Commodity Futures Trading Commission

New Report Reveals NetSfere Resolves Banking Workplace Communication Issues Amid Billion-Dollar SEC Fines

Retrieved on: 
Monday, March 6, 2023
Barclays, Workplace, WhatsApp, IMessage, IP, Morgan Stanley, JPMorgan Chase, Bank of America, Goldman Sachs, Wall Street, Government, Commodity Futures Trading Commission, S&P Global, Citigroup Global Markets Japan, Contract management, Organization, Research, Bank, Deutsche Bank, Mobile phone, Cryptocurrency

The report1 states that the SEC imposed fines totaling $1.1 billion on 16 firms.

Key Points: 
  • The report1 states that the SEC imposed fines totaling $1.1 billion on 16 firms.
  • The Commodity Futures Trading Commission imposed an additional $710 million in fines on 11 financial firms for violating recordkeeping provisions of the federal securities laws.
  • The SEC fines are just one way the government is pushing to eliminate consumer-grade messaging apps in the workplace.
  • “Banking institutions can ensure complete security and compliance by enlisting fully encrypted, zero-trust security policies and practices within their staff.

AEGIS SEF Continues Momentum in February

Retrieved on: 
Wednesday, March 1, 2023
Banking, Professional Services, Finance, Contract management, Ontario Securities Commission, AEGIS, Commodity, CTA, Commodity Futures Trading Commission, Commodity market, Participation, Swap Execution Facility, Record, Documentation, Dodd–Frank Wall Street Reform and Consumer Protection Act, Financial services, Cryptocurrency, Financial adviser

AEGIS SEF now has 15 financial counterparties (“Dealers”) and nearly 300 commercial end users (“Participants”) executing hedging transactions through AEGIS SEF.

Key Points: 
  • AEGIS SEF now has 15 financial counterparties (“Dealers”) and nearly 300 commercial end users (“Participants”) executing hedging transactions through AEGIS SEF.
  • “We are proud to host a mix of U.S. money center and regional banks, Canadian banks, and merchant traders with approximately $1.50 trillion of market capitalization on AEGIS SEF,” said Justin McCrann, President of AEGIS SEF.
  • “These exemptions will pave the way for Canadian dealers to fully participate on AEGIS SEF, build on current liquidity, and better serve commercial end users,” said Andrew Furman, Chief Compliance Officer of AEGIS SEF.
  • For more information on AEGIS SEF or if you are interested in executing hedges on AEGIS SEF, please visit https://www.aegis-hedging.com/swap-execution-facility .

SEC Charges Options Clearing Corporation with Rule Failures

Retrieved on: 
Thursday, February 16, 2023
Policy, Commodity Futures Trading Commission, Risk, Options Clearing Corporation, OCC, Element, SCI, Security (finance), Contract management, Commission, Failure, Regulation, Chicago Region Environmental and Transportation Efficiency Program, Risk management, Financial adviser, Cryptocurrency

Washington, D.C.--(Newsfile Corp. - February 16, 2023) - The Securities and Exchange Commission today announced that The Options Clearing Corporation (OCC) will undertake remedial efforts and pay $17 million in penalties to settle charges that it failed to comply with its SEC-approved Stress Testing and Clearing Fund Methodology rule during certain times between October 2019 and May 2021.

Key Points: 
  • Washington, D.C.--(Newsfile Corp. - February 16, 2023) - The Securities and Exchange Commission today announced that The Options Clearing Corporation (OCC) will undertake remedial efforts and pay $17 million in penalties to settle charges that it failed to comply with its SEC-approved Stress Testing and Clearing Fund Methodology rule during certain times between October 2019 and May 2021.
  • The SEC’s order further finds that OCC failed to modify its Comprehensive Stress Testing System and did not provide timely notification to the SEC of this failure as required by Regulation SCI.
  • "OCC is the sole registered clearing agency for exchange listed option contracts in the United States," said Chair Gary Gensler.
  • The SEC appreciates the assistance of the Commodity Futures Trading Commission.

