CFTC-PR-8948-24 (Aug. 21, 2024) CFTC Files Actions to Revoke Registrations of Introducing Broker, Commodity Pool Operator, and Associated Person for Violating CEA Antifraud Provisions Washington, D.C. — The Commodity Futures Trading Commission today announced it commenced actions to revoke the registrations of Purvesh Mankad, and his affiliated entities CTAX Partners, LLC and CTAX Series, LLC. Date: Aug. 21, 2024 Accessed: […]
Category: Introducing Brokers
Introducing Brokers (IB) are financial intermediaries that connect clients with futures or securities markets but do not hold clients’ funds to execute trades. Instead, an IB establishes relationships with larger brokerages or clearing firms, which handle trade execution, custody of funds, and regulatory compliance. IBs focus on customer acquisition and service, offering clients access to markets, research, and trading platforms while earning commissions or fees for each transaction their referred clients execute. They play a pivotal role in expanding market reach and providing specialized services to traders, investors, and institutions seeking access to financial markets through established brokerage channels.
In 1983 the CFTC delegated the registration of Introducing Brokers (“IBs”) to the National Futures Association (“NFA”),
CFTC Market Participants Division (“MPD”).
CFTC-PR-8941-24 (Aug. 12, 2024) CFTC Orders Texas Company to Pay $100,000 for Failing to Register as an Introducing Broker Washington, D.C. — The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges against Cost Management Solutions, LLC (CMS), a Texas corporation. Date: Aug. 12, 2024 Date Accessed: Aug. 19, 2024 Source URL: https://www.cftc.gov/PressRoom/PressReleases/8941-24 […]
CFTC-PR-8880-24 CFTC Orders U.S. Bank to Pay $6 Million and Oppenheimer to Pay $1 Million for Recordkeeping and Supervision Failures for Firm-Wide Use of Unapproved Communication Methods Date: Mar. 19, 2024 Date Accessed: Aug. 1, 2024 Source URL: https://www.cftc.gov/PressRoom/PressReleases/8880-24 Categories: CFTC-2403 Introducing Brokers Recordkeeping Failures Supervision Failures Swap Dealers Unapproved Communications OPPENHEIMER & CO. INC. […]