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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 -

FINRA Holds Regulator Forum on Distributed Ledger Technology

On July 13, 2017, the Financial Industry Regulatory Authority, Inc. (FINRA) held a Blockchain Symposium (the Symposium) in which representatives from a number of US regulators discussed the work they have undertaken to assess...more

Commodity Futures Trading Commission Launches Cooperation Initiative

by Zuckerman Spaeder LLP on

When investigating potential wrongdoing, government investigators have powerful tools that they can use to obtain information. As the U.S. Attorneys’ Manual explains, one such tool is the ability to enter into non-prosecution...more

U.S. Commodity Futures Trading Commission Enters Into Its First Public Non-Prosecution Agreements

by Allen & Overy LLP on

On June 29th, 2017, the U.S. Commodity Futures Trading Commission (CFTC) entered into the first public non-prosecution agreements in its history with three former Citigroup traders, pledging not to pursue civil...more

Reminder of Effective Date of Filing Requirement under CFTC Position Limit Aggregation Exemption Rules

by Ropes & Gray LLP on

The new notice filing requirement for continued reliance on certain exemptions from aggregation under the CFTC’s position limit rules becomes effective on August 14, 2017. This requirement is under the CFTC’s final rules...more

Bridging the Week - July 2017 #2

New SEC Chairman Previews Governing Principles; Stresses Commitment to Working With CFTC: Last week, Jay Clayton, newly appointed Chairman of the Securities and Exchange Commission, enumerated eight “guiding principles” that...more

CFTC Launches Review of Swap Reporting Regulations

On July 10, 2017, the Division of Market Oversight (DMO) of the Commodity Futures Trading Commission (CFTC or Commission) announced the launch of a comprehensive review of the swap data reporting regulations1 adopted by the...more

Corporate and Financial Weekly Digest - Volume XII, Issue 26

SEC/CORPORATE - SEC Expands Nonpublic Review of Draft Registration Statements - On June 29, the Division of Corporation Finance (Division) of the Securities and Exchange Commission announced that, beginning on July 10,...more

Magistrate Advises Serious Sanctions Against Trading School Owner Greg Gramalegui for Bad Faith Discovery Violations

by Zapproved LLC on

Magistrate Advises Sanctions Against Gramalegui for Discovery Violations - U.S. Commodity Futures Trading Comm’n v. Gramalegui, No. 15-cv-02313-REB-GPG (D. Colo. June 14, 2017). For over two years, the defendant,...more

Southern District Decision Dismisses Commodity Exchange Act Claims Based on Morrison

The U.S. District Court in the Southern District of New York recently dismissed a class action lawsuit alleging, among other claims, that a large number of entities and individuals in the market for producing, refining and...more

SEC, CFTC and OSHA Officials Offer Candid Insights into Whistleblower Programs’ Results, Priorities, and Future Directions

On June 28, 2017, three prominent whistleblower law regulators spoke at PLI’s Corporate Whistleblowing in 2017, which was co-chaired by Orrick partners Mike Delikat and Renee Phillips. With the standard disclaimer that their...more

CFTC Modernizes Recordkeeping Standards

On May 30, 2017, the Commodity Futures Trading Commission (CFTC) adopted final rules to amend its existing regulation 1.31 (Regulation 1.31). Regulation 1.31 sets forth the form and manner in which all records retained in...more

Initial Coin Offerings: An Overview of Regulatory Considerations

In recent months, a variety of companies have considered "initial coin offerings" (ICOs) as a way to generate money for their businesses. Companies considering ICOs should be aware that, depending on the structure of the...more

Financial Services Quarterly Report - Second Quarter 2017: U.S. CFTC Takes Steps to Modernize Rules and Operations and to Reduce...

by Dechert LLP on

Against a backdrop of changing markets, rapidly evolving technology and increased jurisdiction, the U.S. Commodity Futures Trading Commission (CFTC) – the regulatory agency with responsibility for oversight of the U.S....more

US Regulators Launch Fintech Initiatives

by Morgan Lewis on

Two US regulators recently launched initiatives that will encourage cooperation between the securities industry and its regulators with respect to financial technology (fintech) innovations. The US Commodity Futures Trading...more

An Overview of the CFTC’s Modernized Recordkeeping Requirements

by Reed Smith on

On May 23, 2017, the U.S. Commodity Futures Trading Commission unanimously approved a revamped CFTC Rule 1.31, which specifies the form and manner that records must be kept by commodities market participants, and a slight...more

CFTC Unanimously Approves Revisions to Delegated Authorities and Technical Amendments

On June 20, 2017, the U.S. Commodity Futures Trading Commission (“Commission“) unanimously approved a Final Rule on Revisions to Commission Delegated Authority Provisions and Technical Amendments (“Final Rule“). As a result...more

Treasury Department Report: Decreasing Regulatory Burdens, Increasing Regulatory Accountability and Fostering Economic Growth

On June 12, 2017, the U.S. Treasury Department released its report to the President, "A Financial System That Creates Economic Opportunities – Banks and Credit Unions," authored by Steven Mnuchin, Secretary, and Craig...more

Bridging the Week - June 2017 #3

EC Proposes Two-Tier System for Classifying Third-Country CCPs; Certain Systemically Important CCPs May Be Required to Relocate to the EU: The European Commission proposed measures that would substantially amend its...more

CFTC Adopts Amendments to its Recordkeeping Rules

by Morrison & Foerster LLP on

On May 23, 2017, the Commodity Futures Trading Commission (“CFTC”) finalized rule amendments to its recordkeeping rule, CFTC Reg. 1.31, as well as related technical amendments to CFTC Regs. 1.35 and 23.203. CFTC Reg. 1.31...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Because we haven’t spilled enough ink on GE this week, Dealbook’s Common Sense column asks if GE’s decline (at least from a stock performance perspective) wasn’t so much Jeff Immelt’s doing as it was Jack Welch’s....more

Bridging the Week - June 2017 #2

Diamonds May Be Forever, but US Supreme Court Rules SEC Ability to Seek Disgorgement Limited to Five Years: The United States Supreme Court ruled last week that the Securities and Exchange Commission may only commence...more

Chris Lazarini Comments on When Appellate Courts May Consider Arguments Not Raised Below

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini commented on a case in which a former commodities broker appealed a decision ordering him to pay restitution to his former firm which had made its customers whole after the broker's...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - Fee Rate Advisory #3 for Fiscal Year 2017 - On May 31, 2017, the Securities and Exchange Commission ("Commission") announced that starting July 4, 2017, the fee rates applicable to most...more

7th Circuit Discusses Equitable Tolling

Seeking regulatory relief from even an exotic statute like the the Commodity Exchange Act requires adherence to the relevant provisions of the law. Failure to comply with, for example, a provision governing timely pursuing a...more

Bridging the Week - June 2017

Former Newbie Bank Trader Pleads Guilty to Criminal Charges and Settles CFTC Civil Charges for No Fine for Spoofing, Attempted Manipulation and Manipulation of Gold and Silver Futures: David Liew, a former junior trader...more

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