Category: Companies in the News

“Companies in the News” on JCAP101.com provides updates on how various companies are interacting with regulatory authorities, including compliance issues, regulatory approvals, and legal challenges. This section highlights significant developments such as new regulations impacting specific industries, investigations into corporate practices, and the outcomes of regulatory reviews or enforcement actions. By focusing on these interactions, the platform offers insights into how regulatory changes and decisions influence corporate strategies, operations, and market performance.

CFTC-PR-8957-24

Categories CFTC CFTC-24 CFTC-2408 Companies in the News Derivatives Clearing Organization Federal News Sources Kalshi Klear LLC

CFTC-PR-8957-24 (Aug. 29, 2024)

CFTC Grants Kalshi Klear LLC DCO Registration

Washington, D.C. — The Commodity Futures Trading Commission announced today it has issued Kalshi Klear LLC (Kalshi) an Order of Registration as a derivatives clearing organization (DCO) under the Commodity Exchange Act (CEA).

CFTC News Release - CFTC-PR-8957-24

PR-8957-24

Date: Aug. 29, 2024

Accessed: Aug. 29, 2024

Source URL: https://www.cftc.gov/PressRoom/PressReleases/8957-24

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CFTC-PR-8957-24

CFPB-PR-240829-1

Cash-Out Refinance Loans Categories CFPB CFPB-24 CFPB-2408 Companies in the News Federal News Sources Mortgage Churning Mortgages New Day Financial LLC Veterans and Military Families

CFPB-PR-240829-1 (Aug. 29, 2024)

CFPB Orders NewDay USA to Pay $2.25 Million for Illegally Luring Veterans and Military Families into Cash-Out Refinance Loans – NewDay USA’s deceptive tactics came amid VA home loan “churning” scandal

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today took action against repeat offender New Day Financial (NewDay USA) for deceiving active duty servicemembers and veterans seeking cash-out refinance loans. The CFPB found that NewDay USA gave misleading and incomplete cost comparisons to borrowers refinancing in North Carolina, Maine, and Minnesota, which made the company’s loans appear less expensive relative to their existing mortgages. The CFPB is ordering NewDay USA to pay a $2.25 million civil penalty to the CFPB’s victims relief fund.

CFPB News Release - CFPB-PR-240829-1

CFPB-PR-240829-1

Date: Aug. 29, 2024

Accessed: Aug. 31, 2024

Source URL:  https://www.consumerfinance.gov/about-us/newsroom/cfpb-orders-newday-usa-to-pay-2-25-million-for-illegally-luring-veterans-and-military-families-into-cash-out-refinance-loans/

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CFPB-PR-240829-1

CFTC-PR-8954-24

Categories CFTC CFTC-24 CFTC-2408 Companies in the News Core Principle Violations Federal News Sources Nasdaq Futures Inc.

CFTC-PR-8954-24 (Aug. 29, 2024)

CFTC Orders Nasdaq Futures, Inc. to Pay $22 Million for Core Principle Violations, Failing to Fully Disclose Incentives, Providing False and Misleading Information

Washington, D.C. — The Commodity Futures Trading Commission today issued an order filing and settling charges against Nasdaq Futures, Inc., formerly a designated contract market (DCM). The order finds Nasdaq Futures, Inc. failed to properly establish, monitor, or enforce rules related to an incentive program Nasdaq Futures, Inc. offered to certain traders on its DCM. The order also finds Nasdaq Futures, Inc. did not fully disclose this incentive program’s details to the CFTC or the public consistent with the requirements of the Commodity Exchange Act (CEA) and Commission Regulations. In addition, the order finds Nasdaq Futures, Inc. made false and misleading statements to the CFTC regarding the incentive program. The order requires Nasdaq Futures, Inc. to pay a $22 million civil monetary penalty. 

CFTC News Release - CFTC-PR-8954-24

CFTC-PR-8954-24

Date: Aug. 29, 2024

Accessed: Aug. 29, 2024

Source URL: https://www.cftc.gov/PressRoom/PressReleases/8954-24

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CFTC-PR-8954-24

CFTC-PR-8953-24

Categories CFTC CFTC-24 CFTC-2408 Companies in the News Federal News Sources Market Manipulation TOTSA TotalEnergies Trading SA

CFTC-PR-8953-24 (Aug. 27, 2024)

CFTC Orders Swiss Energy Trader to Pay $48 Million for Attempted Market Manipulation – TOTSA Attempted to Manipulate the Market for EBOB-Linked Futures Contracts

Washington, D.C. — The Commodity Futures Trading Commission today issued an order filing and simultaneously settling charges against TOTSA TotalEnergies Trading SA, formerly known as TOTSA Total Oil Trading SA (TOTSA), for attempting to manipulate the market for EBOB-linked futures contracts in order to benefit its derivatives positions in violation of the Commodity Exchange Act (CEA) and CFTC regulations. TOTSA is not registered with the CFTC.

