The CFTC recently approved a futures contract on a dividend index as a non-security based index futures contract over the SEC’s objection that the dividend index contract could be a security future; the CFTC’s actions may...more
The reporting relief applies to commodity trading advisors that do not “direct” trading of any client commodity interest trading accounts.
On July 23, the CFTC’s Division of Swap Dealer and Intermediary Oversight issued...more
The letter modifies previous No-Action Letter 13-22, to expand relief for treasury affiliates entering into swaps on behalf of non-financial end-user affiliates that could otherwise elect the exception in section 2(h)(7) of...more
Proposed changes would provide permanent relief from compliance with certain recordkeeping requirements and narrow the types of records that must be identifiable by transaction.
The December 2012 amendments to...more
SEC Chair Mary Jo White outlined a broad market structure proposal that would require high-frequency traders to register with the SEC as dealers and that could signal the end of the dealer-trader distinction....more
The proposal is consistent with international recommendations and Basel III criteria.
On March 12, the Securities and Exchange Commission (SEC) proposed new rules and rule amendments (the Proposal) that would enhance...more
The no-action relief provided by the staff of the Division of Trading and Markets is generally consistent with the relief previously provided to foreign options markets.
On July 1, the staff of the Securities and...more
Standards for banking organizations regulated by the Federal Reserve for Retail Forex are generally comparable to rules adopted by other regulators.
Final rules require tape recording by futures commission merchants, introducing brokers, retail foreign exchange dealers, and commodity trading advisors; affected CFTC registrants must implement systems to comply by December...more
Order grants exemptive relief from Exchange Act requirements; parallel CFTC relief expected soon.
On December 14, the Securities and Exchange Commission (SEC) issued an order granting exemptive relief (Exemptive Order)...more
Claims for relief from CPO registration by qualifying family offices and fund of funds operators must be filed by December 31.
On November 29, the Commodity Futures Trading Commission's (CFTC's) Division of Swap Dealer...more