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Credit Suisse Securities (USA) LLC fined $6.5 million by FINRA

The heart of FINRA’s December 23, 2019 allegations are that Credit Suisse Securities (USA) LLC (CSS) “did not implement reasonably designed surveillances and supervisory procedures to monitor for certain kinds of potentially manipulative activity by its Direct Market Access (DMA) clients.” Apparently, during the relevant timeframe (July of 2010 through July 2014) the allowed trading … Read more

CFTC charges a French national with manipulation

On December 20, 2019 the Commodity Futures Trading Commission (CFTC) charged French national Christophe Rivoire with manipulation of U.S. dollar interest rate basis swaps during June and July of 2012. Mr. Rivoire was the former head of HSBC Holdings Plc’s North American interest rates business working in the Bank’s office in Manhattan. The complaint filed … Read more