The National Introducing Brokers Association (NIBA) was established in September of 1991 as a non-profit to help members find greater success in the derivatives industry and provide a voice in regulatory and industry matters. Former CFTC trial attorney and partner, Braden Perry, joined the NIBA advisory board in 2018 and has since been an annual
Investigate Midwest recently quoted Braden Perry, among other experts, in an article regarding Tyson Foods and their $1.5 million fine for controlling an illegal share of the futures market for soybean meal. For the last five years, Tyson Foods reported incorrect numbers and failed to maintain the required documentation of its market activities. This resulted
Mathew McDermott, Goldman Sachs head of digital assets, told Bloomberg in a recent interview that the bank is preparing to launch an ether futures and options trading platform for clients in the near future. Reportedly, Goldman is planning on offering an exchange-traded notes tracking the price of bitcoin, including other digital assets derivatives products. Kennyhertz
The Commodity Futures Trading Commission (“CFTC”) has announced Division of Enforcement staff-level guidance that outlines whether a company’s compliance program was reasonably designed and implemented to (i) prevent the underlying misconduct at issue; (ii) detect the misconduct; and (iii) remediate the misconduct. At all points, the Division will conduct a risk-based analysis, taking into consideration
Law360 featured Braden Perry, among other experts, in an article on Scotiabank feeling the wrath of a regulator scorned. Canada’s Bank of Nova Scotia, the U.S. Commodity Futures Trading Commission and federal prosecutors recently reached a settlement of $127 million over an alleged eight-year precious metals spoofing scheme. The Scotiabank was lauded by the CFTC
The Commodity Futures Trading Commission (CFTC) announced the filing of charges against 20 entities for making false and misleading claims of having CFTC registration and National Futures Association (NFA) membership required to offer services related to trading in foreign exchange (forex), digital assets, and derivatives. The complaints are listed below: Complaint & Notice: bitfx24option.com Complaint
A civil enforcement action was filed today in the U.S. District Court for the Eastern District of Missouri against Joshua Christian McDonald, and his company Perfection PR Firm LLC (PPR), by the Commodity Futures Trading Commission. McDonald’s company, out of California and Tennessee, was charged for an off-exchange foreign currency trading scheme of fraud and
On February 13th, the Commodity Futures Trading Commission (CFTC) announced a filing and charges against Matthew R. White of M.W. Global Futures LLC (MWGF) for fraud. MWGF requested and obtained money from six pool participants, and then went on to use the funds in his personal bank and trading accounts. Only a small amount of
On February 11th, Q3 Holdings, LLC and Q3 I, LP and its principal, Michael Ackerman, were charged with over $33 million in a fraudulent digital asset scheme by the U.S. District Court of the Southern District of New York. The Commodity Futures Trading Commission (CFTC) made public the complaint, alleging that the defendants performed fraud
Magnify Money posted an article today discussing binary options, and how to simplify the understanding of them. In short, binary options are a form of options trading that comes with one of two payoff options: a fixed amount or none at all. They are a financial instrument based on the value of an underlying asset,
On January 3, 2020, the NFA distributed a letter on behalf of the CFTC to all registrants. The letter addresses serious issues raised by the WSJ as it relates to cloud service providers that may have been compromised by a series of hacking attacks. The CFTC is requesting that any CPOs, CTAs, IBs and RFEDs
Perry, among other professionals, discusses high-profile Initial Coin Offerings “ICO” cases this year and potential effective regulatory clarity in the cryptocurrency industry in Finance Magnates article posted today. “The high-profile filings by the SEC show that they are increasing their scrutiny on the space,” said Braden Perry, Government Investigations and Corporate Governance Counselor at Kennyhertz
