In an order entered October 29, 2021, the Securities and Exchange Commission (“SEC”) fined Fixed Income Clearing Corporation (“FICC”) $8,000,000 and set additional documentation and compliance requirements for FICC’s operation over the next three years. FICC is a...
The Commodity Futures Trading Commission (“CFTC”) fined iFinex Inc., BFXNA Inc., and VFXWW Inc. (collectively, “Bitfinex”) $1,500,000 for offering financed retail commodity transactions sans regulations by a board of trade designated or registered by the CFTC....
Payment Ventures, Inc., doing business as Kraken (“Kraken”), entered into an order with the Commodities Futures Trading Commission (“CFTC”) on September 28, 2021 in connection with Kraken’s actions as an unregistered commodity exchange or futures commission merchant...
The Commodity Futures Trading Commission (“CFTC”) fined Interactive Brokers LLC (“Interactive Brokers”) $1,750,000 and required Interactive Brokers to pay restitution of $82,570,000 to customers for trading system failures. Interactive Brokers failed to prepare its...
On 27 and 28 September 2021 the Commodity Futures Trading Commission (“CFTC”) entered into settlements with each of Refinitiv US SEF LLC (“Refinitiv”) and Respondent Symphony Communication Services, LLC (“Symphony”) for two disparate violations of regulations...
In three enforcement orders entered between 27 September and 29 September, the Commodity Futures Trading Commission (“CFTC”) showed its attention to swap dealers’ failures to report or disclose information required by regulation. Provisionally registered swap dealers...
