At the heart of the statutory and regulatory framework governing transactions in derivatives in the United States is a customer asset protection regime that requires futures commission merchants (FCM) and derivatives clearing...more
The 2024 US elections may signal a shift in the policy orientation of other federal financial regulators, but at the Commodity Futures Trading Commission (CFTC or Commission), at least in the short-term, the most significant...more
Part 17 of the CFTC’s regulations require futures commission merchants, clearing members of registered derivatives clearing organizations, and foreign brokers holding omnibus accounts with such FCM clearing members to submit...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
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