News Centre

CFTC Orders Goldman, Sachs & Co., A Commission Registrant, To Pay $1.5 Million For Supervision Failures - By Exploiting Goldman’s Internal Control Failures, A Former Goldman Employee Hid An $8.3 Billion Trading Position - Goldman Lost In Excess Of $100 Million Unwinding The Position

Date 07/12/2012

The U.S. Commodity Futures Trading Commission (CFTC) today announced that Goldman, Sachs & Co. (Goldman), a registered futures commission merchant (FCM) based in New York, N.Y., has been ordered to pay a $1.5 million civil monetary penalty to settle CFTC charges that it failed to diligently supervise its employees for several months in late 2007. The CFTC Order also requires Goldman to cease and desist from violating a CFTC regulation requiring diligent supervision.

US Futures Industry Announces Insurance Study

Date 07/12/2012

CME Group, Futures Industry Association, the Institute for Financial Markets and National Futures Association today announced that they have jointly commissioned a firm to study the costs and benefits of adopting an insurance regime for the U.S. futures industry. The four sponsoring organizations have selected a team of experts brought together by Compass Lexecon to conduct the study under the leadership of Dr. Christopher Culp, an expert in derivatives, risk management, insurance and clearing.

TOM MTF Statistics Week 49 2012

Date 07/12/2012

Click here to download the weekly statistics update of TOM MTF for week 49 - 2012. 

SEC Charges Florida-Based Lawyer With Forging Attorney Opinion Letters For Microcap Stocks

Date 07/12/2012

The Securities and Exchange Commission today announced charges against a Florida-based securities lawyer for issuing fraudulent attorney opinion letters that resulted in more than 70 million shares of microcap stock becoming available for unrestricted trading by investors.

Market Abuse: Justice Ministers Agree EuropeanCommission Proposals On Criminal Sanctions

Date 07/12/2012

In the recent LIBOR scandal, serious concerns have been raised about the manipulation of benchmarks, which can result in significant losses to consumers and investors, or distort the real economy. The integrity of financial markets is also undermined by market manipulation and insider dealing. European justice ministers meeting in the Council of the European Union have today reached agreement on the Commission's proposals for a Directive on insider dealing and market manipulation that will criminalise such behaviour (see IP/11/1218 and IP/12/846). As the European Parliament Economic and Monetary Affairs Committee adopted its first reading opinion on the proposals on 9 October 2012, negotiations between the co-legislators and the Commission for their final adoption can now begin.

BM&FBOVESPA: Investors Value Presence Of Companies On The Corporate Sustainability Index - “The Value Of ISE – Principal Studies And The Perspective Of Investors” Survey Shows Gains From Investment In Sustainable And Responsible Development

Date 07/12/2012

Pension funds are already using BM&FBOVESPA’s Corporate Sustainability Index (ISE) to guide their investments in publicly traded companies. “The value of ISE – principal studies and the perspective of investors” survey shows that 75% of the interviewed institutions used or plan to use in the next 12 months, for investment analyses, the questionnaire filled out by companies for the ISE selection process, available at www.isebvmf.com.br. The survey involved 12 pension funds, which manage BRL 260 billion, representing 45% of the total estimated investment of these bodies in Brazil. This year, the number of companies that authorized publication of questionnaires on the website rose from eight to 14.

TOM Insight November 2012

Date 07/12/2012

Click here to download TOM’s November ‘12 Insight, a document describing matching statistics on TOM MTF and savings made for the retail client by TOM Smart Execution.

Financial Services Authority: Boiler Room Money Launderer Ordered To Pay £320,882

Date 07/12/2012

Michael McInerney, of Richmond, North Yorkshire, has been ordered to pay £320,882 by Southwark Crown Court for his role in a major boiler room share scam. The order was made on Tuesday 4 December.

Clearstream’s November 2012 Figures

Date 07/12/2012

LCH.Clearnet Awarded FOW's 'Best Clearing House, EMEA'

Date 07/12/2012

LCH.Clearnet Group (LCH.Clearnet), the international clearing house, today announced it has been awarded Futures and Options World's (FOW) award for Best Clearing House, EMEA.  The judging panel said the award acknowledged LCH.Clearnet’s world-class risk and collateral management expertise, and innovative multi-asset class clearing solutions.