A judge for the Southern District of New York has entered a final judgment by default against Gary Becker, Gregory Schaefer and the brokerage firm they controlled, Dillon Scott Securities.
The Financial Industry Regulatory Authority wants to give arbitrators the power to sound an alarm about matters before them that they feel present a serious, continuing and imminent threat to investors that is also in need of immediate attention.
The Commodity Futures Trading Commission has accused Orland, Fla.-based FX Professional International Solutions and its two principals with issuing false account statements to customers in connection with an alleged off-exchange foreign currency fraud.
The Commodity Futures Trading Commission is pushing ahead with plans to collect ownership, control and related information for all trading accounts active on U.S. futures exchanges and other reporting entities.
The Securities and Exchange Commission likely will have to rewrite parts of its planned update to Regulation AB in light of new securitization rules passed under the Wall Street reform legislation, according to Edward Gainor, partner at Bingham McCutchen.
The Commodity Futures Trading Commission has filed an enforcement action charging Phillip Milton, Gregory Center and William Center and their company, Palm Spring Gardens, Fla.-based Trade LLC, with running a Ponzi scheme in connection with the Trade commodity pool.
Global Electronic Trading Co., or Getco, has endorsed the Securities and Exchange Commission's plans to create a large trader reporting system, but has asked that the proposal be tweaked in such a way that would limit certain firms' oversight responsibilities.
Firms need to have better communication between their compliance, legal and audit departments, according to Ilene Marquardt, senior deputy general counsel with UBS Financial Services.
The Securities and Exchange Commission should consider adopting a futures markets mechanism to help control excessive price drops or spikes during volatile periods such as the one that struck during the May 6 flash crash, the Securities Industry and Financial Markets Association has suggested.
The Securities and Exchange Commission has dropped its case against Dipin Malla, a former registered representative of Aura Financial Services, who was one of several Aura reps accused last summer of being involved in churning and supervisory failures at the Alabama firm.
The Canadian Securities Administrators is planning to update its registration regime for firms and individuals who deal in securities, provide investment advice or manage investment funds--just months after new rules came into effect.
Frederic Krieger, the former head of the regulatory risk group at NYSE Regulation, has become general counsel of KGS-Alpha Capital Markets.
The National Futures Association should put in place procedures for verifying information that registrants provide in membership applications, after several firms were found to have registered under names that were not their legal names, according to a recent Commodity Futures Trading Commission report.
The Securities and Exchange Commission has approved a Financial Industry Regulatory Authority plan to extend certain Regulation NMS protections to the over-the-counter equities market.
The Securities and Exchange Commission has in an administrative proceeding suspended Blooming Grove, N.Y.-based Bruce Frank from appearing or practicing as an attorney before it, following allegations regarding his role in the sale of roughly $2.3 million in securities.