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Federal Court Orders California Resident Ghassan Tawachi And His Firm, Intelligent Trades, LLC, To Pay In Total Nearly $1.5 Million In Disgorgement And A Monetary Penalty For Defrauding Clients Through A Bogus Commodity Futures Trading System - Order Imposes Permanent Trading And Registration Bans On The Defendants - Order Also Finds That Tawachi Violated A 2012 CFTC Order That Prohibited Him From Commodity Futures Trading

Date 01/08/2016

The U.S. Commodity Futures Trading Commission (CFTC) obtained a federal court Consent Order for Permanent Injunction against Defendants Ghassan Tawachi of Irvine, California, and his firm, Intelligent Trades, LLC, a Florida limited liability company, requiring them to jointly and severally disgorge $479,755 of ill-gotten gains and pay a $1 million civil monetary penalty for defrauding clients through the operation of a commodity futures software trading system. In addition, the Order finds that Tawachi acted as a Commodity Trading Advisor without being registered with the CFTC as required by the Commodity Exchange Act (CEA).
Statement By Assistant Secretary For Economic Policy Karen Dynan For The US Treasury Borrowing Advisory Committee Of The Securities Industry And Financial Markets Association

Date 01/08/2016

Real GDP growth picked up in the second quarter of 2016 to an annual rate of 1.2 percent, as strong consumer spending was somewhat offset by continued inventory adjustment. Favorable domestic fundamentals, including strong job creation and rising incomes, should support solid growth going forward. Private-sector forecasters anticipate that the economy will grow at around a 2¼ percent pace over the remainder of the year.
US Treasury Announces Marketable Borrowing Estimates

Date 01/08/2016

View the Sources and Uses Table here
Remarks Before The Quadrilateral Meeting Of The FMLC/FMLG/FLB/EFMLG, SEC Commissioner Michael S. Piwowar, London, England, July 20, 2016

Date 01/08/2016

Thank you, Michael [Nelson], for that kind introduction and for inviting me to speak at this auspicious meeting.[1] And, thank you, Lord Walker, for your warm welcome this morning. I am pleased to have this opportunity to speak with all of you. The issues discussed here today and tomorrow cover a lot of ground and I am particularly pleased that one of the topics this morning was FinTech. I am currently pushing for the U.S. Securities and Exchange Commission (“Commission” or “SEC”) to hold a FinTech roundtable this fall and I personally learned a lot from today’s discussion of blockchain technology and virtual currencies.
Federal Reserve Board Invites Comment On Interim Final Rule Adjusting The Board's Maximum Civil Money Penalties

Date 01/08/2016

The Federal Reserve Board on Monday invited comment on an interim final rule adjusting the Board's maximum civil money penalties, as required by law.

OneChicago Announces Trading Volume For July 2016

Date 01/08/2016

OneChicago, LLC (OCX), a securities finance exchange, today announced its July 2016 volume of 853,607, a decrease of 27% year-over-year. OneChicago is a CFTC and SEC regulated exchange offering Single Stock Futures (SSF), a Delta One product, on approximately 1,800 equities, including ADRs and ETFs.
Industry Veteran Lisa Pollina Joins DTCC Board Of Directors

Date 01/08/2016

The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced that Lisa A. Pollina, former Vice Chairman for RBC Capital Markets, a division of the Royal Bank of Canada, has been added to its Board of Directors. Ms. Pollina has joined the Board’s Audit Committee, Finance/Capital Committee & Risk Committee.
Montréal Exchange Exchange Closed - Civic Holiday

Date 01/08/2016

The Exchange's markets are closed today, August 1, 2016 (Civic Holiday).
FTC Approves Fiscal Year 2015 Hart Scott Rodino Premerger Notification Report

Date 01/08/2016

The Federal Trade Commission, together with the Department of Justice’s Principal Deputy Assistant Attorney General for Antitrust, released the 38th Annual Hart-Scott-Rodino Report. The report presents fiscal year 2015 data on the HSR Premerger Notification Program, which is key to alerting the agencies to transactions that may substantially lessen competition in violation of federal law.
EEX New Participant: Société Générale S.A.

Date 01/08/2016

Société Générale S.A. has additionally been admitted to exchange trading for UK Financial Power Futures.