Patomak Promotes Sommers and Hires New Senior Advisor and Communications Lead

Retrieved on: 
Thursday, February 2, 2023
Consulting, Banking, Professional Services, Finance, U.S. Chamber of Commerce Building, Organization, CFIUS, Government, Senior advisor, Communication, Marketing, Global Partners, Contract management, National Futures Association, News, Asian Development Bank, White House, Commerce, Treasury, Risk management, Commodity Futures Trading Commission, Tribune Broadcasting, Social media, Financial adviser

Patomak Global Partners is proud to announce that Jill Sommers has become Chair of Patomak’s growing Derivatives Practice Group.

Key Points: 
  • Patomak Global Partners is proud to announce that Jill Sommers has become Chair of Patomak’s growing Derivatives Practice Group.
  • The firm also welcomes Jason Chung as Senior Advisor and Sabrina Fang as the new head of communications.
  • She will lead a team of colleagues with complementary experiences from the industry and the National Futures Association.
  • “Sabrina’s communications experience and journalism background make her the perfect person to lead our communications efforts,” Atkins said.

David Castleman Joins Otterbourg as Member in the Restructuring and Bankruptcy Department

Retrieved on: 
Monday, January 30, 2023
Consulting, Legal, Professional Services, Finance, Climate change, Bankruptcy, Strategic planning, University of Pennsylvania Law School, Law review, Contract management, Coif, Castleman, Fraud, Cornell Law Review, United States bankruptcy court, Charles Ponzi, University, Commodity Futures Trading Commission, Private law, Martin Act, Cryptocurrency

announced today that David Castleman has joined the firm as a member in the Restructuring and Bankruptcy Department.

Key Points: 
  • announced today that David Castleman has joined the firm as a member in the Restructuring and Bankruptcy Department.
  • He comes to Otterbourg from Raines Feldman LLP, where he was a partner.
  • Mr. Castleman’s practice focuses on federal equity receiverships and complex litigation in both state and federal courts.
  • “He brings unique skills to Otterbourg that enhance our bankruptcy practice and expands the range of complex cryptocurrency services we provide.

United States Hardware Wallet Markets, Competition, Forecast & Opportunities, 2022-2028: Increasing Investments in Cryptocurrency Based Devices and Increasing Use of NFC - ResearchAndMarkets.com

Retrieved on: 
Monday, January 23, 2023
Technology, Mobile, Wireless, Hardware, Security, Bitcoin, Commodity Futures Trading Commission, Olio Model One, Internal Revenue Service, IRS, Samsung, Digital wallet, CFTC, V20, Investment, System, Average revenue per user, Market, Daou Technology Inc., Blockchain, Cryptocurrency, PayPal, ARCHOS, Growth, Near-field communication, USB, Hacking, Bluetooth, Ethereum, Ledger, Renault Trezor

United States Hardware Wallet market is anticipated to grow at double digit CAGR of 26.5% with demand for highly transparent distributed ledger technology in the commercial sector driving market growth.

Key Points: 
  • United States Hardware Wallet market is anticipated to grow at double digit CAGR of 26.5% with demand for highly transparent distributed ledger technology in the commercial sector driving market growth.
  • Also, a massive increase in investments in hardware powered by cryptocurrencies is anticipated to drive the hardware wallet market's growth.
  • A hardware wallet is one of the critical components of a blockchain database designed to store a user's private keys in a secure wallet.
  • The market for hardware wallets is anticipated to be constrained given the rules already in place against cryptocurrencies hence hindering the growth of United States hardware wallet market.

Pugsley Wood LLP Announces New Partner John H. Sutter

Retrieved on: 
Thursday, February 2, 2023
Commodity Futures Trading Commission, Senior counsel, Charles Ponzi, Culture, Security (finance), Contract management, Boston University School of Law, Partnership, Counsel

BOSTON, Feb. 2, 2023 /PRNewswire/ -- Pugsley Wood LLP is pleased to announce that John H. Sutter has been elected to the Firm's partnership. Mr. Sutter has been Of Counsel with the firm since its founding in 2022.

Key Points: 
  • BOSTON, Feb. 2, 2023 /PRNewswire/ -- Pugsley Wood LLP is pleased to announce that John H. Sutter has been elected to the Firm's partnership.
  • Mr. Sutter has been Of Counsel with the firm since its founding in 2022 .
  • "John is an immensely talented attorney, whose diverse background in whistleblower representation, securities litigation, and corporate M&A makes him an incredible asset to our growing partnership.
  • Pugsley Wood Partner Mark Pugsley added, "John has consistently demonstrated a deep understanding of both complex corporate structures and securities regulation.

