In September 2009, the NFA adopted Rule 2-45, which prohibits CPOs from making any direct or indirect loans or advances of pool assets to the CPO or any affiliated person
Continue Reading NFA Modifies Rule Prohibiting Commodity Pool Loans
Analysis of cutting-edge securities industry issues
In September 2009, the NFA adopted Rule 2-45, which prohibits CPOs from making any direct or indirect loans or advances of pool assets to the CPO or any affiliated person…
Continue Reading NFA Modifies Rule Prohibiting Commodity Pool Loans
In another example of regulators struggling with the general mandates of the Dodd-Frank Act, the CFTC was forced to delay a vote on establishing trading platforms for swaps. The new…
Its not often I write about criminal cases but this is one that all executives in the commodities industry need to know about. In Brooks v. United States, 681…
Continue Reading Energy Executives Convicted Of Sending False Reports To Industry Newsletters
You may remember that I previously wrote about the NFA’s proposals earlier this year to better monitor customer segregated funds after some high profile monitoring failures. The NFA recently began…
The NFA recently announced that it would provide a limited time relief to Bylaw 1101’s prohibition for members transacting business with unregistered persons. NFA Bylaw 1101 prohibits an NFA…
Continue Reading NFA Relaxes Certain Member Policing Requirements – For Now
In a recent award, a FINRA panel held that the use of a personal investment advisory questionnaire as a disclosure device was misleading and had the capacity to deceive. The…
Continue Reading Be Careful When Using Personal Investment Advisory Questionnaires
Ponzi schemes seem to be more and more common over the last few years. Whether the ponzi scheme is a multibillion dollar scheme, or a smaller scheme involving several thousand…
The CFTC announced today that it had a record enforcement year. The CFTC filed 102 enforcement actions in its fiscal year ended September 30, 2012, which is up slightly from…
Continue Reading CFTC’s Record Enforcement Year And Record Budget Request
By October 1, 2012, FCMs that are regulated by a U.S. prudential regulator or are also registrants of the SEC must have a designated Chief Compliance Officer under CFTC Regulation…
Continue Reading Certain FCMs Will Soon Be Required To Have Chief Compliance Officers
There is a general sentiment that arbitrations favor the defense. In fact, several years ago, there were several House and Senate bills supported by the trial lawyers that sought to…
Continue Reading Do FINRA Arbitrations Really Benefit The Industry?