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  • CFTC Unanimously Approves Two Measures In September 16 Open Meeting

    Date 16/09/2019

    At an open meeting today, the U.S. Commodity Futures Trading Commission voted unanimously to approve the following two measures:

  • Remarks Of CFTC Director Of Enforcement James McDonald During CFTC-DOJ Press Conference Call

    Date 16/09/2019

    This morning, the CFTC announced the filing of manipulation and spoofing charges against three individuals who served as executives and traders on the same trading desk of a major U.S. financial institution.  Michael Nowak and Gregg Smith are charged with manipulative conduct and spoofing in the precious metals futures markets in a complaint filed in the United States District Court for the Northern District of Illinois, and Christian Trunz resolved charges of spoofing in an administrative settlement, in which he admitted to the misconduct and agreed to serve as a cooperating witness in this investigation.

  • CFTC Charges Futures Trader And Industrial Firm With Spoofing In Precious Metals Futures

    Date 16/09/2019

    The U.S. Commodity Futures Trading Commission issued two orders today filing and settling charges against John Lawrence and his employer, Heraeus Metals New York LLC, for spoofing — bidding or offering with the intent to cancel the bid or offer before execution.  The order against Lawrence finds he engaged in spoofing from at least May 2017 to January 2018 in silver and gold futures traded on the Commodity Exchange, Inc. (COMEX).  The order against Heraeus finds the firm vicariously liable for Lawrence’s spoofing, which Lawrence engaged in while a trader for Heraeus. This case was brought in connection with the CFTC Division of Enforcement’s Spoofing Task Force.

  • SEC: Two Broker-Dealers To Pay $4.65 Million In Penalties For Providing Deficient Blue Sheet Data

    Date 16/09/2019

    The Securities and Exchange Commission today announced that Stifel, Nicolaus & Co., Inc. has agreed to pay $2.7 million and BMO Capital Markets Corp. has agreed to pay $1.95 million to settle charges for providing incomplete and inaccurate securities trading information to the SEC. Broker-dealers are required to provide the information known as "blue sheet data," which the SEC uses to carry out its enforcement and regulatory obligations, including investigations of insider trading and other fraudulent activity.


  • Joint Statement Of CFTC Chairman Heath Tarbert And Commissioner Brian Quintenz In Support Of Interagency Cooperation To Strengthen U.S. Financial Markets And Better Serve The Real Economy

    Date 16/09/2019

    We are pleased to support the interagency amendments to the Volcker Rule, which simplify the rule’s application; provide objective, clear standards for prohibited and permissible activities; and tailor the rule’s requirements to focus on entities with the most significant trading activity.  The revisions ensure that banking entities are able to serve their clients effectively and provide the traditional banking services that underpin our nation’s economic growth, without concern that such activity could implicate the Volcker Rule’s prohibitions.  The final rule highlights how cooperation among financial regulators can address the unintended consequences of prior regulations and ensure that capital formation and financial intermediation are not stifled by unnecessary regulatory complexity.