Regulation 2013: Dodd-Frank Position Limits, CFTC Reuthorization, Regulatory Harmonization
In September 2011 we published an article entitled Enforcement of Antidumping and Countervailing Duties – Know the Products You Import. ...more
The Commodity Futures Trading Commission (CFTC) intends to will reveal it’s new rule on speculative positions limits within the next six weeks. ...more
Introduction - The knock-on effects of the global economic crisis have influenced the financing of the commodities trading industry. Changes in the regulatory landscape in Europe and the United States have likewise...more
Every year, we survey Morrison & Foerster’s Global Sourcing Group lawyers around the world to create a snapshot of the current state of the global outsourcing market and to identify emerging trends that are likely to shape...more
The North American grain market has experienced considerable difficulties in recent years. Severe droughts caused by record heats in 2011-2012 resulted in low yields and a deterioration in the quality of key crops such as...more
Flash back ten years, and Argentina enjoyed an average annual growth of 9%, was the strongest economy in Latin America and considered an impending rival to the up-and-coming BRIC countries. Over the ensuing years, as...more
On March 15, the D.C. Circuit Court of Appeals dealt the Federal Energy Regulatory Commission (“FERC”) a major setback in its enforcement efforts by ruling that FERC had encroached on the exclusive jurisdiction of the...more
In This Issue: *Financial Industry Developments - CFTC No-Action Relief for Commodity Trader Advisor Registration - CFTC Regulations on Associated Persons of Swap Dealers and Major Swap Participants -...more
The first item on the UCITS agenda for 2013 – the ESMA Guidelines on ETFs and Other UCITS Issues (the “Guidelines”) – has gone live. This article provides an update and clarity around the recently finalised Guidelines2 since...more
If your company is sued to recover money or property transferred to it by a debtor prior to the filing of its bankruptcy petition, be aware that there is a potentially dispositive defense under Section 546(e) of the...more
A key feature of the price assessment processes utilised by price reporting agencies (PRAs), such as Platts, Argus and ICIS in the oil and gas markets, is the "Market-on-Close" (MOC) approach. An important part of the MOC...more
Implementation of the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) affecting users of swaps and derivatives has been moving forward. Numerous rules of the Commodity Futures...more
Because debtors may avoid certain transfers and contracts entered into during the ninety days before they filed their bankruptcy petition, trade creditors are understandably nervous about entering into contracts with...more
Sanjeev Joshipura, president of Commodity Markets Council, talks about how Dodd-Frank rules will impact his membership base. Joshipura talks with JLN editor-in-chief Jim Kharouf about the future of the controversial...more
National Futures Association (NFA) issued a notice to members relating to reporting requirements for commodity trading advisors (CTAs)...more
There were a number of significant changes to the regulatory regime for commodity pool operators (CPOs) and commodity trading advisors (CTAs) in 2012. As a result of these changes, various types of collective investment...more
In response to inquiries from federally regulated financial institutions (“FRFIs”), the Office of the Superintendent of Financial Institutions (“OSFI”) has published Advisory 2013-01, Business and Powers – Ownership Interest...more
The Commodity Futures Trading Commission has issued a final exemptive order regarding the cross-border application of certain swaps provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act. Pursuant to the...more
Final rules require tape recording by futures commission merchants, introducing brokers, retail foreign exchange dealers, and commodity trading advisors; affected CFTC registrants must implement systems to comply by December...more
The Commodity Futures Trading Commission (CFTC) recently announced its second enforcement action against a commodity trader for engaging in the manipulative scheme called “spoofing.” U.S. Commodity Futures Trading Commission...more
On December 17, 2012, the Commodity Futures Trading Commission (CFTC) adopted final rules amending CFTC Regulations 1.31 and 1.35. The final rules require certain market participants to record oral communications that lead to...more
IntercontinentalExchange, Inc., an operator of global markets and clearing houses, and NYSE Euronext, a global equity, equity options and fixed income derivatives market operator, announced a definitive agreement for ICE to...more
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