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Bridging the Week by Gary DeWaal: July 20 - 24 and 27, 2015 (27 Enforcement Actions; More MF Global; Lawyer Settles with CFTC; Dodd-Frank Five Years Later; Capital Requirements)
Twenty-seven disciplinary proceedings brought by the CME Group – touching upon EFRPs, transfer trades, money passes, position limits, block trades and disruptive practices – provided an abrupt reminder that a failure to comply with relatively technical rules can result in fines as well as corporate distraction while employees address regulatory inquiries and actions. Moreover, the book on the fate of customers, secured creditors and unsecured creditors of MF Global, Inc., the defunct FCM that went belly-up in 2011, appears to be finally closing with a relatively good outcome under the circumstances. As a result, the following matters are covered in this week’s edition of Bridging the Week:
- FC Stone Companies and Goldman Sachs Receive Largest Fines in CME Group’s 27 Disciplinary Actions Cascade (includes Compliance Weeds);
- Defunct FCM MF Global to Pay Unsecured Creditors up to 95% of Their Allowed Claims (includes My View);
- Florida Lawyer Settles CFTC Complaint Charging He Aided and Abetted His Clients’ Unlawful Precious Metals Schemes;
- optionsXpress Sanctioned by FINRA for Not Adjusting Open Share Orders to Reflect Dividends;
- ISDA Reflects on Dodd-Frank Implementation Five Years Later (includes My View);
- Three Industry Organizations Warn of Potential Negative Impact of Extending Capital Requirements to European Commodity Dealers; and more.
Click here to access the video and article versions of this week’s version of Bridging the Week.
Did you miss last week’s edition of Bridging the Week? Click here to access. Click here to access the most current edition of Corporate and Financial Weekly Digest by Katten Muchin Rosenman LLP.
For further information, contact:
Gary DeWaal
Katten Muchin Rosenman
575 Madison Avenue
New York, New York
(212) 940-6558
gary.dewaal@kattenlaw.com
MiFID II for U.S. Persons: This week, the FIA will sponsor a seminar in New York City entitled, “What Every U.S. Market Participant Should Know about MiFID II.” The session will be held at 3 pm on June 28 at The Downtown Association. (Click here for details.) An encore session will be held in Chicago on July 30 at 3 pm in the Willis Tower. (Click here for details.)
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