News & Analysis as of

Commodities Futures Trading Commission Amended Rules

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 -
WilmerHale

SEC Adopts New Requirements for US Treasuries Clearing and Risk Management

WilmerHale on

On December 13, 2023, the Securities and Exchange Commission (SEC) voted (4-1) to adopt new requirements under the Securities Exchange Act of 1934 (Exchange Act), which will restructure the clearance and settlement of...more

BakerHostetler

SEC and CFTC Continue Crackdown on Financial Firms Over Off-Channel Communications

BakerHostetler on

The SEC and CFTC settlements with HSBC and Scotia Capital come after years of federal regulators’ and prosecutors’ steadily increasing scrutiny of off-channel communications. Anchoring these settlements are long-standing...more

Latham & Watkins LLP

CFTC Mandates Clearing for Interest Rate Swaps on IBOR Alternatives

Latham & Watkins LLP on

A new rule removes the requirement to clear IBOR-based swaps and extends mandatory clearing to swaps on IBOR alternatives. On August 12, 2022, the US Commodity Futures Trading Commission (CFTC) voted to amend its...more

Cadwalader, Wickersham & Taft LLP

CFTC’s Swap Reporting Advisory

Accurate and timely reporting of swap data is the cornerstone of swap regulation. The CFTC had promulgated its swap reporting rules in 2012, and were after 2012 among the first rules implementing the Dodd-Frank Act to...more

Goodwin

FinCEN Issues Proposed Rule for Beneficial Ownership Information Reporting Requirements

Goodwin on

In This Issue. The Financial Crimes Enforcement Network (FinCEN) announced (1) a notice of proposed rulemaking for beneficial ownership information reporting requirements and (2) a regulatory process for new real estate...more

Goodwin

OCC Finalizes “True Lender” Rule

Goodwin on

In the News. The Office of the Comptroller of the Currency (OCC) finalized its “true lender” rule, which establishes that a national bank or federal savings association (bank) is the “true lender” of a loan if, as of the...more

Skadden, Arps, Slate, Meagher & Flom LLP

CFTC Amends Swap Data Reporting Rules, Creates Registration Framework for Non-US Clearing Organizations

On September 17, 2020, the Commodity Futures Trading Commission (CFTC) unanimously approved final rules amending the agency’s swap data reporting and derivatives clearing organization (DCO) registration requirements. The...more

Skadden, Arps, Slate, Meagher & Flom LLP

CFTC Clarifies Meaning of ‘Actual Delivery’ in Margined, Leveraged or Financed Retail Transactions in Virtual Currencies

On March 24, 2020, the Commodity Futures Trading Commission (CFTC or Commission) voted unanimously to adopt an interpretation of the term “actual delivery” with respect to retail virtual currency transactions (2020 Guidance)....more

A&O Shearman

CFTC Approves Proposed Rule on Post-Trade Name Give-Up on Swap Execution Facilities

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In the wake of significant market discussion, the CFTC has proposed an amendment to Part 37 of the Commission’s regulations to eliminate the practice of “post-trade name give-up” for swaps traded on certain swap execution...more

Skadden, Arps, Slate, Meagher & Flom LLP

CFTC Proposes New Rules on Position Limits

On January 30, 2020, the Commodity Futures Trading Commission (CFTC or Commission) voted 3-2 to issue a proposed rulemaking on speculative position limits (the Proposal). The Proposal would apply spot month-only federal...more

WilmerHale

SEC Adopts Rule Amendments and Guidance Addressing Cross-Border Application of Certain Security-Based Swap Requirements

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On December 18, 2019, the Securities and Exchange Commission (SEC) adopted a package of rule amendments, guidance and a related order to expand and improve the framework for regulating cross-border security-based swaps,...more

Vedder Price

SEC Issues New Rules for Security-Based Swaps

Vedder Price on

On December 18, 2019, the SEC adopted certain rule amendments to enhance the framework for regulating cross-border security-based swaps. Through this effort, the SEC established a broad security-based swap regulatory regime...more

Skadden, Arps, Slate, Meagher & Flom LLP

An Illusory Promise or Real Change? Transition at CFTC Brings Hope for Dodd-Frank Act Revisions

Over the past five years, the Commodity Futures Trading Commission (CFTC) has settled 20 enforcement actions against financial institutions for violations of various Dodd-Frank Act regulatory requirements (i.e., rules other...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest, Featuring Articles on SEC Approves Amendments to FINRA New Issue Rules, CFTC Announces...

