Carl Kennedy on Regulatory Reform

On the Hot Seat: Brian Quintenz Faces Senate Spotlight in CFTC Confirmation Hearing

Brian Quintenz appeared before the Senate Committee on Agriculture, Nutrition, & Forestry (Senate Ag Committee) for his June 10th nomination hearing for Commodity Futures Trading Commission (CFTC or Commission) Chairman....more

6/13/2025 / CFTC , Commodity Exchange Act (CEA) , Cryptocurrency , Digital Assets , Financial Regulatory Reform , Government Agencies , Regulatory Oversight , Regulatory Reform , Senate Confirmation Hearings

Can There be Only One? The CFTC Faces an Unprecedented Moment with Potentially One Commissioner

As commissioners continue to depart, the Commodity Futures Trading Commission (CFTC or Commission) may soon find itself in an unprecedented situation - operating with only one sitting commissioner. While the Commission has...more

6/3/2025 / CFTC , Cryptocurrency , Digital Assets , Enforcement , Final Rules , Financial Regulatory Reform , Proposed Rules , Regulatory Oversight , Regulatory Reform , Rulemaking Process , Securities and Exchange Commission (SEC)

Unpacking CFTC Letters 25-09 and 25-10

Derivatives market participants continue to process the implications of two significant interpretive letters issued by the Commodity Futures Trading Commission (CFTC) staff earlier this year. Letter 25-09 effectively...more

5/23/2025 / CFTC , Derivatives , Disclosure Requirements , Financial Markets , No-Action Letters , Regulatory Reform , Swap Dealers , Swaps

Financial Markets and Funds Quick Take | Issue 38

Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more

5/21/2025 / CFTC , Cryptocurrency , Enforcement Actions , Financial Institutions , Financial Markets , Financial Regulatory Reform , Government Agencies , Investment Funds , Regulatory Reform , Securities Regulation

After 12 Enforcement Actions and 9 No-Action Letters, CFTC Staff Effectively Repeals the Pre-Trade Mid-Market Mark Disclosure...

The Commodity Futures Trading Commission's (CFTC or Commission) Market Participants Division (MPD) issued Letter 25-09, which effectively eliminates the pre-trade mid-market mark (PTMMM) disclosure requirement for uncleared...more

4/11/2025 / CFTC , Disclosure Requirements , Enforcement Actions , Financial Institutions , Financial Services Industry , No-Action Letters , Regulatory Reform , Regulatory Requirements , Securities and Exchange Commission (SEC) , Swap Dealers

CFTC Withdraws Controversial SEF Registration Staff Letter

The Division of Market Oversight (DMO) of the Commodity Futures Trading Commission (CFTC) has withdrawn its previous staff advisory letter on swap execution facility (SEF) registration requirements (Letter 21-19). ...more

4/2/2025 / CFTC , Enforcement Actions , EU , Financial Markets , Financial Regulatory Reform , Financial Services Industry , Regulatory Reform , Regulatory Requirements , UK

CFTC Acting Chairman Pham Announces Effort to Quickly Resolve Recordkeeping and Reporting Investigations and Pledges Additional...

During her keynote address at the Futures Industry Association’s International Futures Industry Conference, BOCA50, CFTC Acting Chairman Caroline D. Pham announced a new effort to encourage market participants to resolve open...more

3/12/2025 / CFTC , Civil Monetary Penalty , Enforcement Actions , Recordkeeping Requirements , Regulatory Reform , Regulatory Requirements , Reporting Requirements , Self-Reporting , Settlement

Clearer Skies Ahead: CFTC Enforcement Division's New Advisory Opens Doors for Self-Reporting and Increased Cooperation

In what is being widely viewed as a welcome breath of fresh air, the Commodity Futures Trading Commission (the Commission or CFTC) Division of Enforcement (the Division) released an advisory on February 25, detailing the...more

3/10/2025 / CFTC , Civil Monetary Penalty , Enforcement Actions , Executive Orders , Regulatory Reform , Regulatory Requirements , Risk Management , Self-Reporting , Transparency

President Trump Executive Order on Supervision of 'Independent' Agencies

Amidst a blitz of executive action, on February 18, President Donald Trump signed an executive order entitled “Ensuring Accountability for all Agencies” (Executive Order) exerting more direct control over “independent...more

2/25/2025 / CFTC , Constitutional Challenges , Consumer Financial Protection Bureau (CFPB) , Executive Orders , OIRA , OMB , Regulatory Agenda , Regulatory Oversight , Regulatory Reform , Securities and Exchange Commission (SEC)

Carl Kennedy

Katten Muchin Rosenman LLP

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