Last week, the Commodity Futures Trading Commission required a futures commission merchant to pay a fine of US $2.5 million to resolve charges it failed to supervise a response to a CME Group investigation when the FCM relied on an affiliate’s analysis of the affiliate’s own block trades – and the analysis turned out to be misleading. Separately, the FCM's affiliate agreed to pay an additional fine of US $2.5 Million in connection with an investigation by the US Attorney's Office for the Western District of North Carolina for trading ahead of customers in connection with block trades. Also, the CFTC dramatically expanded its footprint in the oversight of cryptocurrencies when it brought an enforcement action against two persons in connection with an alleged Ponzi scheme involving Bitcoin. Importantly, the CFTC's complaint included no allegations regarding futures or swaps. As a result, the following matters are covered in this week’s edition of Bridging the Week:
Gary DeWaal is currently Special Counsel with Katten Muchin Rosenman LLP in its New York office focusing on financial services regulatory matters. He provides advisory services and assists with investigations and litigation.
September 24, 2017
September 17, 2017
September 10, 2017
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