Fine

CFTC charges E-Slate Inc. and Director

Reason: Engaged in fraudulent activities.Date: 12/10/2017Amount: 0.00Link: http://www.cftc.gov/PressRoom/PressReleases/pr7628-17

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FCA fines and bans wife and bans husband financial advisor for lack of integrity

Reason: Engaged in Abusive PracticesContent of Penalty: Mr and Mrs Chiesa were founding partners of Westwood Independent Financial Planners (Westwood), a firm authorised by the FCA to provide personal investment advice. Following action taken by the Financial Conduct Authority in May 2011 over mis-selling of geared traded endowment policies (GTEP products), Westwood became insolvent and went into sequestration, the term ...

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ASIC issued an infringement notice to an ASX-listed company Bellamy’s Australia Limited (Bellamy’s)

Reason: for an alleged failure by Bellamy’s to comply with its continuous disclosure obligations.Date: 11/10/2017Amount: 66000.00Link: http://asic.gov.au/about-asic/media-centre/find-a-media-release/2017-releases/17-342mr-bellamys-pays-penalty-for-alleged-continuous-disclosure-breach/

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The U.S. Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against Arab Global Commodities DMCC (AGC)

Reason: for engaging in the disruptive trading practice of “spoofing” in the copper futures contract traded on the Commodity Exchange, Inc. (COMEX) between March and August 2016.Date: 10/10/2017Amount: 0.00Link: https://www.leaprate.com/financial-services/fines/arab-global-commodities-dmcc-fined-us-copper-futures-spoofing/

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Grace Reisinger and ROF Consulting ordered to pay more than $2 million

Reason: Grace Elizabeth Reisinger of Grand Island, Nebraska and her company ROF Consulting, LLC (ROF) for operating a fraudulent commodity pool scheme.Content of Penalty: The Order, entered on October 4, 2017, requires Reisinger to pay restitution of $497,893.88 to defrauded pool participants and to disgorge $153,355.04.  The Order requires ROF to disgorge $344,108.30. The Order also imposes a total of ...

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Melbourne man sentenced to 5 years jail for role in hundred-million dollar home loan fraud conspiracy

Reason: Mr Shah’s is sentenced to 5 years jail for the creation and use of false documents to support loan applications valued at a total of approximately $170 million.Date: 09/10/2017Link: http://asic.gov.au/about-asic/media-centre/find-a-media-release/2017-releases/17-337mr-melbourne-man-sentenced-to-5-years-jail-for-role-in-hundred-million-dollar-home-loan-fraud-conspiracy/

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CFTC issued a penalty against Orders Logista Advisors LLC

Reason: for Supervision Failures Related to Spoofing on a Foreign Futures ExchangeContent of Penalty:  The Order finds that, from approximately September 2013 through October 2014, Logista failed to diligently supervise the handling by its employees and officers of commodity interest accounts and other activities relating to Logista’s business as a CFTC registrant, particularly in connection with its former employee’s improper ...

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CFTC fines Morgan Stanley & Co. LLC for supervision failures

Reason: For failing to diligently supervise the reconciliation of exchange and clearing fees with the amounts it ultimately charged customers for certain transactions on the CME Group, ICE Futures US, and other exchanges. Comment: The Order explains that customer transactions executed on exchanges are subject to payment of exchange and clearing fees that are applied to each transaction in the ...

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CFTC fines Morgan Stanley & Co. LLC for supervision failures

Reason: For failing to diligently supervise the reconciliation of exchange and clearing fees with the amounts it ultimately charged customers for certain transactions on the CME Group, ICE Futures US, and other exchanges. Comment: The Order explains that customer transactions executed on exchanges are subject to payment of exchange and clearing fees that are applied to each transaction in the ...

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