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Article: Mercurity Fintech Holding Inc. Announced Changes to Board Composition

Article - Media, Publications

Mercurity Fintech Holding Inc. Announced Changes to Board Composition

PRNewswire, 04 March 2021

Mercurity Fintech Holding Inc. (the “Company” or “MFH”) (Nasdaq: MFH) today announced that Mr. Cong Huang has been appointed as Independent Director to the Company’s Board of Directors (the “Board”), and Mr. Liu Hao has been appointed as a Director to the Board. These changes were put into effect on March 4, 2021.

Mr. Cong Huang is a renowned researcher and entrepreneur in financial technology innovation. After receiving the PhD degree in Statistics from Yale University, he worked at Columbia University as an Assistant Professor in the Statistics Department, conducting research focused on algorithms and implementations in data mining. After a period of time, he decided to leave campus to develop his career in financial innovation and technology. At Goldman Sachs (GS), he played a pivotal role in developing various new models and algorithms to improve the speed and accuracy of options pricing methods. At McKinsey & Company, he helped financial institutions implement strategic innovation and transformation initiatives. Continue reading “Article: Mercurity Fintech Holding Inc. Announced Changes to Board Composition”

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Article: Watchdog bans City of London trader for ‘wash trading’

Article - Media, Publications

Watchdog bans City of London trader for ‘wash trading’

Hannah Godfrey, 04 March 2021

The city watchdog has banned ex-City of London trader Adrian Geoffrey Horn after he engaged in ‘wash trading’, a form of market abuse.

Horn, who worked as a market making trader at Cheapside-based Stifel Nicolaus Europe, was fined £52,000 by the Financial Conduct Authority (FCA) and banned for carrying out any regulated work in the future. Continue reading “Article: Watchdog bans City of London trader for ‘wash trading’”

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Article: FCA Fines Ex-Stifel Nicolaus Trader For Misleading Market

Article - Media, Publications

FCA Fines Ex-Stifel Nicolaus Trader For Misleading Market

Najiyya Budaly, 04 March 2021

The Financial Conduct Authority said Thursday it has fined a former Stifel Nicolaus trader and banned him from regulated activities for executing 129 so-called wash trades that misled the market about demand for his client’s shares.

The City watchdog said it has fined Adrian Geoffrey Horn £52,500 ($73,302) for market abuse and banned him indefinitely from performing any function related to a regulated activity. Horn was a former market making trader at Stifel Nicolaus Europe Ltd., which meant that he both bought and sold securities. Continue reading “Article: FCA Fines Ex-Stifel Nicolaus Trader For Misleading Market”

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Subject: Mathew Martoma

People, Subject of Interest

Mathew Martoma  (born May 18, 1974, as Ajai Mathew Mariamdani Thomas) is an American former hedge fund trader. As a portfolio manager at S.A.C. Capital Advisors, he was accused of generating possibly the largest single insider trading transaction profit in history at a value of $276 million.

A jury convicted him, and in November 2014 he began serving a nine-year prison sentence. He is currently incarcerated at FCI Miami as inmate 01138-104, and scheduled for early release on 19 July 2021.

Full Biography

Continue reading “Subject: Mathew Martoma”

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Official: Gary Gensler

Official, People

Gary Gensler  (born October 18, 1957) is an American academic, former investment banker, and former government official. Gensler leads the Biden–Harris transition’s Federal Reserve, Banking and Securities Regulators agency review team. He is also a professor at the MIT Sloan School of Management.

Gensler previously served as the 11th chairman of the Commodity Futures Trading Commission, under President Barack Obama, from May 26, 2009 to January 3, 2014. He was the Under Secretary of the Treasury for Domestic Finance (1999–2001), and the Assistant Secretary of the Treasury for Financial Markets (1997–1999). Prior to his career in the federal government, Gensler worked at Goldman Sachs, where he was a partner and co-head of finance. Gensler also served as the CFO for the Hillary Clinton 2016 presidential campaign. Continue reading “Official: Gary Gensler”

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Article: Ignoring years of silver price manipulation, Orwellian CFTC now goes after Reddit Apes

Article - Media, Publications

Ignoring years of silver price manipulation, Orwellian CFTC now goes after Reddit Apes

Ronan Manly, Bullion Star, 04 March 2021

On Monday 1 March, an article in Bloomberg Law by CFTC connected lawyers from law firm Clifford Chance revealed that the Commodity Futures Trading Commission (CFTC) is reportedly investigating retail silver trader activity in the silver price and that the US Department of Justice looks set to investigate as well.

Before looking at this shocker of an Orwellian development, it’s helpful to provide some context on the CFTC’s track behavior in this area and to show how hypocritical such a development would be. Continue reading “Article: Ignoring years of silver price manipulation, Orwellian CFTC now goes after Reddit Apes”

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Tweet: Anders Melin on Congress & Robinhood & Citadel

Tweet

Anders Melin
@MelinAnders

Robinhood just got asked by two lawmakers to send over its payment-for-order-flow contracts with market makers such as Citadel.

The letter came from @RepCindyAxne and @RepBillFoster

Robert Steele
@OSSRobertSteele

@Jim_Jordan @RepCindyAxne @RepBillFoster all market makers cheat and both Senate and House committees are complicit in http://wall-street-crime.org shall we dance? The tag cloud of names grows daily.

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Subject: Hamilton E. James

People, Subject of Interest

Hamilton Evans “Tony” James  (born February 3, 1951) is an American billionaire businessman, and the executive vice chairman of The Blackstone Group, a New York-based global asset management firm, having previously been president and chief operating officer. James has been chairman of Costco since August 2017.

In 1975, James joined investment bank Donaldson, Lufkin & Jenrette and became head of its global M&A group in 1982. He founded DLJ Merchant Banking, Inc in 1985. In 1995, James was appointed chairman of the firm’s banking group, a position he held when DLJ was acquired in 2000 by Credit Suisse First Boston, and was a member of its board of directors. At CSFB, James served on the executive board and as chairman of global investment banking and private equity. A 2007 Wall Street Journal article credited James with leading the acquisition process, on behalf of DLJ. Continue reading “Subject: Hamilton E. James”

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Article: Senator Ossoff Drops a Bombshell: “The 12 or 13 Largest Banks” Got the Trillions from the Fed’s Repo Loans Last Year

Article - Media

Senator Ossoff Drops a Bombshell: “The 12 or 13 Largest Banks” Got the Trillions from the Fed’s Repo Loans Last Year

Pam Martens and Russ Martens: March 3, 2021 ~ Wall Street on Parade

“Nearly all the money went to too-big-to-fail institutions. For example, in one emergency lending program, the Fed put out $9 trillion and over two-thirds of the money went to just three institutions: Citigroup, Morgan Stanley and Merrill Lynch.

“Those loans were made available at rock bottom interest rates – in many cases under 1 percent.”

Read full article.