CFTC Chairman Nominee to Face Senate Panel

Acting CFTC Chairman J. Christopher Giancarlo moves one step closer to heading the agency on a permanent basis as the Senate Agriculture Committee considers his nomination June 22. The CFTC has been operating with two commissioners since the beginning of the year, and while Giancarlo’s confirmation as permanent chairman wouldn’t change that, it would give […]

How to survive an SEC exam

Advisers might not relish the prospect of an SEC exam, but think of it as a trip to the dentist: there are certain steps to take that can help prevent a routine checkup from turning into a triple root canal. SEC officials offered guidance on how to prepare for an exam at a forum this […]

Cheat sheet: Treasury’s extensive reg relief wishlist

WASHINGTON – The Treasury Department released its highly-anticipated report on revamping financial industry regulations late Monday, including many expected recommendations while also offering up some surprises. In some respects, the report echoes a bill passed by the House last week, including a leverage ratio “off-ramp” from many post-crisis rules, a significant paring back of the […]

HOW TO SPOT THE LIES FINANCIAL ADVISERS TELL

When it comes to getting advice—especially financial advice—truth can be such a relative thing. If you’re an individual investor, you probably know exactly what I mean. And the federal government isn’t exactly helping. The administration just killed a fiduciary rule that would have required commission-based brokers and insurance agents to disclose conflicts of interest and […]

The Fading Fortunes of John Paulson

John Paulson (Trades, Portfolio) was once a darling of Wall Street, having handsomely profited because of his smart bets on the subprime crisis while many of his counterparts suffered. Today, though, he’s struggling, after experiencing three successive years of double-digit losses. What was a $36 billion portfolio six years ago now struggles to get over […]

CFTC Moves to Protect Whistleblowers and to Make Claims and Awards Easier

On May 22, 2017, the U.S. Commodity Futures Trading Commission (Commission or CFTC) announced important changes to its whistleblower program, aiming to encourage more whistleblowers to come forward by enhancing anti-retaliation protections and relaxing eligibility requirements.1 The rule amendments also largely harmonize the Commission’s whistleblower framework with the Security Exchange Commission’s (SEC) program. In 2010, […]

U.S. unemployment rate hits 16-year low in May

In 2016, 32,000 new jobs were an average monthly gain in the healthcare industry as compared to the 22,000 jobs per month in the year 2017. Average hourly earnings were up by 2.5 percent from the previous year to $26.22, continuing a streak of relatively weak wage growth. Yet even about 100,000 payroll additions a […]

CFTC hits forex broker Tallinex with lawsuit

The US Commodity Futures Trading Commission (CFTC) has filed a lawsuit against offshore forex broker Tallinex for accepting clients from the US without having a license. According to the site Law360, CFTC claims that in the period September 2012 – September 2016 the broker violated the Commodity Exchange Act and agency rules by not registering […]

CFTC starts legal action against retail FX broker Tallinex

CFTC seeks permanent injunction, civil monetary penalties and other forms of relief for defendants Offering retail Forex services to US clients without having the necessary registration with the US regulators is a law violation and a broker may be prosecuted for it. The United States Commodity Futures Trading Commission (CFTC) has just demonstrated again that […]