On March 11, 2025 at the 50th Annual International Futures Industry (“FIA”) Conference, Commodity Futures Trading Commission (“CFTC”) Acting Chairman Caroline Pham delivered a ground-breaking keynote covering administrative...more
3/21/2025
/ Capital Markets ,
CFTC ,
Cryptocurrency ,
Derivatives ,
Digital Assets ,
Enforcement Actions ,
Penalties ,
Regulatory Agenda ,
Regulatory Reform ,
Regulatory Requirements ,
Swaps
Sometimes a small footnote (which technically is not even a part of the official Federal rule) may have an outsize impact on the rule itself. In 2013, subsequent to the enactment of the Dodd Frank Act of 2010, the Commodity...more
On November 3, 2023, the Commodity Futures Trading Commission (“CFTC”) proposed to significantly amend the rules on investment of customer funds by futures commission merchants (“FCMs”) and derivatives clearing organizations...more
11/14/2023
/ CFTC ,
Comment Period ,
Commodity Exchange Act (CEA) ,
Customer Funds ,
Derivatives Clearing Organizations ,
Futures Commission Merchants (FCMs) ,
Investment ,
Proposed Rules ,
Public Comment ,
Regulatory Agenda ,
Regulatory Reform ,
Swaps
On September 22, 2023, the Commodity Futures Trading Commission’s (the “CFTC” or the “Commission") Division of Market Oversight extended its no-action position regarding certain large trader reporting (“LTR”) obligations for...more
On May 17, the staff of Commodity Futures Trading Commission (“CFTC”) Division of Clearing and Risk (“DCR”) issued an advisory (“Advisory”) that encourages entities using prime brokerage (“PB”) arrangements that provide...more
Two settled enforcement actions in April 2023 indicate that the Commodity Futures Trading Commission (“CFTC”) is expecting increased swaps disclosure by swap dealers under the Dodd-Frank Act of 2010 and applicable CFTC...more
Many of the transactions involving qualified financial contracts (“QFC”) with Silicon Valley Bank (“SVB”) and Signature Bank constitute Commodity Futures Trading Commission (“CFTC”) jurisdictional transactions that may be...more
3/15/2023
/ CFTC ,
Commodities ,
Deposit Accounts ,
Deposit Insurance ,
Depository Institutions ,
Derivatives ,
Enforcement Actions ,
FDIC ,
Financial Institutions ,
Futures ,
Insolvency ,
Qualified Financial Contracts (QFC) ,
Receivership ,
Silicon Valley ,
Swaps
In response to changes in business practices, regulations and laws eventually change, too. During the past few years derivatives markets are witnessing this change as it applies to trading facilities as well as to entities...more
3/3/2023
/ CFTC ,
Commodity Trading Advisors (CTAs) ,
Decentralized Autonomous Organization (DAO) ,
Decentralized Finance (DeFi) ,
Derivatives ,
Designated Contract Markets (DCMs) ,
Digital Assets ,
Dodd-Frank ,
European Securities and Markets Authority (ESMA) ,
Financial Markets ,
Securities and Exchange Commission (SEC) ,
Swap Dealers ,
Swap Execution Facilities ,
Swaps
On October 21, Commodity Futures Trading Commission (“CFTC”) Commissioner Caroline D. Pham issued a concurring statement to the CFTC’s amended complaint originally filed on April 27, 2022 in the U.S. District Court for the...more
11/3/2022
/ CFTC ,
Commodity Exchange Act (CEA) ,
Derivatives ,
Disclosure ,
Enforcement Actions ,
Fraud ,
Market Manipulation ,
Over The Counter Derivatives (OTC) ,
Regulatory Violations ,
Securities and Exchange Commission (SEC) ,
Security-Based Swaps ,
Swaps
On September 26, the Commodity Futures Trading Commission (“CFTC”) published an order settling charges against Asset Risk Management, LLC (“ARM”), a registered commodity trading advisor (“CTA”) headquartered in Houston,...more
10/14/2022
/ CFTC ,
Commodities ,
Commodity Trading Advisors (CTAs) ,
Enforcement Actions ,
Failure to Comply ,
Market Participants ,
Registration Requirement ,
Sanctions ,
Swap Execution Facilities ,
Swap Market ,
Swaps
Accurate and timely reporting of swap data is the cornerstone of swap regulation. The CFTC had promulgated its swap reporting rules in 2012, and were after 2012 among the first rules implementing the Dodd-Frank Act to...more
6/17/2022
/ Amended Rules ,
CFTC ,
Derivatives Clearing Organizations ,
Designated Contract Markets (DCMs) ,
Dodd-Frank ,
Regulatory Reform ,
Reporting Requirements ,
Swap Data Repositories ,
Swap Dealers ,
Swap Execution Facilities ,
Swaps