CFTC Proposal Poses “Monumental” Challenge to FCMs
US Broker-Dealer, Its CEO and a Non-US Client Sued by SEC for Layering and Other Manipulative Schemes - Lek Securities Corporation (“LEK”), a US-registered broker-dealer and Samuel Lek, its 70 percent owner and chief...more
SEC Updates to Form PF FAQs - On January 18, the Securities and Exchange Commission’s Division of Investment Management updated its Form PF FAQs. Registered investment advisers managing private funds with at least $150...more
In In re Estate of Morgenroth, a mother died testate with a will that gave specific devises to her two children, a son and daughter. No. 05-15-00777-CV, 2016 Tex. App. LEXIS 7857 (Tex. App.—Dallas July 25, 2016, no pet....more
Over the last year and a half, asset managers of collateralized loan obligations (“CLO Managers”) have been focused on developing various strategies to enable them to comply with the retention requirements of the final U.S....more
SEC/CORPORATE - SEC Division of Corporation Finance Issues 12 New and Revised C&DIs Regarding Non-GAAP Measures - As noted in the May 13 edition of Corporate and Financial Weekly Digest, SEC Chair Mary Joe White,...more
CFTC Advisory Committee Says There Is No Evidence Justifying Proposed New Position Limits: A report issued by the Energy and Environmental Markets Advisory Committee of the Commodity Futures Trading Commission roundly...more
On March 17, the Commodity Futures Trading Commission approved a final rule amending CFTC Regulation 1.22 to remove the December 31, 2018 automatic termination date relating to the phased-in compliance period for the Residual...more
On March 17, the U.S. Commodity Futures Trading Commission (Commission) unanimously approved a final rule removing the December 31, 2018 automatic termination of the phased-in compliance period for the Residual Interest...more
In October 2014, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, the Federal Housing...more
CFTC Proposes a Cornucopia of Measures to Avoid Unintended Consequences - At a public hearing on November 3, the Commodity Futures Trading Commission proposed three measures intended to avoid unintended consequences...more
In 2013, the Commodity Futures Trading Commission amended CFTC Regulation 1.22 to require a futures commission merchant (FCM) to maintain its own funds (i.e., residual interest) in customer segregated accounts in an amount...more
In a case of first impression, Frank Aragona Trust v. Commissioner, 142 T.C. No. 9 (Mar. 27, 2014), the Tax Court held that a trust could materially participate in a trade or business based upon the activities of the...more
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