Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R- WY) introduced new proposed legislation on June 7, 2022, which would classify the vast majority of digital assets as commodities, and empower the Commodities Futures...more
6/14/2022
/ CFTC ,
Commodities ,
Cryptoassets ,
Cryptocurrency ,
Cybersecurity ,
Digital Assets ,
Environmental Social & Governance (ESG) ,
FERC ,
FinTech ,
Infrastructure Investment and Jobs Act (IIJA) ,
Investment Contract ,
NIST ,
Proposed Legislation ,
Securities and Exchange Commission (SEC)
On Monday, November 27, 2021, the National Futures Association (NFA) submitted to the CFTC proposed amendments to NFA Compliance Rule 2-7 to exclude associated persons (APs), designated as “swap” APs, from the Branch Office...more
On Friday, May 7, 2021, the Financial Industry Regulatory Authority (FINRA) filed a proposal with the Securities and Exchange Commission (SEC) to amend the provisions of a yet-to-become effective version of FINRA Rule 4210...more
The Financial Industry Regulatory Authority, Inc. (FINRA) filed a proposed rule change with the Securities and Exchange Commission (SEC) on December 22, 2020, to once more delay the implementation of amendments to FINRA Rule...more
1/12/2021
/ Adjustable-Rate Mortgage ,
Amended Regulation ,
Broker-Dealer ,
Collateralized Loan Obligations ,
Comment Period ,
Financial Industry Regulatory Authority (FINRA) ,
Margin Requirements ,
Mortgages ,
Proposed Regulation ,
Securities and Exchange Commission (SEC) ,
Time Extensions
On April 3, 2020, the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO) issued a statement recommending an extension to Phases 5 and 6 of the initial margin...more
On November 25, 2019, the Commodity Futures Trading Commission (CFTC) adopted several final regulations to codify existing exemptions from commodity pool operator (CPO) registration. Among them is an exemption that was issued...more
12/18/2019
/ Business Development Companies ,
CFTC ,
Commodity Trading Advisors (CTAs) ,
CPOs ,
Electronic Filing ,
Exemptions ,
Final Rules ,
Investment Company Act of 1940 ,
National Futures Association ,
No-Action Letters ,
Registered Investment Companies (RICs) ,
Registration Requirement
The Financial Industry Regulatory Authority, Inc. (FINRA) filed a proposed rule change with the Securities and Exchange Commission (SEC) on October 25, 2019, to once more delay the implementation of amendments to FINRA Rule...more
On August 20, 2019, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) approved amendments to the regulations implementing Section 13 of the Bank Holding Company Act,...more
8/25/2019
/ Amended Regulation ,
Bank Holding Company ,
Banking Sector ,
FDIC ,
Federal Reserve ,
Final Rules ,
Hedging ,
NPRM ,
OCC ,
Proprietary Trading ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
U.S. Treasury ,
Volcker Rule
On March 5, 2019, the National Futures Association (NFA) submitted to the Commodity Futures Trading Commission (CFTC or Commission) proposed amendments to NFA Bylaw 301 and NFA Compliance Rule 2-24 and the proposed...more
The Financial Industry Regulatory Authority, Inc. (FINRA) filed a proposed rule change with the Securities and Exchange Commission (SEC) on January 29, 2019, to once more delay, until March 25, 2020, the implementation of...more
On January 7, 2019, the National Futures Association (NFA) issued an amendment to its Interpretive Notice on required Information Systems Security Programs (ISSPs) for NFA Members. ISSPs are required by the NFA so that NFA...more
On November 5, 2018, the Commodity Futures Trading Commission (CFTC) unanimously adopted a final rule to set a permanent $8 billion swap dealing activity threshold for purposes of the swap dealer de minimis exemption (Final...more
Earlier today, the National Futures Association (NFA) launched an electronic filing system for submitting promotional materials to the NFA for review (the New Filing System). Until now, promotional materials subject to NFA...more
Earlier today, the Financial Industry Regulatory Authority, Inc. (FINRA) filed a proposal with the Securities and Exchange Commission (SEC) to further delay the implementation of amendments to its Rule 4210 that were adopted...more
Persons claiming exemptions from registration as a commodity pool operator (CPO) or a commodity trading advisor (CTA) must affirm their exemptions by March 1, 2018. Pursuant to Commodity Futures Trading Commission (CFTC)...more
The Council of the European Union (EU) has proposed an amendment to the European Market Infrastructure Regulation (EMIR) that eliminates mandatory initial margin requirements for physically settled foreign exchange (FX)...more
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
Earlier this week, the Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight extended existing no-action relief from trading on a swap execution facility for package transactions until November 15, 2020....more
On May 30, 2017, the Commodity Futures Trading Commission (CFTC) adopted final rules to amend its existing regulation 1.31 (Regulation 1.31). Regulation 1.31 sets forth the form and manner in which all records retained in...more
On March 15, 2017, while speaking at the Annual International Futures Industry Conference, J. Christopher Giancarlo, the acting chairman of the Commodity Futures Trading Commission (CFTC), and President Donald Trump’s nominee...more
The requirement that non-cleared swaps be fully margined, which is one of the last pillars of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), will take effect for “financial end-users”...more
On August 16, 2016, the International Swaps and Derivatives Association, Inc. (ISDA) published the ISDA 2016 Variation Margin Protocol (VM Protocol). The VM Protocol is intended as a tool to help market participants that will...more
On June 9, the Commodity Futures Trading Commission (CFTC) released a notice of proposed rulemaking regarding an expansion of CFTC Regulation 50.4(a). If adopted, additional classes of interest rate swaps will become subject...more
Last week, the Commodity Futures Trading Commission (CFTC) and European regulators announced that they have reached agreement on a “common approach” regarding requirements for central counterparties (CCPs) (i.e.,...more
U.S. Commodity Futures Trading Commission (CFTC) Regulation 1.35 requires futures commission merchants (FCMs), retail foreign exchange dealers (RFEDs), introducing brokers (IBs) and members of a swap execution facility (SEF)...more