GovCIO Wins $139M Contract for Commodity Futures Trading Commission Core Infrastructure Operations and Maintenance and Support Services

Retrieved on: 
Thursday, February 2, 2023
Administration, Human, Health, CFTC, Contract management, Commission, Engineering, Data, Partnership, Commodity Futures Trading Commission, Computer Support Services, Management, Maintenance

WASHINGTON, Feb. 2, 2023 /PRNewswire/ -- GovCIO has been awarded a $139M contract from the Commodity Futures Trading Commission (CFTC) for Core Infrastructure Operations and Maintenance and Support Services (CIOMSS).

Key Points: 
  • WASHINGTON, Feb. 2, 2023 /PRNewswire/ -- GovCIO has been awarded a $139M contract from the Commodity Futures Trading Commission (CFTC) for Core Infrastructure Operations and Maintenance and Support Services (CIOMSS).
  • On this 10-year contract, GovCIO, in partnership with CFTC Division of Administration IT Branch (DAIT), will provide best in class IT Support Services (ITSS) to manage, operate, maintain, support and improve CFTC's robust IT enterprise, services, and processes.
  • GovCIO will provide day to day operational IT services necessary for CFTC users of voice, video, and data systems.
  • "We are honored to support the Commission's existing and emerging mission objectives through fast and effective delivery of IT infrastructure operations and user support" said Rebecca Miller, GovCIO Sector President, Health and Civilian Services.

United States Hardware Wallet Market Analysis Report 2022-2028 - Massive Increase in Investments in Hardware Powered by Cryptocurrencies to Drive Demand/Growth

Retrieved on: 
Tuesday, January 24, 2023
Bitcoin, System, Digital wallet, Olio Model One, PayPal, Commodity Futures Trading Commission, Internal Revenue Service, IRS, Cryptocurrency, Blockchain, Near-field communication, ARCHOS, Hacking, Growth, Daou Technology Inc., CFTC, Market, V20, Average revenue per user, USB, Investment, Samsung, Renault Trezor, Bluetooth, Ethereum, Ledger

United States Hardware Wallet market is anticipated to grow at double digit CAGR of 26.5% with demand for highly transparent distributed ledger technology in the commercial sector driving market growth.

Key Points: 
  • United States Hardware Wallet market is anticipated to grow at double digit CAGR of 26.5% with demand for highly transparent distributed ledger technology in the commercial sector driving market growth.
  • Also, a massive increase in investments in hardware powered by cryptocurrencies is anticipated to drive the hardware wallet market's growth.
  • A hardware wallet is one of the critical components of a blockchain database designed to store a user's private keys in a secure wallet.
  • The market for hardware wallets is anticipated to be constrained given the rules already in place against cryptocurrencies hence hindering the growth of United States hardware wallet market.

King & Spalding Adds Global Investigations Partner Olivia Radin in New York

Retrieved on: 
Wednesday, January 18, 2023
Transport, Security (finance), Public Company Accounting Oversight Board, United States Court of Appeals for the Second Circuit, Government, Culture, Harvard University, Morgan Stanley, Smart contract, Justice, New York State Department of Financial Services, King & Spalding, Columbia Law School, Lawyer, Collaboration, California Department of Justice, Fraud, Commodity Futures Trading Commission, Court of appeal (Belgium), Financial services, Private investigator, Freshfields Bruckhaus Deringer

NEW YORK, Jan. 18, 2023 /PRNewswire/ -- King & Spalding announced today that Olivia Radin has joined the firm as a partner on its Special Matters and Government Investigations team.

Key Points: 
  • NEW YORK, Jan. 18, 2023 /PRNewswire/ -- King & Spalding announced today that Olivia Radin has joined the firm as a partner on its Special Matters and Government Investigations team.
  • "Olivia is a world-class lawyer, builder and leader who expands and deepens our global investigations and disputes capabilities," said Mark Jensen, leader of the firm's Special Matters and Government Investigations team.
  • Radin joins the firm from Freshfields, where she was managing partner of the New York office and a member of its global board.
  • "The impressive trajectory of King & Spalding, its government investigations team and its New York office, as well as its culture of collaboration and high performance, will help expand the ways I can serve clients with their investigations and disputes," said Radin.