Thomas H. Watterson

Thomas H. Watterson

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2015 CFTC Regulatory Agenda

As 2015 is now underway, we wanted to highlight some of the potential regulatory developments from the CFTC that may arise in the new year. Overall we expect 2015 to be a year of continued CFTC implementation of the...more

1/29/2015 - Block Trades CFTC Mandatory Clearing Requirements Regulatory Agenda Swaps

CFTC Issues Enforcement Order Regarding "Risk Management" Services and CTA Registration

On, January 16, the CFTC ordered Summit Energy Services, Inc. ("Summit Energy") to pay a $140,000 civil penalty to resolve allegations that it violated the Commodity Exchange Act ("CEA") by failing to register as a commodity...more

1/29/2015 - CFTC Civil Monetary Penalty Commodities Exchange Act CTA Enforcement Actions Risk Management Agency Summit Energy

CFTC Penalizes Energy Company for Failing to Register as a CTA

The Commodity Futures Trading Commission (“CFTC”) recently ordered Summit Energy Services, Inc. (“Summit Energy”) to pay a $140,000 civil penalty to resolve allegations that it violated the Commodity Exchange Act (“CEA”). In...more

1/23/2015 - CFTC Civil Monetary Penalty Commodities Exchange Act CTA Natural Gas Oil & Gas OTC Registration Swaps

CFTC No-Action Relief from Potentially Burdensome Requirement for Automated Form 40S Response to CFTC ‘Special Calls’

On July 23, the CFTC staff issued No-Action Letter 14-95 extending the compliance date from August 15, 2014 to February 11, 2016 for use of new Forms 40/40S—reports solicited from market participants by “special call” of the...more

7/29/2014 - CFTC Form 40S Market Participants No-Action Letters No-Action Relief Special Calls Swap Dealers Swaps

SEC Lifts Moratorium on Non-Leveraged, Actively Managed ETFs that Use Derivatives

On December 6, 2012, Norm Champ, Director of the Division of Investment Management of the Securities and Exchange Commission ("SEC"), announced an end to the moratorium on issuing exemptive orders to non-leveraged, actively...more

12/14/2012 - Derivatives ETFs Investment Company Act of 1940 Moratorium SEC

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