On October 23, 2020, the International Swaps and Derivatives Association (ISDA) published its long-awaited IBOR Fallbacks Supplement (Supplement) and IBOR Fallbacks Protocol (Protocol), marking a major milestone in the effort...more
Recent and significant regulatory and legislative events in the digital asset space demonstrate the evolving and expanding approach by U.S. and international regulators to the burgeoning digital asset markets. These...more
10/31/2020
/ Banks ,
Blockchain ,
CFTC ,
Civil Monetary Penalty ,
Consent Order ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Derivatives ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Enforcement Actions ,
FinCEN ,
Global Market ,
Initial Coin Offering (ICOs) ,
Legislative Agendas ,
OCC ,
OECD ,
Offshore Listings ,
Regulatory Oversight ,
Restricted Transactions ,
Securities and Exchange Commission (SEC) ,
Securities Tokens ,
Smart Contracts ,
Stablecoins ,
Summary Judgment ,
Taxation ,
UK ,
Virtual Currency
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
7/31/2019
/ Administrative Authority ,
Appeals ,
CFTC ,
Commodities ,
Commodity Exchange Act (CEA) ,
Commodity Futures Contracts ,
Derivatives ,
Dodd-Frank ,
Fraud ,
Price Manipulation ,
Reversal ,
Swaps
In 2018, the Commodity Futures Trading Commission (CFTC or Commission) began operating with a full complement of five commissioners for the first time since 2014. Soon thereafter, it held a rare open meeting to propose major...more
1/22/2019
/ CCPs ,
CFTC ,
Commodity Exchange Act (CEA) ,
Derivatives ,
Dodd-Frank ,
Enforcement Actions ,
EU ,
Extraterritoriality Rules ,
Jurisdiction ,
Legislative Agendas ,
Regulatory Agenda ,
Swap Execution Facilities ,
Swaps
On June 25, 2018, the International Swaps and Derivatives Association (ISDA) and other trade associations published a report on the results of a survey of market participant preparedness for the anticipated global transition...more
The U.S. Federal Reserve Board is requesting public comment on proposed plans for the Federal Reserve Bank of New York and the Office of Financial Research to publish three new reference rates intended as alternatives to the...more
8/28/2017
/ Banking Sector ,
Derivatives ,
Federal Reserve ,
Financial Markets ,
FRBNY ,
FSOC ,
Interest Rates ,
Libor ,
Loans ,
Mortgages ,
Popular ,
Public Comment ,
Repossess ,
Stock Trades
Plans to end the long reign of the London Interbank Offered Rate (LIBOR) as one of the world's most often-used interest rate benchmarks have recently been confirmed by several top financial regulators. On July 27, 2017,...more
8/16/2017
/ Alternative Methods ,
Banking Sector ,
Benchmarks ,
CFTC ,
Derivatives ,
EU ,
Financial Conduct Authority (FCA) ,
FSOC ,
Interest Rates ,
ISDA ,
Libor ,
Loans ,
Swaps ,
UK
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
1/20/2017
/ Algorithmic Trading ,
CFTC ,
Commodities ,
Commodity End-User Relief Act ,
Commodity Futures Contracts ,
Cross-Border Transactions ,
Derivatives ,
Dodd-Frank ,
Mandatory Clearing Requirements ,
Margin Requirements ,
Proposed Legislation ,
Swaps
The Commodity Futures Trading Commission has issued an amendment to the Regulation AT framework it originally proposed in December 2015 for automated trading on U.S. derivatives exchanges. Addressing the issues raised in the...more
The CFTC’s newly proposed rules on cross-border transactions address which swap activities affect swap-dealer thresholds and trigger transaction-level swap requirements. These are the latest in a series of CFTC rulemakings,...more