The latest penalties and censures articles from FX Week

Man Financial fined by CFTC for poor supervision

Wed, 04 Aug 2010 11:51:13 GMT

WASHINGTON DC – Man Financial is paying almost $316,000 in penalties for failing to effectively supervise staff.

CFTC stings Pioneer for record-keeping lapses

Wed, 04 Aug 2010 11:51:13 GMT

WASHINGTON, DC – The US Commodity Futures Trading Commission has fined futures commission merchant Pioneer Futures $25,000 in civil penalties, for failing to keep up-to-date records.

Forefront Investments faces suit from CFTC

Wed, 04 Aug 2010 11:51:13 GMT

FX Week

WASHINGTON DC – The US Commodity Futures Trading Commission (CFTC) has filed a complaint against Richmond, Virginia-based futures broker Forefront Investments, for failing to hold adequate net capital.

CFTC charges unregulated futures brokers

Wed, 04 Aug 2010 11:51:13 GMT

FX Week

WASHINGTON DC – The US futures regulator is continuing to battle FX fraud in the country, with charges hitting unregulated FX futures brokers and online retail trading platforms.

Mifid and forex in a nutshell

Wed, 04 Aug 2010 11:51:13 GMT

FX Week

The Markets in Financial Instruments Directive is placed under the microscope by Richard Hartheimer , managing director at Currenex, Europe in London

In brief...

Wed, 04 Aug 2010 11:51:13 GMT

FX Week

BNP Paribas wins sex discrimination case

Wed, 04 Aug 2010 11:51:13 GMT

FX Week

The London Central Employment Tribunal has unanimously dismissed the high-profile case brought against BNP Paribas by former FX salesperson Katharina Tofeji.

Another instalment in the Refco saga...

Wed, 04 Aug 2010 11:51:13 GMT

FX Week

NEW YORK – Trusts representing Refco creditors and customers have filed a lawsuit for more than $500 million against the defunct futures broker's legal and accounting advisers.

Forex settlement risk: banks look beyond CLS

Wed, 04 Aug 2010 11:51:13 GMT

FX Week

Rick Schumacher, director of products at Wall Street Systems in New York, evaluates the foreign exchange market's alternatives to CLS

US futures regulator regains $1.8 billion

Wed, 04 Aug 2010 11:51:13 GMT

FX Week

WASHINGTON, DC - US futures regulatory body, the Commodity Futures Trading Commission (CFTC), has retrieved $1.8 billion from convictions in the five years ending September 30.

FxTrade fined $9.9 million for fraud

Wed, 04 Aug 2010 11:51:13 GMT

FX Week

WASHINGTON, DC - The US District Court for Tennessee found Gordon Jack Vandeveld, a broker at Tennessee firm FxTrade Financial, guilty of futures fraud on December 12.

CFTC stays quiet on forex scam

Wed, 04 Aug 2010 11:51:13 GMT

FX Week

WASHINGTON DC - The United States Commodity Futures Trading Commission (CFTC) said it could neither "confirm nor deny" the existence of an investigation by its offices into a US man who allegedly defrauded investors millions of dollars.

Nothing beats a good trading scandal

Wed, 04 Aug 2010 11:51:13 GMT

FX Week

The past week has produced a frenzy of headlines, from the FTSE index hitting seven-year lows and the Federal Reserve's surprise 75 basis point rate cut, to the billions of dollars in writedowns at major dealers. But nothing grabs the attention as much as a good old-fashioned trading scandal.

Texan FX trader fined $3m over misleading website

Wed, 04 Aug 2010 11:51:13 GMT

FX Week

WASHINGTON, DC & TEXAS - The Commodity Futures Trading Association (CFTC) has collected more than $3 million in civil money penalties and restitution monies from anti-fraud action against a Texas-based foreign exchange trader.

CFTC slams Alaron Trading

Wed, 04 Aug 2010 11:51:13 GMT

FX Week

CHICAGO - Chicago-based futures trading company Alaron Trading is due to pay $299,000 in penalties by today (April 28) for failing to supervise employees.

SEC cracks down on Ponzi scheme

Wed, 04 Aug 2010 11:51:13 GMT

FX Week

WASHINGTON, DC - The Securities and Exchange Commission is cracking down on an alleged $27.9 million Ponzi scheme involving foreign exchange trading firm Gold-Quest International (GQI).

Euro threat remains, says UK's House of Lords

Wed, 04 Aug 2010 11:51:13 GMT

FX Week

LONDON - The euro has managed to avoid an initial quick collapse predicted by many, but the threat has not yet passed, according to the UK's House of Lords.

Another FX trader fined

Wed, 04 Aug 2010 11:51:13 GMT

FX Week

STOCKHOLM - Sweden's financial regulator has imposed a maximum penalty on Forex Bank for insufficient money laundering controls, signalling a global clampdown by regulators on risk management failings at retail foreign exchange institutions.

Iosco turns spotlight on commodities

Wed, 04 Aug 2010 11:51:13 GMT

FX Week

WASHINGTON, DC - The US Commodity Futures Trading Commission (CFTC) and the UK Financial Services Authority (FSA) are to lead an international regulators' group overseeing the commodity markets.

CFTC fines FX fraudsters $24m

Wed, 04 Aug 2010 11:51:13 GMT

FX Week

WASHINGTON, DC - The Commodity Futures Trading Commission (CFTC) has obtained orders for five traders to pay $11.7 million in restitution and disgorgement, and $12.25 million in civil monetary penalties for selling and soliciting illegal foreign exchange futures contracts.

News In brief

Wed, 04 Aug 2010 11:51:13 GMT

FX Week

CFTC fines OTC traders $12m

Wed, 04 Aug 2010 11:51:13 GMT

FX Week

WASHINGTON, DC - The Commodity Futures Trading Commission (CFTC) will secure $12 million in penalties from three traders and their six businesses for an over-the-counter forex options scam.

NFA bans One World Capital

Wed, 04 Aug 2010 11:51:13 GMT

FX Week

Shuster fined by CFTC following guilty verdict

Wed, 04 Aug 2010 11:51:13 GMT

FX Week

CFTC clamps down on $1.2m FX scam

Wed, 04 Aug 2010 11:51:13 GMT

FX Week