Biden administration selects former CFTC head for SEC chairman role
Gary Gensler becomes chairman of the Securities and Exchange Commission (SEC) bringing with him over 25 years of industry experience.
Tag: CFTC
ESMA reports huge €78 million increase in market abuse sanctions in 2019
The EU regulator said that a total of €88 million in fines relating to 339 actions under the market abuse regulation were imposed in 2019, up from €10 million in 2018.
CFTC chair Tarbert to step down early next year
Heath Tarbert was appointed chair and commissioner of the CFTC in 2019 and will resign as chair when Joe Biden takes office in 2021.
Data
US authorities urged to investigate ‘illegal’ changes to CME market data fee policies
EDI has called on the CFTC, House of Representatives, and the US Senate to investigate fee changes at CME Group that would increase costs each year for the firm.
US derivatives watchdog issued highest number of enforcements in its history during 2020
The CFTC set a new record for the number of enforcements during 2020 totalling $1.3 billion, despite operating through the pandemic.
CFTC releases no-action letters offering further relief for clearing organisations during Libor transition
The two no-action letters will offer swap transaction and pricing data reporting relief to clearing organisations transitioning to SOFR.
JP Morgan hit with record $920 million penalty after admitting eight-year spoofing scheme
The US Department of Justice, CFTC, and SEC confirmed parallel actions against JP Morgan resulting in a record penalty for the years-long spoofing and manipulation activity.
Citi to pay $4.5 million penalty after subpoenaed trader audio files were deleted
A known design flaw in an audio preservation system at Citi saw 2.77 million audio files, some of which had been subpoenaed by the US CFTC, erased.
CFTC provides additional Libor transition relief to swaps participants
The latest no-action letters issues by the CFTC follow the regulator’s move to provide market participants relief in December.
Bank of Nova Scotia to pay $127 million in record spoofing settlement
US derivatives regulator said the settlement with Bank of Nova Scotia for spoofing and making false allegations is a record penalty.