CFTC Archives - Compliancex

SEC Commissioner Hester Peirce: FTX’s Collapse Could Finally Be ‘Catalyst’ for Regulation

Jack J. Kelly Bankruptcy, CFTC, Cryptocurrency, Regulation, SEC November 14, 2022

The crumbling of crypto exchange FTX and its subsequent bankruptcy filing has brought much negative attention for the crypto industry. However, that may be just the wake-up call U.S. lawmakers need, said Hester M. Peirce, a commissioner at the Securities and Exchange Commission (SEC). Peirce, who joined CoinDesk TV ...Read More

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U.S. authorities probe FTX collapse, executives’ involvement

Jack J. Kelly Bankruptcy, CFTC, Commodity Futures Trading Commission, Cryptocurrency, Department of Justice, Investigation, SEC, Securities and Exchange Commission November 14, 2022

U.S. prosecutors in New York are probing FTX’s collapse, a source with knowledge of the investigations said, after the crypto exchange filed for bankruptcy protection last week following a rush of customer withdrawals. The Justice Department, Securities and Exchange Commission and Commodity Futures Trading Commission are ...Read More

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Beware of Messaging App Crackdown on Wall Street

Jack J. Kelly Audit, Broker Dealer, CFTC, Commodity Futures Trading Commission, Futures, SEC, Securities and Exchange Commission, Supervisory, Swaps, Wall Street October 5, 2022

On Sept. 27 the Securities and Exchange Commission and the Commodity Futures Trading Commission collectively announced a combined $1.8 billion in fines against more than two dozen Wall Street firms for failing to maintain and preserve electronic communications. The charges stem from record-keeping failures and use of unapproved communication methods, ...Read More

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Wall Street to Pay $1.8 Billion in Fines Over Traders’ Use of Banned Messaging Apps

Jack J. Kelly Banks, CFTC, Investigation, SEC, Securities and Exchange Commission, Trader, Trading September 28, 2022

Eleven of the world’s largest banks and brokerages will collectively pay $1.8 billion in fines to resolve regulatory investigations over their employees’ use of messaging applications that broke record-keeping rules, regulators said Tuesday. The firms include brokerage units of Bank of America Corp., Barclays PLC, Citigroup, Credit ...Read More

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SEC chair says cryptocurrencies are securities but would support CFTC oversight

Jack J. Kelly CFTC, Cryptocurrency, Securities and Exchange Commission September 9, 2022

U.S. Securities and Exchange Commission Chair Gary Gensler has reiterated today that he continues to believe that cryptocurrencies are securities but said he would support Congress giving oversight for the industry to the Commodity Futures Trading Commission. The comments by Gensler came during a ...Read More

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U.S. Senators seek to grant CFTC control over crypto regulation

Jack J. Kelly CFTC, Commodities, Congress, Cryptocurrency August 3, 2022

While financial authorities around the world are looking for opportunities to control the cryptocurrency sector, a United States Senate committee is planning to propose a bill that would place digital assets like Bitcoin (BTC) and Ethereum (ETH) under the jurisdiction of a regulator for commodities. Indeed, the bill, ...Read More

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CFTC Slaps CEO With Record $1.7 Billion Bitcoin Fraud Charge

Jack J. Kelly CFTC, Cryptocurrency, Fraud July 5, 2022

The CFTC might have caught the “biggest fish” in the ocean. And there could be more out there. The U.S. commodities watchdog announced Friday that it had lodged a civil suit against a South African CEO and his company for operating a bogus commodity ...Read More

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What’s going on with Binance? The low-down on the drama-ridden crypto exchange

Jack J. Kelly CFTC, Cryptocurrency, Investigation, Regulators August 16, 2021

Thanks to a wave of disgruntled customers and enthusiastic regulators, Binance has been garnering all the wrong types of attention over the past 24 months. Bloomberg reported in March that the firm was under investigation by the US Commodity Futures Trading Commission, with the ...Read More

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For a Sense of Gensler’s SEC, See His CFTC

Jack J. Kelly CFTC, Regulatory News and Developments, SEC March 5, 2021

In his highly anticipated Senate hearing this morning, SEC Chair candidate Gary Gensler presented tech savvy and powerful understanding of the regulatory challenges facing the crypto industry. Gensler’s opening statement stressed “strengthening transparency and accountability in our markets, so people can invest with confidence, and be ...Read More

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There’s A New Sheriff On Wall Street—Gary Gensler

Jack J. Kelly CFTC, SEC, Wall Street February 16, 2021

Wall Street has a new regulatory sheriff, Gary Gensler. The former Goldman Sachs partner, head of the Commodities Futures and Trading Commission (CFTC) and professor at MIT will become the next head of the Securities and Exchange Commission (SEC). Gensler’s estimated to be worth ...Read More

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