News Centre

CFTC Charges Unregistered Michigan Commodity Pool Operator and its President with $13 Million Fraud

Date 06/07/2023

The Commodity Futures Trading Commission filed a civil enforcement action in the U.S. District Court for the Eastern District of Michigan against Dwight A. Foster (Foster) and his firm K.E.L. Enterprises, Inc. (KEL), both based in the West Bloomfield, Michigan area. The complaint charges Foster and KEL with fraud, registration, and books and records violations relating to a multimillion-dollar fraudulent scheme that solicited and accepted approximately $13.2 million from customers in the U.S.

Cboe Global Markets Promotes Jill Griebenow To Chief Financial Officer

Date 06/07/2023

• Jill Griebenow, Senior Vice President, Chief Accounting Officer, appointed to serve as Executive Vice President, CFO, Treasurer and Chief Accounting Officer effective July 10, 2023
• Current CFO Brian Schell departing company to pursue new opportunity

Statement Of CFTC Commissioner Kristin N. Johnson Supporting Enforcement Action Against Bitcoin Fraud

Date 06/07/2023

Today, the Commodity Futures Trading Commission (CFTC or Commission) instituted a settled public administrative proceeding against Phillip J. Reichenthal (Reichenthal) and Randy Craig Levine (Levine), for engaging in digital asset fraud.

Canadian Securities Regulators Outline Expectations For Investment Funds Holding Crypto Assets

Date 06/07/2023

The Canadian Securities Administrators (CSA) today published guidance to help fund managers understand and comply with securities law requirements for public investment funds holding crypto assets (public crypto asset funds).

Statement Regarding Amicus Brief Filing In Murray v. UBS Securities, LLC, SEC Commissioner Hester M. Peirce, SEC Commissioner Mark T. Uyeda, July 6, 2023

Date 06/07/2023

On May 1, 2023, the Supreme Court of the United States granted certiorari in Murray v. UBS Securities, LLC.  Yesterday, the Commission joined an amicus brief filed by the Solicitor General in the Supreme Court, which supports the petitioner in that case.  We dissent from the decision to join the amicus brief for the reasons set forth below.

CFTC Charges Alleged Bitcoin Seller and Former Attorney with Multi-Million Dollar Bitcoin Fraud, Imposes Over $5 Million in Restitution

Date 06/07/2023

The Commodity Futures Trading Commission today issued two orders simultaneously filing and settling charges against Randy Craig Levine, formerly of Coral Gables, Florida, and Philip Reichenthal of Homestead, Florida, for perpetrating a multi-million dollar bitcoin fraud. 

TMX Group Consolidated Trading Statistics – June 2023

Date 06/07/2023

TMX Group Limited today announced June 2023 trading statistics for its marketplaces – Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange and Montréal Exchange.

FSB Plenary Meets In Frankfurt

Date 06/07/2023

The Financial Stability Board (FSB) Plenary met today in Frankfurt. The Plenary discussed preliminary lessons learned from the recent banking sector turmoil and the outlook for global financial stability. The Plenary also discussed the FSB’s deliverables to the July G20 Finance Ministers and Central Bank Governors meeting.

EBA Publishes Validation Requirements On Initial Margin Models

Date 06/07/2023

The European Banking Authority (EBA) published today its final draft Regulatory Technical Standards (RTS) on Initial Margin Model Validation (IMMV) under the European Markets Infrastructure Regulation (EMIR). These draft RTS set out the supervisory procedures to ensure the prudent use of initial margin models for OTC derivatives. In an accompanying Opinion, and as part of the ongoing negotiations on EMIR, the EBA calls on co-legislators to consider the establishment of a central validation function in the EU.

UK Financial Conduct Authority Sets Out Expectation For Fair And Competitive Saving Rates

Date 06/07/2023

Many people are feeling the squeeze from rising interest rates and prices, so it is more critical than ever that they are offered fair and competitive saving rates. We held a constructive meeting today with the UK’s largest banks and building society, which builds on work we have been doing over several months – to monitor the savings markets and the decisions made. We have challenged firms where their decision making has been slow.