On December 13, 2023, the Securities and Exchange Commission (SEC) voted (4-1) to adopt new requirements under the Securities Exchange Act of 1934 (Exchange Act), which will restructure the clearance and settlement of...more
On November 20, 2023, the SEC filed a complaint in the United States District Court for the Northern District of California against Payward, Inc. and Payward Ventures, Inc. which, together, do business as Kraken. The...more
On May 30, 2023, the Division of Clearing and Risk (“DCR”) of the Commodity Futures Trading Commission (“CFTC”) issued an advisory (“05/30/23 DCO Advisory”) relating to registered, or those seeking to register as, derivatives...more
On May 25, 2022, the U.S. Commodity Futures Trading Commission (“CFTC”) conducted a public hearing to consider a request from LedgerX, LLC, d.b.a. FTX US Derivatives (“FTX”), to amend its order of registration as a...more
On 27 January 2021, the European Commission adopted an equivalence decision determining that the legal and supervisory arrangements applicable to US central counterparties (CCPs) registered with the Securities and Exchange...more
Google will pay a “record $170 million fine and make changes to protect children’s privacy on YouTube” as part of a deal it reached this week with the FTC and NY AG’s office, both of whom had accused YouTube of “violating the...more
U.S. Financial Industry Developments - CFTC Proposes Rules to Simplify Process for Foreign Clearing Organizations to Obtain DCO Registration Exemption - On August 8, 2018, the Commodity Futures Trading Commission (CFTC)...more
The Commodity Futures Trading Commission, German regulators Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and Deutsche Bundesbank (Bundesbank) have entered into a memorandum of understanding (MOU) related to the...more
SEC/CORPORATE - ISS Releases 2016 Draft Voting Policy Changes for Comment - On October 26, Institutional Shareholder Services (ISS), a leading proxy advisory firm, released for comment draft voting policy changes...more
The Commodity Futures Trading Commission’s Market Risk Advisory Committee will hold a public meeting on November 2 from 10:00 a.m. to 1:30 p.m. The Committee will discuss a subcommittee’s recommendations on the effectiveness...more
The Commodity Futures Trading Commission has signed a memorandum of understanding (MOU) with two Korean regulators, the Korean Financial Services Commission and the Korean Financial Supervisory Service to enhance the...more
NYDFS Issues BitLicense Framework for Regulating Virtual Currency Firms - The New York State Department of Financial Services issued final regulations requiring a so-called “BitLicense” and establishing minimum...more
On November 24, the Commodity Futures Trading Commission’s (CFTC) Division of Clearing and Risk (DCR) issued a no-action letter to expand previously issued relief, that is available to “treasury affiliates,” from the...more
On December 18, the Division of Clearing and Risk (DCR) of the Commodity Futures Trading Commission extended the no-action relief previously granted to four foreign clearing organizations: ASX Clear (Futures) Pty Limited,...more
The Commodity Futures Trading Commission and Reserve Bank of Australia signed a memorandum of understanding (MOU) regarding the cooperation and the exchange of information in the supervision and oversight of clearing...more
The proposal is consistent with international recommendations and Basel III criteria. On March 12, the Securities and Exchange Commission (SEC) proposed new rules and rule amendments (the Proposal) that would enhance...more
The SEC has proposed standards for “covered clearing agencies,” which would include registered clearing agencies that (i) have been designated as systemically important by the Financial Stability Oversight Council and for...more
On March 12, the Honorable Katharine B. Forrest of the United States District Court for the Southern District of New York ordered Fabrice Tourre, a former Goldman Sachs trader convicted of violation of federal securities...more
In this issue: - NASDAQ Launches Marketplace for Private Companies - SEC Proposes Rules to Enhance Oversight of Clearing Agencies - FINRA Proposes to Amend Rules 2210 and 2214 - CME Group Exchanges...more
On Thursday, March 28, 2013, the Commodity Futures Trading Commission (the "CFTC") approved a final order that exempts certain non-financial energy derivative transactions between and amongst government-owned electric...more
The Securities and Exchange Commission issued a final rule affecting clearing agencies registered with both the SEC and the Commodity Futures Trading Commission. The final rule allows certain rule changes by such dually...more