In Short - The Situation: In a December 13, 2023, Open Meeting, the Commodity Futures Trading Commission proposed amendments to the Commission's regulations concerning clearing member funds held by a derivatives clearing...more
The European Securities and Markets Authority has published a final report on the 2018 survey it conducted on central counterparties' membership criteria and due diligence practices, together with an update to its Q&As...more
A trader who was summarily banned in August 2016 from all CME Group exchanges for 60 days on an emergency basis agreed to pay a fine and be banned for an additional 45 days to resolve disciplinary charges that he purportedly...more
Trading Firm and Individual Trader Settle CFTC Allegations of Engaging in Wash Sales to Obtain Exchange Fee Rebates: Rosenthal Collins Capital Markets LLC (now named DV Trading LLC), a proprietary trading firm, settled...more
CME Group Revises July 2016 Proposal Authorizing End Customers to Become Direct Clearing Members Without Incurring Liability for Default of Other Members - CME Group submitted amendments to its proposed rule changes...more
CME Group Proposes New Clearing Member Category to Help Customers Avoid Pro Rata Distribution Risk in Case of FCM Insolvency: CME Group filed proposed rule changes with the Commodity Futures Trading Commission that would...more
SEC to Permit Capital Raising Through Crowdfunding: The Securities and Exchange Commission finalized rules that will permit eligible companies to raise money through Internet offerings of their securities—a practice known as...more
The Commodity Futures Trading Commission’s Market Risk Advisory Committee has announced the agenda for its November 2 meeting. The proposed meeting will discuss the Central Counterparty Clearing House Risk Management...more
The European Securities and Markets Authority (ESMA) has recognised ten third-country Central Counterparties (CCPs) in Australia, Hong Kong, Japan, and Singapore. The recognition allows these CCPs to provide clearing services...more
IOSCO Seeks Views on Business Continuity and Recovery Planning by Trading Venues and Intermediaries; NYS Warns on Third-Party Service Providers - The International Organization of Securities Commissions issued two...more
The Commodity Futures Trading Commission has issued an amended order authorizing futures commission merchants (FCMs) that are not clearing members of ICE Clear Europe Limited, but carry futures and options on futures...more
On March 23, CFTC Division of Market Oversight and Division of Swap Dealer and Intermediary Oversight issued a staff advisory to remind certain reporting parties (including futures commission merchants, clearing members,...more
On February 7, 2013, the US Department of Labor (DOL) issued Advisory Opinion 2013-01A (the “Advisory Opinion”), which provides guidance under the Employee Retirement Income Security Act of 1974 (ERISA) for employee benefit...more
The Department of Labor (DOL) recently issued a long-awaited advisory opinion (the Advisory Opinion) clarifying and confirming the ability of central counterparties (CCPs) and their clearing members (Clearing Members) to...more
New guidance defers to the Dodd-Frank/CFTC framework for regulating the swaps clearing process. On February 7, the U.S. Department of Labor (DOL) issued an advisory opinion on the application of the ERISA fiduciary rules...more