FOREX Traders Must Soon Be Registered to Continue Operations

The U.S. Commodity Futures Trading Commission (CFTC) has published the final regulations concerning off-exchange retail foreign currency transactions. The rules implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Food, Conservation, and Energy Act of 2008, which, together, provide the CFTC with broad authority to register and regulate entities wishing to serve as counterparties to, or to intermediate, retail foreign exchange (forex) transactions. Read more

L.A. Commodities Trading Firm Shut Down For Improper Commodity Pool Operations

The U.S. Commodity Futures Trading Commission (CFTC) announced that it obtained an emergency federal court order freezing the assets of a Los Angeles based commodities trading firm. The defendants are charged with solicitation fraud and misappropriation of customer funds in connection with the operation of a commodity pool. The allegations claim they fraudulently solicited over a million dollars from roughly 100 commodity pool participants to invest in commodity futures, foreign currency Read more

Insider Trading Results in Federal Conviction for Disney Employee

A woman accused of conspiring to sell secrets about finances at The Walt Disney Co. has pleaded guilty to conspiring to commit securities fraud and wire fraud charges. Prosecutors said a female employee of Disney fed information such as Disney’s quarterly earnings to her boyfriend, who tried to sell the inside tips to 33 investment companies She faces between four and 10 months. Her boyfriend already pleaded guilty in a deal that recommends he Read more