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Commodities Futures Trading Commission

The United States Commodities Futures Trading Commission was created in 1974 to regulate commodity futures and option markets. The Commission’s mission is to protect market participants and the public from... more +
The United States Commodities Futures Trading Commission was created in 1974 to regulate commodity futures and option markets. The Commission’s mission is to protect market participants and the public from fraud, abuse, and systemic risk associated with derivatives subject to the Commodities Exchange Act. In 2010, as a result of the Frank-Dodd Wall Street Reform and Consumer Protection, the Commission’s role was expanded to include drafting rules for regulating the swaps marketplace. less -

The Financial CHOICE Act 2.0, Legislative Text Revealed

by K&L Gates LLP on

On April 19, 2017, House Financial Services Committee (“HFSC”) Chairman Jeb Hensarling (R-TX) released an updated version of the Financial CHOICE Act (“FCA 2.0”), a discussion draft that would reform the Dodd–Frank Wall...more

"Southern District Decision Highlights Challenges for Private Litigants Pursuing Manipulation Claims Under the CEA"

The U.S. District Court in the Southern District of New York recently dismissed a class action lawsuit alleging that Total, S.A., Total Gas & Power North America, Inc., and Total Gas & Power Limited (collectively, “Total”)...more

US Commodity Futures Trading Commission Appoints Head of Enforcement and New Chief Market Intelligence Officer

by Shearman & Sterling LLP on

US Commodity Futures Trading Commission Acting Chairman J. Christopher Giancarlo announced the appointment of federal prosecutor James McDonald as the agency’s new Director of Enforcement. Mr. McDonald, who was most recently...more

US Commodity Futures Trading Commission Appoints First Chief Market Intelligence Officer

by Shearman & Sterling LLP on

The US Commodity Futures Trading Commission announced that Andrew B. Busch had been named the CFTC’s first Chief Market Intelligence Officer...more

Blockchain and the Law - Overview of token sales and bitcoin property rights

by Perkins Coie on

On March 29, 2017, Perkins Coie partner Dax Hansen and associate Josh Boehm were invited to the Cyber Initiative at Stanford Law School to deliver a presentation on several cutting-edge legal issues relating to blockchain...more

FinTech – The CFTC’s Silver Bullet?

by King & Spalding on

On March 15, Acting US Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo excited the futures and options markets when he spoke at length about embracing technology as a key to economic growth. ...more

US Commodity Futures Trading Commission Provides Relief Associated with Swap Trade Confirmations

by Shearman & Sterling LLP on

The CFTC’s Division of Market Oversight (DMO) issued a no-action letter extending relief associated with swap trade confirmation requirements that previously was provided in CFTC Staff Letter 16-25, which expires March 31,...more

CFTC Initiates Project KISS

In remarks at a conference, CFTC Acting Chairman J. Christopher Giancarlo announced the CFTC’s intent to comply with an Executive Order which requires each agency to designate a Regulatory Reform Officer and establish a...more

SEC Rejects Second Bitcoin ETF Due to Lack of Regulatory Oversight

by Reed Smith on

On March 28, 2017, the U.S. Securities Exchange Commission (“SEC”) issued a second denial of a bitcoin exchange-traded fund (“ETF”), following its rejection of the Winklevoss Bitcoin Trust earlier this month. SolidX Bitcoin...more

Treatment of Bitcoin Under U.S. Property Law

by Perkins Coie on

In this white paper, we analyze the treatment of bitcoin under applicable U.S. property law. We conclude that property interests should exist in bitcoin under such law, and that multiple sources of persuasive authority...more

President Trump Nominates J. Christopher Giancarlo as Chairman of the US Commodity Futures Trading Commission

by Shearman & Sterling LLP on

President Donald J. Trump nominated J. Christopher Giancarlo to serve as Chairman of the US Commodity Futures Trading Commission...more

US Commodity Futures Trading Commission Extends Comment Period on Proposed Capital Requirements for Swap Dealers and Major Swap...

