cftc

Business News: Agencies Invite Comment on a Proposal to Exclude Community Banks from the Volcker Rule

Washington DC – Five federal financial regulatory agencies on Friday invited public comment on a proposal that would exclude certain community banks from the Volcker Rule, consistent with the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). The Volcker Rule generally restricts banking entities from engaging in proprietary trading and from owning or sponsoring hedge … Continue reading Business News: Agencies Invite Comment on a Proposal to Exclude Community Banks from the Volcker Rule

CFTC News: Federal Court Orders Commodity Pool Operators to Pay More Than $23 Million in Restitution and Penalties for Fraud and Misappropriation of Investors Funds

Washington, DC — The Commodity Futures Trading Commission (CFTC) announced today that on December 3, a federal court in New York entered an Opinion and Order ( Opinion and Order) against defendants Haena Park, her companies Phaetra Capital GP LLC, Phaetra Capital Management LP, and Argenta Group LLC (collectively, Pool Defendants), requiring the firms to … Continue reading CFTC News: Federal Court Orders Commodity Pool Operators to Pay More Than $23 Million in Restitution and Penalties for Fraud and Misappropriation of Investors Funds

CFTC News: CFTC and State of Utah Amend Their Complaint Against Rust Rare Coin and Gaylen Rust to Charge Additional Defendants for Participating in $200 Million Salt Lake City Precious Metals Ponzi Scheme

Washington, DC — The Commodity Futures Trading Commission (CFTC) and the Utah Department of Commerce, Division of Securities, through its Attorney General (State of Utah) filed an amended complaint alleging that Denise Gunderson Rust (Denise Rust) and Joshua Daniel Rust (Joshua Rust) actively participated and aided and abetted, in a precious metals Ponzi scheme with … Continue reading CFTC News: CFTC and State of Utah Amend Their Complaint Against Rust Rare Coin and Gaylen Rust to Charge Additional Defendants for Participating in $200 Million Salt Lake City Precious Metals Ponzi Scheme

CFTC News: CFTC Charges Chicago-area Trader, Dro Kholamian, with Ongoing Forex and Commodity Fraud

Washington, DC — The Commodity Futures Trading Commission (CFTC) announced the filing of a civil enforcement action against Dro Kholamian of Barrington, Illinois, and his company, Blue Star Trading, LLC (Blue Star), an Illinois limited liability company with an office in Park Ridge, Illinois.  The CFTC Complaint charges that the Defendants fraudulently solicited potential clients … Continue reading CFTC News: CFTC Charges Chicago-area Trader, Dro Kholamian, with Ongoing Forex and Commodity Fraud

CFTC News: Federal Court Orders Defendants to Pay More Than $11 Million in Connection with Commodity Pool Fraud

Permanent injunction issued against Scott Allensworth d.b.a. Capital Growth Group Associates and Cobra Development Group, LLP, Robert J. Fusco, David Weddle in connection with two separate fraudulent commodity trading schemes Washington, DC — The Commodity Futures Trading Commission (CFTC) today announced an Order of default judgment and permanent injunction has been issued against defendants Scott … Continue reading CFTC News: Federal Court Orders Defendants to Pay More Than $11 Million in Connection with Commodity Pool Fraud

CFTC News: CFTC Wins Judgment against Commodities Trader, Mark R. Slobodnik, for Commodity Pool Fraud, Including Misappropriating Funds

Washington, DC — The Commodity Futures Trading Commission (CFTC) announced today that Defendant Mark R. Slobodnik of Libertyville, Illinois, has been ordered to pay approximately $370,000 in fines in connection with a $1.76 million commodity pool fraud operated under the name Blue Guru, LLC. Judge Manish Shah, of the U.S. District Court for the Northern … Continue reading CFTC News: CFTC Wins Judgment against Commodities Trader, Mark R. Slobodnik, for Commodity Pool Fraud, Including Misappropriating Funds

CFTC News: Commissioner Behnam Announces Members of the Market Risk Advisory Committee’s Interest Rate Benchmark Reform Subcommittee

Washington, DC — Commodity Futures Trading Commission (CFTC) Commissioner Rostin Behnam today announced the members of the Interest Rate Benchmark Reform Subcommittee (Subcommittee) of the CFTC’s Market Risk Advisory Committee (MRAC).  Commissioner Behnam is the sponsor of the MRAC. Thomas Wipf, Vice Chairman of Institutional Securities at Morgan Stanley, will chair the 21-member Subcommittee, which … Continue reading CFTC News: Commissioner Behnam Announces Members of the Market Risk Advisory Committee’s Interest Rate Benchmark Reform Subcommittee

Business News: CFTC Allows Additional UK Multilateral Trading Facilities to Operate without CFTC Registration as Exempt SEFs

Washington, DC — The Commodity Futures Trading Commission (CFTC) today issued an amended order that will allow an additional four multilateral trading facilities (MTFs) authorized within the European Union (EU) to be exempted from the requirement to register with the CFTC as swap execution facilities (SEFs). The amended order exempts four United Kingdom-based MTFs – … Continue reading Business News: CFTC Allows Additional UK Multilateral Trading Facilities to Operate without CFTC Registration as Exempt SEFs