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Regulatory Violations

This archive displays posts tagged as relevant to violations of rules and regulations government the financial markets and its participants. You may also be interested in the following pages:

Page 41 of 44

September 28, 2015

The CFTC ordered Michael E. Simmons and Global Consortiums, LLC, both of Fayetteville, Georgia, to pay a $360,000 penalty and restitution totaling $229,660 for committing fraud and misappropriation in connection with operating a commodity pool that offered leveraged or margined off-exchange foreign currency transactions.  CFTC

Tagged in: Regulatory Violations,

September 25, 2015

The CFTC has charged Safety Capital Management, Inc. and GNS Capital, Inc., both doing business as FOREXNPOWER, John Won, and Sungmi Kang with fraudulent solicitation of over $1.5 million from customers to trade off-exchange foreign currency and misappropriation of over $622,000 of customer funds.  CFTC

Tagged in: Foreign Exchange, Regulatory Violations,

September 17, 2015

The CFTC filed a complaint against Mintco LLC of Delray Beach, Florida, and its principals Stuart Rubin and Richard Q. Zimmerman, charging the defendants with unlawfully targeting low net-worth retail customers with telemarketing and off-exchange transactions for the purchase and sale of gold and other precious metals.  CFTC

Tagged in: Regulatory Violations,

May 14, 2015

The CFTC ordered Double Eagle Enterprises, LLC, Double Eagle Metals, and its owner Eric Arlt, all of Charlevoix, Michigan, to pay $700,000 for illegally offering off-exchange financed transactions in precious metals with retail customers, and failure to register as a Futures Commission Merchant with the CFTC.  CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Regulatory Violations,

May 11, 2015

The CFTC ordered Libero Commodities SA, an agricultural trading company, to pay $480,000 for failing to comply with its legal obligation as a reportable trader to submit weekly CFTC Form 304 Reports that show its call cotton purchases and sales, in violation of CFTC Regulation 19.02.  CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Regulatory Violations,

May 1, 2015

The CFTC ordered FCStone, LLC, headquartered in New York, NY, to pay a $140,000 penalty for failing to provide and maintain an adequate program of supervision and for failing to diligently supervise its employees.  CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Regulatory Violations,

April 30, 2015

The U.S. District Court for the Central District of California ordered Christopher Valois and Cynthia Wong, residents of Irvine, California, and their companies, Bertram Trade LLC and Churchhill Commodities Trading LLC, to pay $1.1 million for fraud and registration violations.  CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Regulatory Violations,

April 27, 2015

A federal court in Ft. Lauderdale, Florida ordered Inter-Global Currency & Precious Metals, LLC of Pompano Beach, Florida, and its owner, manager, and controlling person Stavros Papastavrou, of Delray Beach, Florida, to pay a civil monetary penalty of $100,000 and a restitution award of $447,342 for engaging in illegal, off-exchange precious metal transactions.  CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Regulatory Violations,

April 27, 2015

The CFTC charged My Global Leverage, LLC and its owner and managing member Toney Blondo Eggleston, who resides in Newport Coast, California, with engaging in illegal, off-exchange transactions in precious metals with retail customers on a leveraged, margined, or financed basis.  CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Regulatory Violations,

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