13/02/2020

Vela, a leading independent provider of trading and market access technology for global multi-asset electronic trading, today announced the expansion of its global Product and Account Management teams with new hires in London and New York.