As US interest rates rose in 2022, the value of bank investments in long-dated and fixed-rate bonds declined. These declines were substantial enough to render many banks economically insolvent. Depositors not inclined to...more
The CFTC has proposed rules codifying the staff no-action relief of CFTC Letter 19-17 (thrice-renewed since, pending these rules). I’ve written about the “long and winding road” by which we got to this momentous juncture;...more
Recently the CFTC settled an administrative proceeding with an FCM that FCM risk managers will want to examine closely.
The settlement relates to allegations (among others) that the FCM violated CFTC Rules 1.11 and...more
In September 2021 CFTC staff issued an advisory (Letter 21-19) “reminding entities” of SEF registration requirements. The “entities” specifically in scope of the reminder, per that advisory, were those: (1) facilitating...more
Recently the CME settled disciplinary matters (and the CFTC simultaneously settled a separate enforcement proceeding) with a trader and the introducing broker of which the trader was a principal, involving allegations of...more
SEC to Inspect Firms for Compliance With New Advertising and Solicitation Rule -
November 4 is the compliance date for the new rule governing advertising and solicitation activities by investment advisers. The new rule...more
10/13/2022
/ Advertising ,
B2B Transactions ,
Bribery ,
California Consumer Privacy Act (CCPA) ,
CFTC ,
Cryptoassets ,
Decentralized Autonomous Organization (DAO) ,
Energy Market ,
EU ,
Foreign Investment ,
Joint Audit Committee ,
National Security ,
Securities and Exchange Commission (SEC) ,
UK
Once, many years ago, the Joint Audit Committee released a Regulatory Alert (RA 14-03) addressed to futures commission merchants that are clearing members of derivatives clearing organizations registered with the CFTC, which...more
With some frequency, Katten attorneys field questions from clients about exchange rules on off-exchange execution of futures and options on futures. This Advisory provides a high-level overview on this topic in connection...more