SEC/CORPORATE - SEC Approves Amended Rule Change to FINRA Rule 5110 - On December 23, 2019, the Securities and Exchange Commission approved the Financial Industry Regulatory Authority’s (FINRA) proposed amendments to...more

Akin Gump Strauss Hauer & Feld LLP

CFTC and NFA Year End Regulatory Updates

• Effective January 1, 2020, clarifying amendments to rules regarding communications with the public and use of promotional material will go into effect. • Effective February 1, 2020, CTA will be subject to new limitations...more

Orrick - Finance 20/20

CFTC Approves Measures Related to Position Limits and Position Accounting for Security Futures Products

Orrick - Finance 20/20 on

On September 16, the Commodity Futures Trading Commission (CFTC) approved a final rule amending the position limit rules applicable to security futures products (SFPs) by increasing the default maximum level of equity SFP...more

Katten Muchin Rosenman LLP

Bridging The Week - September 2019 #2

An interdealer broker agreed to pay a fine of US $13 million to the Commodity Futures Trading Commission to resolve charges that it failed to supervise brokers on a swaps desk that allegedly made numerous false or misleading...more

Katten Muchin Rosenman LLP

Bridging The Week - August 2019 #3

Two food giants agreed to resolve charges brought by the Commodity Futures Trading Commission that they manipulated or attempted to manipulate prices of the Chicago Board of Trade’s December 2011 wheat futures contract and...more

WilmerHale

The SEC Adopts Security-Based Swap Rules Governing Capital, Margin and Segregation

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On June 21, 2019, the Securities and Exchange Commission (SEC or Commission) adopted a package of rules and rule amendments (Rules) that set forth the capital, margin and segregation requirements for security-based swap...more

Katten Muchin Rosenman LLP

Bridging the Week - May 2019 #3

The Commodity Futures Trading Commission determined not to stand in the way of a rule amendment by ICE Futures U.S. to impose speed bumps on certain orders entered in two futures contracts traded on the exchange. Two...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest, Featuring Articles on Potential Updates to FINRA Rules on Corporate Bond Block Trade...

BROKER-DEALER - FINRA Requests Comment on Proposed Pilot Program to Study Changes to Corporate Bond Block Trade Dissemination - On April 12, the Financial Industry Regulatory Authority (FINRA) published a regulatory...more

Dechert LLP

NFA Amends its Information System Security Program Requirements; CFTC-Registered CPOs and CTAs Need to Take Action by April 1

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The National Futures Association (NFA), the self-regulatory organization of the futures and swap trading industry, announced to its membership on January 7, 2019 that it had amended its requirements for NFA Member Information...more

Skadden, Arps, Slate, Meagher & Flom LLP

CFTC Proposes Swap Execution Facility Rule Amendments and Seeks Comments on Post-Trade Name Give-Up

On November 5, 2018, the Commodity Futures Trading Commission (CFTC or Commission) held its first open meeting with five commissioners since May 2013. At that meeting, the Commission approved (by a 4-1 vote) proposed...more

Skadden, Arps, Slate, Meagher & Flom LLP

CFTC Adopts Permanent $8 Billion Threshold for Swap Dealer De Minimis Exception

On November 5, 2018, the Commodity Futures Trading Commission (CFTC) voted 5-0 to approve a final rule amending the swap dealer registration trigger or activity threshold. The amendments — which became effective on November...more

Orrick - Finance 20/20

CFTC Adopts Rule Amendments Simplifying CCO Duties and Annual Report Rules

Orrick - Finance 20/20 on

On August 21, 2018, the Commodity Futures Trading Commission (“CFTC“) unanimously approved final amendments clarifying and simplifying its regulations governing chief compliance officer (“CCO“) duties and annual compliance...more

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