by Shearman & Sterling LLP on

The CFTC announced that it was extending the comment period for the proposed rule on capital requirements applicable to swap dealers and major swap participants...more

Regulators Provide Guidance on Variation Margin for Uncleared Swaps; CFTC Also Delays Compliance Date for Filing Notices to...

by K&L Gates LLP on

Global regulators adopted regulations to govern the posting and collection of margin on uncleared swaps. These regulations are set to take effect in stages over a four-year period. The initial compliance date was September...more

US Commodity Futures Trading Commission Announces Daniel J. Davis as General Counsel

by Shearman & Sterling LLP on

The CFTC announced that Daniel J. Davis has been named...more

Bridging the Week - March 2017 #3

CFTC Chairman Nominee Warns of Tough Love to Come: KISS But Also Aggressive and Assertive Enforcement: In a speech last week before an assembly of industry executives at FIA’s annual Boca Raton conference, J. Christopher...more

Is it Time to Streamline Financial Regulation?

by Morrison & Foerster LLP on

A March 13, 2017 presidential order requiring a comprehensive plan to reorganize the executive branch could be the first step toward streamlining the financial regulatory structure. The Executive Order requires the...more

Acting (and Potentially Permanent) CFTC Chairman Warns of “Aggressive and Assertive Enforcement Action by the CFTC Under the Trump...

In remarks before the International Futures Industry Conference, Acting Chairman J. Christopher Giancarlo—who was just nominated by President Trump to be permanent Chairman—talked about the future of the Commodity Futures...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

As anticipated (and hinted-at forcefully by its officials), the Fed raised the benchmark interest rate yesterday to a range nearing 1 percent, a move that signals the slow end to the body’s nine-year stimulus effort....more

SEC Rejects Bitcoin ETF Proposal Citing Lack of Regulation

by Reed Smith on

On March 10, 2017, the U.S. Securities Exchange Commission (“SEC“) issued an order disapproving BATS BZX Exchange’s proposal to list and trade shares of the Winklevoss Bitcoin Trust. The proposal, if granted, would have...more

US and EU Regulators Provide Relief for Compliance with Variation Margin Requirements

by White & Case LLP on

The CFTC, the Federal Reserve Board and the Office of the Comptroller of the Currency have taken action to extend the period during which Swap Dealers can comply with the requirement to post and collect variation margin under...more

US Commodity Futures Trading Commission Provides Time-Limited No-Action Relief for Aggregation Notice Filings for Position Limits

by Shearman & Sterling LLP on

The CFTC’s Division of Market Oversight issued a time-limited no-action letter stating that, from February 14, 2017 to August 14, 2017, it will not recommend an enforcement action for failure to file a notice when relying on...more

Regulators Prepare for Innovation in Distributed Ledger Technology

by Reed Smith on

Regulators across the globe are considering how existing regulations may accommodate the development of new distributed ledger technologies (“DLT”) (also known as “blockchain”). In just the first two months of 2017, the U.S....more

US Commodity Futures Trading Commission Issues Time-Limited No-Action Transition for March 1, 2017 Compliance Date for Variation...

by Shearman & Sterling LLP on

US Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) issued a time-limited no-action letter (CFTC staff letter 17-11) which provides that, from March 1, 2017 to September 1,...more

CFTC Proposes Updated Recordkeeping Rules

by Ropes & Gray LLP on

The Commodity Futures Trading Commission (the “CFTC”) recently proposed certain amendments to Regulation 1.31 (“§1.31”), which sets forth requirements for records required to be kept under the Commodity Exchange Act (the...more

Orrick's Financial Industry Week In Review

CFTC Indicates Willingness to Help Incubate Fintech - On February 21, 2017, J. Christopher Giancarlo, the acting chairman of the U.S. Commodity Futures Trading Commission ("CFTC"), has diverged from other U.S. federal...more

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