News & Analysis as of

Derivatives Futures Commission Merchants (FCMs)

Katten Muchin Rosenman LLP

The CFTC’s Large Trader Rules Get a Makeover

Part 17 of the CFTC’s regulations require futures commission merchants, clearing members of registered derivatives clearing organizations, and foreign brokers holding omnibus accounts with such FCM clearing members to submit...more

Blank Rome LLP

Part 7: The Ordinary Course of Business and the Separate Account Election

Blank Rome LLP on

This post is the next installment in a multi-part series on CFTC Regulation §1.44, as proposed by the U.S. Commodity Futures Trading Commission (the “CFTC”) on February 20, 2024 (the “Proposed Rule”)....more

Blank Rome LLP

Part 5: The Margin Adequacy Requirement of Proposed CFTC Regulation §1.44

Blank Rome LLP on

This post continues our multi-part series on proposed CFTC Regulation §1.44 (the “Proposed Rule”). If adopted, the Proposed Rule will require every futures commission merchant (“FCM”) to ensure that a customer does not...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - February 2024 - 2

Editor's Note The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically...more

WilmerHale

CFTC Year in Review: 23 Takeaways From 2023 and Predictions for 2024

WilmerHale on

At an industry event in early 2023, Commodity Futures Trading Commission (CFTC or the Commission) Chairman Rostin Behnam set out a comprehensive agenda to include nearly three dozen rulemaking proposals as well as “business...more

Katten Muchin Rosenman LLP

CFTC Proposes to Amend Customer Funds Investment Rule Including to Again Permit Investments in Certain Non-US Sovereign Debt

The Commodity Futures Trading Commission (CFTC) has proposed to lessen a blanket restriction on the investment of customer funds in all non-United States sovereign debt instruments that was imposed on future commission...more

Troutman Pepper

Coinbase Approved to Operate a Futures Commission Merchant

Troutman Pepper on

Coinbase Financial Markets, Inc., a leading cryptocurrency exchange, announced that it has secured regulatory approval from the National Futures Association (NFA) to operate a futures commission merchant offering crypto...more

Katten Muchin Rosenman LLP

Funds NOT Immediately Available: Actions FCMs Should Take to Protect Customer Funds Deposited at Distressed Banks

As US interest rates rose in 2022, the value of bank investments in long-dated and fixed-rate bonds declined. These declines were substantial enough to render many banks economically insolvent. Depositors not inclined to...more

Cadwalader, Wickersham & Taft LLP

CFTC Charges Binance and its Founder with Multiple CEA Violations

On March 27, the Commodity Futures Trading Commission (“CFTC”), the U.S. derivatives regulator, charged three Binance entities (collectively “Binance”) and its founder and chief compliance officer (“CCO”) with numerous...more

Cadwalader, Wickersham & Taft LLP

CFTC Considers FTX’s Democratized Clearing Proposal

On May 25, 2022, the U.S. Commodity Futures Trading Commission (“CFTC”) conducted a public hearing to consider a request from LedgerX, LLC, d.b.a. FTX US Derivatives (“FTX”), to amend its order of registration as a...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest, Featuring Articles on Swaps, CFTC Initial Margin Phase 5, Brexit, and EU Obligations of...

DERIVATIVES - SEC Issues Statement on Swap Business Conduct Rules - On October 31, the Securities and Exchange Commission took an unusual additional step towards implementing its rules for security-based swaps (SBS) by...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest, Featuring Topics on SEC/Corporate, Broker-Dealer, Derivatives, CFTC, Digital Assets and...

SEC/CORPORATE - SEC Issues Smaller Reporting Company Compliance Guide - On August 10, the staff of the Securities and Exchange Commission published A Small Entity Compliance Guide for Issuers (the Guide), which...more

Eversheds Sutherland (US) LLP

Marginal adjustments?!

On October 12, 2017, the Division of Clearing and Risk (Division) of the US Commodity Futures Trading Commission (CFTC) issued an interpretative letter in response to a request for clarification on whether payments of...more

Skadden, Arps, Slate, Meagher & Flom LLP

"CFTC Proposes Regulation AT for Automated Trading"

The Commodity Futures Trading Commission (CFTC) has proposed new rules — Regulation Automated Trading (Regulation AT) — that would impose new and potentially burdensome risk and compliance controls on any person engaged in...more

K&L Gates LLP

CFTC Ownership and Control Reports

K&L Gates LLP on

The Commodity Futures Trading Commission (“CFTC”), the federal agency that regulates trading in futures and other derivatives in the United States, has long maintained and operated a Large Trader Reporting System (“LTRS”) as...more

Eversheds Sutherland (US) LLP

Legal Alert: New CFTC Rules Provide Broad Enhancement of Protections for Customers of FCMs - But at a Cost

On October 30, 2013, in a 3-1 vote, the Commodity Futures Trading Commission (CFTC or the Commission) approved final rules that significantly strengthen the protections afforded to customers of futures commission merchants...more

Orrick - Finance 20/20

CFTC Proposal for Enhanced FCM and DCO Protections

Orrick - Finance 20/20 on

On October 23, the CFTC proposed new regulations and amendments to existing regulations to enhance protections for customers and to strengthen safeguards for the holding of money, securities, and other property deposited by...more

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