NFA Chairman Chris Hehmeyer Talks Bankruptcy Reform
The Commodity Futures Trading Commission has issued an order of exemption from registration as a derivatives clearing organization (DCO) to ASX Clear (Futures) Pty Limited (ASX).
This is the first order that the CFTC has...more
Welcome to the 2015 Mid-Year Report from the BakerHostetler Securities Litigation and Regulatory Enforcement Practice Team. The purpose is to provide a periodic survey, apart from our team Executive Alerts, on matters we...more
On June 9, 2015, six federal agencies (“Agencies”) subject to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Act”) issued much-anticipated joint final standards (“Final Standards”) in accordance with...more
The Commodity Futures Trading Commission recently sued Chinese citizen Yumin Li, for violations of the Commodity Exchange Act (CEA). The CFTC accused Ms. Li of fraudulently accessing her employer’s futures account to transfer...more
The Commodity Futures Trading Commission is requesting public comment on a certification of proposed rule amendments that were filed by ICE Futures U.S. Inc.
Under the amendments, ICE Futures would base position limits...more
The Commodity Futures Trading Commission is requesting public comment on a petition for exemption from registration as a derivatives clearing organization (DCO) filed by OTC Clearing Hong Kong Limited.
With recent release, the CFTC hopes to eliminate market uncertainty on forward contracts with embedded volumetric optionality.
UPDATE (June 18, 2015): On May 12, 2015, the CFTC adopted the Proposal as proposed (as used...more
Asset managers should consider the practical implications of these recent developments.
Signaling a new area of criminal and civil securities enforcement, federal regulators are flexing their newly acquired powers under...more
The Commodity Futures Trading Commission has requested public comment on a petition by ASX Clear (Futures) Pty Limited for exemption from registration as a derivatives clearing organization (DCO).
The US Court of Appeals for the Tenth Circuit recently upheld the grant of summary judgment for the receiver of a business that was alleged to have participated in a Ponzi scheme, finding that the clawback of funds was...more
The CFTC accused Kraft Food Groups, Inc. and former parent Mondelez Global LLC with manipulation pursuant to Section 6(c)(1) of the Commodities Exchange Act and Regulation 180.1 promulgated thereunder. Regulation 180.1 makes...more
On May 18, 2015, the Commodity Futures Trading Commission (“CFTC”) published a final interpretation on forward contracts with embedded volumetric optionality (“Final EVO Interpretation”).1 In the Final EVO...more
On May 19, 2015, the Commodity Futures Trading Commission (“CFTC” or “Commission”) issued an order in response to an application from Southwest Power Pool, Inc. (“SPP”) proposing to exempt three categories of SPP transactions...more
In 2012, the Commodity Futures Trading Commission issued an interpretation that identifies the circumstances in which an agreement, contract or transaction would fall within the forward contract exclusions from the “swap” and...more
The CFTC has proposed several important changes that would alleviate the reporting and recordkeeping obligations of end users with respect to trade options (or provide by rule certain relief currently only available under...more
The CFTC plans to revive the use of administrative courts to bring enforcement actions for violations of the Commodity Exchange Act and CFTC regulations, according to recent remarks by Aitan Goelman, Director of the Division...more
We first heard about the SEC’s increased focus on high-frequency trading in June 2014 when the SEC announced its desire to promulgate new rules on high frequency trading to address the lack of transparency in dark pools and...more
Can private litigants bring claims under the Commodity Exchange Act alleging manipulation in ERCOT’s energy markets? On February 3, the U.S. District Court for the Southern District of Texas answered “no,” granting...more
On January 16, the Commodity Futures Trading Commission (CFTC) issued a settlement order requiring Summit Energy Services, Inc. (Summit Energy) to pay a $140,000 civil monetary penalty for acting as an unregistered commodity...more
The CFTC Exercises Expanded Jurisdiction Over Retail Transactions in Physical Commodities.
Title VII of the Dodd-Frank Act of 2010 amended the Commodity Exchange Act (CEA) to add new authority over certain leveraged,...more
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
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
On Jan. 14, 2015, the effort to repeal or amend certain provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank) continued in the heavily Republican House of Representatives with the...more
On January 13, President Obama signed legislation that aligns the rules relating to swap clearing and mandatory margin for uncleared swaps so that any entity that qualifies for an exemption from clearing its swaps also is...more
On December 29, 2014, ICE Futures U.S. (ICE) proposed a new rule to prohibit certain disruptive trading practices. The proposed rule broadly prohibits any manipulative or disruptive trading practice as defined by the...more
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