CFTC Fines Morgan Stanley $490,000 in Secured Amount Funds Settlement.
On March 27th, the CFTC filed and settled charges against Morgan Stanley Smith Barney LLC for violations of CFTC rules regarding the segregation of secured client funds, commingling customer and firm funds, failing to provide accurate daily computations, failing to properly title account statements, and failing to diligently supervise its employees. Morgan Stanley Smith Barney will pay $490,000 in fines to the agency. CFTC Press Release.
CFTC Extends Time-Limited No-Action Relief for LCH.Clearnet and Nodal Exchange.
On March 27th, the CFTC's Division of Clearing and Risk and Division of Market Oversight issued an extension of time-limited no-action relief to both the derivatives clearing organization LCH.Clearnet Group and the designated contract market Nodal Exchange LLC. The CFTC will not recommend future enforcement action against LCH and Nodal provided that futures trading regulations are complied with. The relief will extend to June 30, 2014. Relief.