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Statement Regarding Agreed Settlements With Elon Musk and Tesla, SEC Chairman Jay Clayton, Sept. 29, 2018

Date 30/09/2018

Today, the Commission announced agreed settlements with Elon Musk and Tesla. Mr. Musk is the Chairman and CEO of Tesla and is the company’s largest stockholder, owning approximately 22% of its outstanding shares. The details of the agreed settlements, which remain subject to court approval, are available here.
Elon Musk Settles SEC Fraud Charges; Tesla Charged With And Resolves Securities Law Charge - Settlement Requires Musk To Step Down As Tesla’s Chairman; Tesla To Appoint Additional Independent Directors; Tesla And Musk Agree To Pay $40 Million In Penalties

Date 29/09/2018

The Securities and Exchange Commission announced today that Elon Musk, CEO and Chairman of Silicon Valley-based Tesla, Inc., has agreed to settle the securities fraud charge brought by the SEC against him last week. The SEC also today charged Tesla with failing to have required disclosure controls and procedures relating to Musk’s tweets, a charge that Tesla has agreed to settle. The settlements, which are subject to court approval, will result in comprehensive corporate governance and other reforms at Tesla—including Musk’s removal as Chairman of the Tesla board—and the payment by Musk and Tesla of financial penalties.
Moscow Exchange Forum: New York Session To Convene Monday, October 1

Date 29/09/2018

Russia’s premier capital markets conference, the Moscow Exchange Forum, will return to New York City this coming Monday, October 1. The event, held this year in partnership with BCS Global Markets, is the largest annual gathering in the United States of institutional investors, corporate leaders and senior government officials focused on the Russian market.
CFTC Charges Interdealer Broker With Fraud - CEO And A Senior Manager Also Charged With Responsibility For Fraudulent Conduct

Date 29/09/2018

The Commodity Futures Trading Commission (CFTC) today charged interdealer broker TFS-ICAP LLC and TFS-ICAP Ltd. (TFS-ICAP) with fraud and supervision failures. In a Complaint filed in the U.S. District Court for the Southern District of New York, the CFTC alleges that, from approximately 2008 through 2015, brokers at TFS-ICAP offices in the United States and the United Kingdom routinely attempted to deceive — and did deceive — their clients by engaging in the practices of communicating to them fake bids and offers and fake trades in the foreign exchange options market. In addition, the Complaint charges the Chief Executive Officer, Ian Dibb, and the Head of Emerging Markets broking, Jeremy Woolfenden, with the underlying violations and supervisory failures due to their alleged knowledge and/or encouragement of the fraudulent practices.
CFTC Charges Chairman Of Board Of Interdealer Broker With Supervisory Failures

Date 29/09/2018

The Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against Michael Leibowitz, Chairman of the Board of TFS-ICAP LLC and TFS-ICAP Ltd. (TFS-ICAP), for failing to diligently supervise the handling by brokers on the emerging markets desks at TFS-ICAP of foreign exchange options (FX Options) trades. As found in the Order, it was common practice for TFS-ICAP brokers on the emerging markets desks in both London and New York to engage in practices known as “flying” and “printing” where brokers would communicate to clients fake bids and offers and fake trades intended to create an illusion of greater liquidity and induce clients to trade via TFS-ICAP. The Order further finds that senior managers at TFS-ICAP had reason to know that brokers were flying and printing. The Order finds that Leibowitz failed to implement any policies or procedures to ensure that brokers and senior managers did not engage in this conduct.

CFTC Files Three Enforcement Actions Addressing Insider Trading, Forex Fraud, And Fraudulent Solicitation, Impersonation Of A CFTC Investigator, And Forging CFTC Documents, All In Attempt To Steal Bitcoin

Date 29/09/2018

The Commodity Futures Trading Commission (CFTC) today filed four complaints against various defendants charging violations of the Commodity Exchange Act (CEA) and CFTC Regulations (Regulations), including insider trading; forex fraud; and fraudulent solicitation and impersonating a CFTC official and forging CFTC documents, as set forth below and as more fully described in the related press releases linked below.
CFTC Charges Two Defendants With Fraudulent Solicitation, Impersonation Of A CFTC Investigator, And Forging CFTC Documents, All In Attempt To Steal Bitcoin

Date 29/09/2018

The Commodity Futures Trading Commission (CFTC) today charged two defendants — one using the name Morgan Hunt, purportedly of Arlington, Texas, and doing business as Diamonds Trading Investment House(Hunt), and the other using the name Kim Hecroft, purportedly of Baltimore, Maryland, and doing business as First Options Trading (Hecroft) — with fraudulent solicitation and other fraud. In a Complaint filed in the U.S. District Court for the Northern District of Texas, the CFTC alleges that Hunt and Hecroft engaged in a fraudulent scheme to solicit Bitcoin from members of the public, through false or misleading representations or omissions, to invest in trading products including leveraged or margined foreign currency contracts (forex), binary options, and diamonds. The Complaint additionally alleges that the defendants forged account statements, impersonated a CFTC investigator, and even forged documents purportedly authored by the CFTC’s General Counsel and bearing the image of the CFTC’s official Seal as part of their fraudulent scheme.
CFTC Charges Georgia-Based Company And Its Chief Executive With Forex Fraud Involving Thirty Customers

Date 29/09/2018

The Commodity Futures Trading Commission (CFTC) filed an enforcement action in the U.S. District Court for the Northern District of Georgia against Defendants Lucrative Pips Corporation and its founder and chief executive officer Kevin Perry, charging the Defendants with commodity fraud and misappropriation related to an ongoing off-exchange foreign currency (forex) scheme in which they solicited and misappropriated funds totaling at least $400,000 from at least 30 customers.
CFTC Charges Block Trade Broker With Insider Trading - Broker’s Firm Is Additionally Charged With Supervisory And Recordkeeping Failures

Date 29/09/2018

The Commodity Futures Trading Commission (CFTC or Commission) today filed a civil enforcement action in the U.S. District Court for the Southern District of New York against EOX Holdings LLC (EOX), an Introducing Broker (IB), and one of its registered Associated Persons (AP), Andrew Gizienskiof Houston, Texas. The CFTC’s Complaint charges Defendants with misusing material, nonpublic information in connection with block trades of energy contracts on ICE Futures US, in violation of the Commodity Exchange Act (CEA) and CFTC Regulations. The Complaint also charges EOX with failing to maintain certain required records and failing to diligently supervise its employees.
US Justice Department Hosts Cybersecurity Industry Roundtable

Date 28/09/2018

The Justice Department’s Criminal Division hosted a cybersecurity roundtable discussion yesterday on the challenges in handling data breach investigations. Assistant Attorney General Brian A. Benczkowski of the Criminal Division delivered opening remarks and served as moderator for the event. Deputy Attorney General Rod J. Rosenstein, Assistant Attorney General John C. Demers of the Department’s National Security Division and officials from the FBI, U.S. Secret Service, the White House’s National Security Council and U.S. Department of Homeland Security also delivered remarks at the event. The audience included many of the nation’s leading private-sector practitioners in the field of data breach response and representatives from premier cybersecurity and incident response firms in the country.