(Washington,
D.C.) The U.S. Commodity Futures Trading
Commission (C.F.T.C.), has existed since April 15th, 1975. However, and in the United
States of America the futures contracts for
agricultural commodities have been regulated by the U.S. Federal Government
since the 1920s. More specifically;
regulation occurred as a result of the Grain Futures Act of 1922, and, the
Commodity Exchange Act of 1936. The
decade of the 1970s, saw the trading of futures contracts, expand rapidly. In fact; it is believed that the previously
said expanded beyond traditional physical commodities, and, agricultural
commodities. The expansion, as it is
documented is into a wide field of financial instruments. Foreign currencies, U.S. Government securities,
foreign securities, U.S.
stock indices and foreign stock indices are also part; of the previously
stated. Recently, Michael R. McLeod
announced that, he drafted the Commodity Futures Trading Commission Act of
1974. Specifically, the aforementioned
author revealed that, he has released a non-fiction book. The non-fiction book is entitled, The Worst Financial Scandals of the Last
Twenty Years: From Madoff to the Cover
Up of the Optionsellers/INTL FCStone Scandal. In; The
Worst Financial Scandals of the Last Twenty Years: From Madoff to the Cover Up of the
Optionsellers/INTL FCStone Scandal, Mr. Michael McLeod expresses his
disappointment in the Commodity Futures Trading Commission (C.F.T.C.).
The expressed disappointment in the
C.F.T.C., according to Mr. Michael McLeod, is backed up by letters. Technically letters from the Victim
Specialist, the F.B.I. and the D.O.J. are what backs up; the expressed
disappointment. This non-fiction book,
is made possible by the following book publishing company. Officially, the book publishing company is
independently published. In other words,
it is a self published book. However and
returning to; the U.S. Commodity Futures Trading Commission (C.F.T.C.), the
aforementioned independent U.S.
government agency, regulates what is now called the U.S.
derivatives markets. The U.S.
derivatives markets include futures contracts, swaps and specific types of
options. As part of its mission
statement; the C.F.T.C. promotes the integrity, the resilience and the vibrancy
of the U.S.
derivatives markets. The latter, is
accomplished through government regulation.
Therefore, the C.F.T.C. prohibits fraudulent conduct in the trading of
futures contracts, swaps and other types of derivatives. Aiding this effort are two pieces of
legislation. The first is, the Commodity
Futures Modernization Act of 2000. The
second is, the Dodd-Frank Wall Street Reform and Consumer Protection Act (2010).
Returning to; Michael R. McLeod’s
non-fiction book, the aforementioned literary work talks about huge losses, in
the U.S.A.’s
derivatives markets. In; The Worst Financial Scandals of the Last
Twenty Years: From Madoff to the Cover
Up of the Optionsellers/INTL FCStone Scandal, Michael R. McLeod talks about
November 2018. Specifically, he talks
about huge losses, which occurred during the second week of November, of the
year 2018. Second, Mr. Michael McLeod
moves on to the year, 2013. In the year
2013, INTL FCStone was fined, $1.5 million USD by the C.F.T.C. Additionally, the aforementioned derivatives
clearing firm, was forced to absorb an estimated $127 million USD in
losses. Third, Mr. Michael McLeod moves
on to talking about the bankruptcy of Optionsellers.com. Interestingly, even Mr. Michael McLeod
reports that, he lost a lot money in this bankruptcy. Additionally, he also calls the people who
lost money; innocent investors. As
previously said, Michael R. McLeod wishes to express his disappointment, in the
Commodity Futures Trading Commission (C.F.T.C.). He also calls for action from the U.S. House
Agriculture Committee, and, the U.S. Senate Agriculture Committee. Everything can be read in; The Worst Financial Scandals of the Last
Twenty Years: From Madoff to the Cover
Up of the Optionsellers/INTL FCStone Scandal.
To end, Michael R. McLeod did
release a press statement. Through a
press statement, Mr. Michael McLeod said the following. “The only Federal agency that has expressed
any interest in trying to help me is the FBI, Department of Justice. I received a letter from the Victim
Specialist stating that she understood I was a victim of a financial
crime. A copy is included in my new
book.” As previously stated, Michael R.
McLeod recently announced that, he drafted the Commodity Futures Trading
Commission Act of 1974. Specifically,
the aforementioned author revealed that, he has released a non-fiction
book. The non-fiction book is entitled, The Worst Financial Scandals of the Last
Twenty Years: From Madoff to the Cover
Up of the Optionsellers/INTL FCStone Scandal. In; The
Worst Financial Scandals of the Last Twenty Years: From Madoff to the Cover Up of the
Optionsellers/INTL FCStone Scandal, Mr. Michael McLeod expresses his
disappointment in the Commodity Futures Trading Commission (C.F.T.C.). Lastly, the book publishing company is
independently published. In other words,
it is a self published book.
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Written
from Press Release
Registered
Writer with
PR
Newswire Association, LLC
R-Berumen28
03/06/2020
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