Capital FX LLC Violates NFA Compliance Rules, Permanently Banned from NFA Membership
Capital FX LLC Charged with Providing False and Misleading Information and Failing to Comply with NFA Investigation
In a February 5 press release, the NFA announced a settlement with Capital FX LLC (CFX) and its sole principal and employee Robert W. Pecord that will permanently bar the commodity trading advisor (CTA) from future NFA membership.
CFX and [...]
Updates to BSA E-Filing System for FinCEN Suspicious Activity Reports
FCMs and IBs Can Use BSA E-Filing System To File Several FinCEN Forms, Namely Suspicious Activity Reports
FinCEN (Financial Crimes Enforcement Network) recently improved its online BSA (Bank Secrecy Act) e-filing system. The security-enhanced site can be used for free and allows users (such as FCMs and IBs) to submit FinCEN forms more efficiently. Your firm’s [...]
Forex Fraudster Jailed For Violating Court Orders in CFTC Anti-Fraud Action
Minnesota Federal Judge Throws Trevor G. Cook in Jail For Dissipating Funds and Failing to Surrender $35 Million+ in Assets
In November 2009, the U.S. Commodity Futures Trading Commission (CFTC) ordered an emergency freeze of assets belonging to Minnesota residents Trevor G. Cook and Patrick Kiley and their trading companies. Cook and Kiley, who were charged [...]
Effective Date of Amendments to NFA Financial Requirements Sections 11 and 12 and the Interpretive Notice Regarding Forex Transactions
NFA has received notice that the Commodity Futures Trading Commission has approved changes to NFA Financial Requirements Sections 11 and 12 and related changes to the Interpretive Notice titled “Forex Transactions.” The amendments adopt an alternative net capital requirement for Forex Dealer Members (FDMs) and eliminate the existing exemption from the security deposit requirement. These [...]
Federal Court Freezes Assets of Moroccan Resident Richmond Hamilton, Jr., and the Chicago Commodity Pool He Manages in a $1 Million Pool Anti-Fraud Case Brought by the CFTC
Court Appoints a Receiver to Identify Assets and Funds Owed Customers
Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced that it obtained an emergency court order freezing assets held by defendants Raleigh Capital Management, Inc. (RCM), of Chicago, Ill., and its sole principal, Richmond Hamilton, Jr., who resides in Morocco. The court’s [...]
Pennsylvania Resident Joseph Forte Admits to Operating a Multi-Million Dollar Ponzi Scheme in CFTC Enforcement Action
Forte Barred From Trading Commodity Futures and Options Contracts and CFTC-Regulated Foreign Currency Contracts
Washington, DC - The U.S. Commodity Futures Trading Commission (CFTC) today announced that a federal court in Philadelphia entered a consent order of permanent injunction against defendant Joseph S. Forte of Broomall, Pa. The CFTC charged Forte with fraud and misappropriation in [...]
CFTC CHARGES A COUPLE IN NORTH CAROLINA AND THEIR COMPANIES A $22.5 MILLION PONZI SCHEME
CFTC Charges Charlotte, North Carolina Couple Sidney and Charlotte Hanson and their Companies with Operating a $22.5 Million Foreign Currency Ponzi Scheme
Investors’ money allegedly used to purchase an 88-acre farm, private plane rentals, and luxury vacations; court freezes assets
Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) announced today that it charged Sidney S. [...]
NFA FINES INTERBANK FX LLC AND ITS PRINCIPAL $225,000
The NFA has charged Interbank FX LLC and its principal, Todd Crosland and Amanda Albretsen, a $225,000 fine for failing to execute its anti-money laundering program and for unsuccessfully supervising its electronic trading system, the Interbank’s activities, and the solicitation of non-Member solicitors.
The full text of the NFA press release is reprinted below, and can [...]
CFTC Seeks Public Comment on Possible Changes to Regulations for Investment of Funds Deposited with Clearing Organizations and Futures Commission Merchants
The Commodity Futures Trading Commission (CFTC) has approved for publication in the Federal Register an advance notice of proposed rulemaking seeking public comment on possible changes to its regulations regarding the investment of customer funds segregated pursuant to Section 4d of the Commodity Exchange Act and funds held in an account subject to Regulation 30.7.
Regulation [...]
CFTC Charges Florida Resident Michael J. Riolo and His Two Companies with Fraud in Alleged Multi-Million Dollar Foreign Currency Scam
The U.S. Commodity Futures Trading Commission (CFTC) today charged Michael J. Riolo of Boca Raton, Florida, and two companies he controls and owns, LaSalle International Clearing Corporation and Sterling Wentworth Currency Group, Inc., with fraudulently soliciting and receiving funds from members of the general public in an off-exchange foreign currency (forex) scam and providing their [...]
« go back — keep looking »