CFPB News Release - CFTC-PR-8953-24

PR-8953-24

Date: Aug. 27, 2024

Accessed: Aug. 27, 2024

Source URL: https://www.cftc.gov/PressRoom/PressReleases/8953-24

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CFTC-PR-8953-24

CFTC-PR-8951-24

Bank of New York Mellon Categories CFTC CFTC-24 CFTC-2408 Companies in the News Federal News Sources Supervision Swap Dealers Swap Reporting Failures

CFTC-PR-8951-24 (Aug. 26, 2024)

CFTC Orders The Bank of New York Mellon to Pay $5 Million for Swap Reporting and Supervision Failures and Violation of a Prior CFTC Order

Washington, D.C. — The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges with The Bank of New York Mellon (BNYM) for repeatedly failing to correctly report millions of swap transactions to a registered swap data repository, in violation of a prior CFTC order against BNYM, and for failing to properly supervise its swap dealer business as required by the Commodity Exchange Act (CEA) and CFTC regulations.

CFPB News Release - CFTC-PR-8951-24

PR-8951-24

Date: Aug. 26, 2024

Accessed: Aug. 27, 2024

Source URL: https://www.cftc.gov/PressRoom/PressReleases/8951-24

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CFTC-PR-8951-24

CFTC-PR-8948-24

Categories CFTC CFTC-24 CFTC-2408 Commodity Pool Operators Companies in the News CTAX Partners LLC CTAX Series LLC Federal News Sources Introducing Brokers Registration Revocations

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.

CFPB News Release - CFTC-PR-8948-24

PR-8948-24

Date: Aug. 21, 2024

Accessed: Aug. 26, 2024

Source URL: https://www.cftc.gov/PressRoom/PressReleases/8948-24

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CFTC-PR-8948-24-1

CFPB-PR-240821-1

Categories CFPB CFPB-24 CFPB-2408 Companies in the News Fay Servicing LLC Federal News Sources Mortgages

CFPB-PR-240821-1 (Aug. 21, 2024)

CFPB Takes Action Against Fay Servicing for Illegal Foreclosure Actions and Violating Law Enforcement Order – Order requires the mortgage servicer to pay $5 million in redress and penalties, and sets compensation limits on CEO Edward Fay

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today ordered Fay Servicing to pay a $2 million penalty for violations of mortgage servicing laws, as well as for violations of a 2017 agency order that addressed its illegal foreclosure practices. The company failed to implement the order’s requirements and continued to break the law. Fay Servicing took prohibited foreclosure actions against borrowers requesting mortgage assistance, failed to offer borrowers mortgage assistance options available to them, and overcharged for private mortgage insurance. In addition to the civil money penalty, the CFPB’s order requires Fay Servicing to pay consumer redress of $3 million and to invest $2 million to update its servicing technology and compliance management systems. The order also puts compensation limits on Edward Fay, the company’s Chairman of the Board and Chief Executive Officer (CEO), if Mr. Fay does not take actions necessary to ensure compliance with the order.

CFPB News Release - CFPB-PR-240821-1

PR-240821-1

Date: Aug. 21, 2024

Accessed: Aug. 26, 2024

Source URL: https://www.consumerfinance.gov/about-us/newsroom/cfpb-takes-action-against-fay-servicing-for-illegal-foreclosure-actions-and-violating-law-enforcement-order/

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CFPB-PR-240821-1

CFTC-PR-8947-24

CFTC CFTC-24 CFTC-2408 Commodity Pool Operators Companies in the News Federal News Sources Get Money Tradez LLC Registration Failures

CFTC-PR-8947-24 (Aug. 20, 2024)

CFTC Orders Unregistered Pool Operator and its Managing Member to Pay More than $520,000 for Fraud Violations

Washington, D.C. — The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges against Get Money Tradez LLC (GMT), and its managing member, Jeffrey Carmon, Jr. a/k/a Jeffery Carmon, Jr. (Carmon), both based in the Houston, Texas area.

CFTC News Release - CFTC-PR-8947-24

PR-8947-24

Date: Aug. 20, 2024

Accessed: Aug. 21, 2024

Source URL: https://www.cftc.gov/PressRoom/PressReleases/8947-24

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CFTC-PR-8947-24

CFTC-PR-8946-24

Categories CFTC CFTC-24 CFTC-2408 Companies in the News Federal News Sources Raizen Energia SA Raizen Trading SA Wash Sales

CFTC-PR-8946-24 (Aug. 19, 2024)

CFTC Orders Brazilian and Swiss Sugar Companies to Pay $750,000 for Wash Sales

Washington, D.C. — The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges against respondents Raizen Energia SA, a Brazilian energy company and sugar merchant, and Raizen Trading SA, a Swiss sugar merchant, for engaging in wash sales and non-competitive transactions.

CFTC News Release - CFTC-PR-8946-24

PR-8946-24

Date Accessed: Aug. 18, 2024

Source URL: https://www.cftc.gov/PressRoom/PressReleases/8946-24

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CFTC-PR-8946-24

CFTC-PR-8945-24

Categories CFTC CFTC-24 CFTC-2408 Companies in the News Federal News Sources Recordkeeping Failures Supervision Swap Dealers Truist Bank Unapproved Communications

CFTC-PR-8945-24 (Aug. 14, 2024)

CFTC Orders Truist Bank to Pay $3 Million Penalty and Remediate Recordkeeping and Supervision Failures Relating to Widespread Use of Unapproved Communications Methods. Truist Receives Substantially Reduced Penalty for Self-Reporting to the Division of Enforcement

Washington, D.C. — The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges against North Carolina swap dealer Truist Bank.

CFTC News Release - CFTC-PR-8945-24

PR-8945-24

Date Accessed: Aug. 18, 2024

Source URL: https://www.cftc.gov/PressRoom/PressReleases/8945-24

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CFTC-PR-8945-24