Cftc Law

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Commentaries on commodities, forex, futures and commodities regulations.

Author: Felix Shipkevich is a solo practitioner in New York City.

Blawg Related Categories: Banking Law • Securities Law • Solo / Small Firm

Recent Posts from CFTC Law

New prudential regime for personal investment firms
Under the new rules, all PIFs will have to hold capital resources worth at least three months of their annual fixed expenditure in realizable assets such as cash. The minimum capital resources threshold for any…
CFTC ACTION: David P. Lee
The CFTC announced that it has entered into consent order settling charges brought against David P. Lee of New Jersey, a former trader for the Bank of Montreal. Judge George B. Daniels of the U.S.…
FSA fines UBS £8million, 3rd largest fine it has ever imposed
UBS employees took part in the trading of foreign exchange and precious metals using customer money without authorization and allocated losses to customers’ accounts. An internal UBS investigation estimated that as many as 50 unauthorized…
NFA ACTION: IFINIX Futures Inc
On June 24, 2009, NFA issued a complaint alleging that IFINIX failed to maintain required minimum ANC and adequate books and records; failed to file notice with NFA; and failed to develop and implement an…
The Dubai Mercantile Exchange asked CFTC to ease margin-calculation rules
The DME has asked the CFTC to ease margin-calculation rules for traders on its markets, cutting trading costs for its flagship Oman Sour Crude contract. The DME’s sour crude futures contract, launched in June 2007,…
CFTC ACTION: Raleigh Capital Management Inc.
The CFTC announced that it obtained an emergency court order freezing assets held by defendants Raleigh Capital Management Inc. of Chicago and its sole principal, Richmond Hamilton, Jr., who resides in Morocco. The emergency order…
FSA fined GMAC‑RFC Limited £2.8million
The FSA announced it has fined GMAC‑RFC Limited £2.8million for failing to treat customers fairly and secured redress of up to £7.7million (plus interest) for over 46,000 mortgage customers. Between 31 October 2004 and 30…
Biannual Macroeconomic Review
MAS Economic Policy Department released its biannual Macroeconomic Review. Highlight from the review are below: After experiencing its deepest recession since independence, the Singapore economy registered two quarters of double-digit sequential expansion and appears to…
DFSA signs MoU with Securities and Exchange Board of India
The DFSA entered into a Memorandum of Understanding with the Securities and Exchange Board of India (SEBI). Mr Paul Koster, Chief Executive of the DFSA said, “There are already a number of branches of Indian…
Payment services regulations imposed
The FSA will begin regulating banks’ and building societies’ day-to-day contact with their customers from 1 November 2009, covering everything from direct debits, payments, instant access and savings accounts through to unauthorized transactions and notification…