Turtle Week In Review

Here is what happened on Turtle Soup the trading week ending 02/04/2011:

Bad Bank List Increases To 949 Institutions - Just in case you thought regulators were not still keeping a watchful eye on the banks... they are.

Episcopal Pastor Accused of Forex Ponzi Scheme By CFTC Is Arrested - Thou shalt not steal or the CFTC will pass judgement on you.

 

ORC Trading Announces FIX-based API Connectivity to Solid FX - Orc’s specialized product for ultra-low latency, high-frequency arbitrage and spread trading.

 

Is The ADP Jobs Report A Reliable Predictor Of Non Farm Payroll Numbers? - Does Wednesday's ADP report foretell NFP on Friday?

 

This was a busy day!

NFA & CFTC Secretly Investigate 16 Forex Brokers - Looks like FXCM, GAIN Capital, and Ikon Global Markets may be in a little bit of trouble.

SEC Sues Stock Spammers - If you spam the SEC will getcha!

Audio Interview With Forex International Trading Corp. - Darren Dunckel talks about how FITC is using affiliates to market their trading platform.

 

CFTC Orders Crossfire Trading To Pay $84 Million - The CFTC announced that it obtained more than $84 million in disgorgement and civil monetary penalties in a federal summary judgment order against defendants Charles E. Hays and his company, Crossfire Trading, LLC (Crossfire), both of Rosemount, Minnesota. 

 

Hope to see you next week.  Happy trading! 

 

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Posted on February 4, 2011 15:52 by Tom Herod
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SEC Sues Stock Spammers

The Federal Trade Commission’s CAN-SPAM Act is sort of like the do-not-call list of email marketing.

Promoter Francis Tribble and former China World Trade Corp. CEO How Wai Hui pleaded to criminal CAN-SPAM charges, according to a Securities and Exchange civil lawsuit that accuses the two men and a slew of corporate insiders of working pump-and-dump schemes that improperly unloaded millions of shares in several companies.

 

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Posted on February 3, 2011 10:57 by Tom Herod
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SEC Accuses Boston Currency Traders of Defrauding Investors of $40 Million

Bloomberg - The U.S. Securities and Exchange Commission sued two currency traders and their Boston-based firm, claiming they defrauded investors by sending misleading account statements while diverting funds for personal use.

Craig Karlis and Ahmet Devrim Akyil raised about $40 million from 750 investors from at least July 2007 to September 2008, falsely promising safeguards to limit losses, the SEC said today in a suit filed at federal court in Massachusetts. The agency, which is seeking unspecified fines and disgorgement, also sued their defunct firm, Boston Trading and Research LLC.

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Posted on October 28, 2010 16:22 by Tom Herod
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