The MF Global trustee has received court approval to advance more than $600 million of general estate assets to customers to allow 100% distributions to all customers. As a result,…
A new oral communications recordkeeping requirement was one of the key topics discussed at the 2013 NIBA Conference in Chicago on September 18, 2013. Covered registrants must comply by December…
In Part 1 of the article Five Ideas of CTA Due Diligence, we discussed several foundational concepts to keep in mind when applying a research due diligence process to a…
1. Don’t sell anything, ever, that doesn’t have an audited Track Record. If you are selling unaudited investment managers, you are selling fantasy. 2. Don’t sell anything you don’t understand.…
The recent NIBA Conference panel Due Diligence for IBs using CTA Programs proved to be a lively discussion with strong input from the conference participants, which included both CTAs and…
A federal judge rejected U.S. Bank's motion to dismiss a lawsuit that accused the bank of letting Peregrine Financial founder Russell Wasendorf Sr secure loans against money that belonged to…
U.S. Bankruptcy Judge Martin Glenn has given MF Global Holdings the green light to pay commodity customers all of the money they are owed. "I don't know of anyone who…
Dear Members, “The AML session was the best I’ve ever attended...” “Loved the CTA Due Diligence session...” “Legal Update is always my favorite part of the NIBA…
The NIBA conference held in Chicago last month offered a wide variety of informational sessions applicable to Introducing Brokers’ business. My compliments to Melinda Schramm and the NIBA board for…
CFTC, FinCEN and Treasury have provided guidance in a Q&A format regarding certain unique circumstances relating to IBs and the Customer Identification Program (CIP). These include: New Co-Owner of Account:…
