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  • CFTC Charges Chicago-Based Firm And Six Individuals In Multi-Million Dollar Options Fraud Scheme

    Date 29/06/2020

    The Commodity Futures Trading Commission today announced the filing of a civil enforcement action in the U.S. District Court for the Northern District of Illinois against Long Leaf Trading Group, Inc., its principals James A. Donelson of Aurora, Illinois, and Timothy M. Evans of Tulum, Mexico, and former Long Leaf associated persons Jeremey S. Ruth of Austin, Texas, and Andrew D. Nelson of Elmhurst, Illinois. The defendants are charged with defrauding customers in connection with options on futures transactions.  Some of the defendants are also charged with registration and disclosure violations. The CFTC also issued two orders filing and simultaneously settling charges against two additional former associated persons of Long Leaf, Scott J. Gecas, of Tinley Park, Illinois, and James E. Leeney, of Chicago, Illinois for their participation in the firm’s fraud scheme.

  • Statement On The Department Of Labor’s Investment Advice Proposal, SEC Chairman Jay Clayton, June 29, 2020

    Date 29/06/2020

    I commend the Department of Labor for their efforts to clarify and align the standards of conduct that investment professionals must follow in providing advice to Main Street investors. The proposed exemption announced today reflects in part the Commission’s constructive and ongoing engagement with the Department. I look forward to continuing our work with the Department so that collectively we can enhance investor choice and increase investor protections.

  • Coronavirus And CARES Act, Federal Reserve Chair Jerome H. Powell, Before The Committee On Financial Services, U.S. House Of Representatives, Washington, D.C.

    Date 29/06/2020

    Chairwoman Waters, Ranking Member McHenry, and other members of the Committee, thank you for the opportunity to testify today to discuss the extraordinary challenges our nation is facing and the steps we are taking to address them.

  • ISDA, ASIFMA, FIA And GFXD Publish EU Benchmarks Regulation Review Recommendations

    Date 29/06/2020

    The International Swaps and Derivatives Association, Inc. (ISDA), the Asia Securities Industry and Financial Markets Association (ASIFMA), the Futures Industry Association (FIA) and the Global Foreign Exchange Division (GFXD) of the Global Financial Markets Association (GFMA) have published a set of recommendations to reform the European Union Benchmarks Regulation (BMR). The proposals are aimed at maintaining the intended protections of the BMR but reducing the potential for uncertainty and disruption and preventing EU investors from being put at a competitive disadvantage versus non-EU entities.

  • IIROC FY 2021 Priorities Chart Path Ahead During These Challenging Times - Enhancing Investor Protection While Supporting Investment Industry Changes Accelerated By COVID-19

    Date 29/06/2020

    The Investment Industry Regulatory Organization of Canada (IIROC) today published its 2021 Priorities, outlining areas of focus where the pan-Canadian regulator will take action to enhance investor protection and promote healthy capital markets in the current environment of uncertainty related to the COVID-19 pandemic.