The latest bipartisan crypto bill would give the CFTC new tools and authorities to regulate digital commodities, with a focus on market integrity and consumer protection. On August 3, 2022, a bipartisan group of US...more
The Commodity Futures Trading Commission published in the Federal Register on June 24, 2020 its final interpretive guidance concerning retail commodity transactions involving certain digital assets (2020 Guidance).1 The 2020...more
On March 24, 2020, the U.S. Commodity Futures Trading Commission (the Commission or the CFTC) finalized long-awaited interpretive guidance regarding what constitutes the “actual delivery” of a digital asset in the context of...more
After a decade of rulemaking efforts, the Commodity Futures Trading Commission is proposing revisions to its regulations concerning federal speculative position limits to conform to the Wall Street Transparency and...more
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
The Commodity Futures Trading Commission proposed to revise its position limits regime by increasing to 25 (from nine) the number of commodity derivatives contracts subject to federal limits; by augmenting the number of...more
On July 25, 2019, the Ninth Circuit reinstated the Commodity Futures Trading Commission’s (CFTC) lawsuit in CFTC v. Monex Credit Co.,1 interpreting the CFTC’s Dodd-Frank enforcement authority under Commodity Exchange Act...more
Recent reports indicate that, pending regulatory approval, the Dalian Commodity Exchange in China will open trading to foreign participants in futures contracts on soybeans, soymeal, soy oil and palm oil. This is the latest...more
What is virtual currency? Is it money? Is it a commodity? Is it a hybrid of the two or something else entirely? The answer to the question has profound implications for lenders seeking to secure loans with virtual...more
The Chicago Mercantile Exchange (CME) and the CBOE Futures Exchange (CFE) on December 1, 2017 self-certified contracts for bitcoin futures products with the U.S. Commodity Futures Trading Commission (CFTC). Additionally, on...more
Samsung, beset by top-level resignations and a mess of bribery allegations reaching the former South Korean President and the crown prince of the family’s chaebol, has announced a new slate of execs “In an effort to bring...more
Less than two weeks into the new congressional session, the U.S. House of Representatives passed by a vote of 239 to 182 the Commodity End-User Relief Act1 (the Bill or House Bill), marking the first step by the new...more
A Commission Delegated Regulation outlining Regulatory Technical Standards specifying the information on financial contracts that a firm may be required to maintain was published in the Official Journal of the European...more
The Commerce Department’s BE-180 Survey of Financial Services Transactions is a mandatory benchmark survey conducted every five years and administered by the Bureau of Economic Analysis (the “BEA”). Reports are required by...more
FERC Shares Best Practices for Stakeholder Outreach in Gas Project Permitting - The dramatic increase in domestic energy production over the past several years has resulted in the involvement of the Federal Energy...more
On September 3, the Financial Conduct Authority (FCA) published issue 49 of Market Watch, its newsletter on market conduct and transaction reporting issues. In it, the FCA sets out its findings following a thematic review it...more
The CFTC recently approved a futures contract on a dividend index as a non-security based index futures contract over the SEC’s objection that the dividend index contract could be a security future; the CFTC’s actions may...more
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
The recent, dramatic decline in the price of oil illustrates the risk that every oil and gas producer has to declining energy commodity prices. This paper discusses various methods for “hedging” or reducing price risk. In...more
On March 19, 2014, the U.S. Court of Appeals for the Seventh Circuit decided Grede v. FCStone, LLC, Nos. 13-1232, 13-1278 (7th Cir. Mar. 19, 2014), an opinion that reinforces the importance of the portability of investment...more
On December 23, CFTC provided guidance regarding requirements imposed on commodity trading advisors (CTAs) resulting from Dodd-Frank on the potential new advisory obligations of CTAs....more