News & Analysis as of

Commodities Financial Services Industry

Cadwalader, Wickersham & Taft LLP

Groundbreaking and Informative – CFTC’s KuCoin Complaint

On March 26, 2024, the U.S. Commodity Futures Trading Commission (“CFTC”) filed a complaint (the “Complaint”) in the U.S. District Court for the Southern District of New York (“SDNY”) for injunctive and other relief against...more

Skadden, Arps, Slate, Meagher & Flom LLP

Taking Stock of Commodity Derivatives Regulation in the UK and EU

In July 2021, HM Treasury published the Wholesale Markets Review consultation (WMR), which included proposals to reform the U.K.’s secondary markets framework. There was broad support for reforms to (a) modify the ancillary...more

Cornerstone Research

Alleged Market Manipulation and the Pre-hedging of Large Trades

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Pre-hedging, or anticipatory hedging, is one of many risk management tools often used in principal-based OTC markets, such as commodities, foreign exchange (FX), or interest rate swap markets. It refers to trading conducted...more

Cadwalader, Wickersham & Taft LLP

CFTC Further Expands the Definition of CTA

On August 29, 2023, the U.S. District Court for the Western District of Texas entered a consent order ("Order") and imposed sanctions on Barelt Media and its owner Ryan Masten for operating an unregistered commodity trading...more

The Volkov Law Group

U.S. Department of Justice Unseals Indictment against Celsius Network’s Alexander Mashinsky

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On July 13, 2023, U.S. prosecutors unsealed an indictment against Alexander Mashinsky, the founder and former CEO of beleaguered Celsius Network LLC (“Celsius”) charging him with securities fraud, commodities fraud, and wire...more

Cadwalader, Wickersham & Taft LLP

JPMorgan Outlines Voluntary Carbon Market Principles

In a recently published white paper, JPMorgan outlined its approach to improving and strengthening voluntary carbon markets to promote scalable decarbonization efforts. JPMorgan focused its analysis on voluntary carbon...more

Sullivan & Worcester

The Electronic Trade Documents Act 2023 To Become Law

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London, UK - The Electronic Trade Documents Act (ETDA) will shortly receive Royal Assent and will come into effect two months later. The culmination of years of work by many people and industry bodies, once it takes...more

A&O Shearman

Help Wanted: CFTC invites whistleblowers to look for fraud and manipulation in the carbon markets

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The U.S. Commodity Futures Trading Commission’s (CFTC) Whistleblower Office took the unusual step of inviting market participants to look for and submit tips related to fraud, manipulation, and other forms of misconduct in...more

Cadwalader, Wickersham & Taft LLP

CFTC Charges Binance and its Founder with Multiple CEA Violations

On March 27, the Commodity Futures Trading Commission (“CFTC”), the U.S. derivatives regulator, charged three Binance entities (collectively “Binance”) and its founder and chief compliance officer (“CCO”) with numerous...more

Cadwalader, Wickersham & Taft LLP

First Attempt to Regulate Spot Digital Asset Activities

On March 29, the National Futures Association (“NFA”) promulgated Compliance Rule 2-51, setting forth Requirements for Members and Associates Engaged in Activities Involving Digital Asset Commodities, which includes both...more

A&O Shearman

Abu Dhabi Global Market Enhances Its Environmental, Commodities, Digital and Capital Markets Framework

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The Abu Dhabi Global Market (ADGM) has recently published new financial services amending regulations and various amended rulebook modules. These wide-ranging measures update ADGM’s rules on environmental matters, virtual...more

A&O Shearman

UK Financial Services and Markets Bill 2022

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The recently published Financial Services and Markets Bill (FSM Bill) is intended to recast the U.K.’s regulatory architecture post-Brexit. It was introduced to Parliament on 20 July 2022. The Bill implements the outcomes of...more

Nutter McClennen & Fish LLP

Nutter Bank Report: October 2021

Federal and State Financial Regulators Publish New Guidance on LIBOR Transition - The federal banking agencies, the NCUA and the CFPB, in conjunction with the state bank and state credit union regulators, have issued joint...more

White & Case LLP

LatAm M&A rebounds

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M&A is back in Latin America. As COVID-19 hit the region hard in 2020, M&A volume and value in Latin America and the Caribbean slid 15% and 27% respectively year on year, together logging only 651 deals worth US$68 billon....more

Hogan Lovells

MiFID II Quick Fix – overview and further MiFID II review process (Deutsche and English)

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As a reaction to the coronavirus and the associated disruptions, the European Commission published its Capital Markets Recovery Package on 24 July 2020. In addition to proposals for amendments to the Prospectus Regulation and...more

Morgan Lewis

The Commodity Futures Trading Commission's Swaps Cross-border Guidance Proposal

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The Dodd-Frank Act amended the Commodity Exchange Act (the Act) to create a new regulatory framework for swaps, and added Section 2(i) to require the application of the Dodd-Frank Act swap requirements to activities that...more

Morgan Lewis

UAE Regulator Updates "Qualified Investor" Definition

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The United Arab Emirates (UAE) Securities and Commodities Authority (SCA) has issued a decision (No. 37 (R.M) of 2019), effective December 1, 2019, amending the definition of Qualified Investor in all regulations issued by...more

Robins Kaplan LLP

Financial Daily Dose 11.11.2019 | Top Story: Twitter Screed Prompts Investigation of Apple Card Gender Discrimination

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Here’s about as 2019 as we can get in the financial world (with a healthy dose of 1950s-era gender discrimination for good measure): a series of tweets from tech entrepreneur David Heinemeier Hansson alleging gender...more

Robins Kaplan LLP

Financial Daily Dose 10.11.2019 | Top Story: France’s Renault Cans CEO Over Ties to ex-Nissan Chief Carlos Ghosn

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Because the Nissan leadership scandal is about as well-contained as Chernobyl in the early days [thanks, HBO], French automaker Renault has voted this morning to remove Chief Executive Thierry Bolloré amid concerns over the...more

Dechert LLP

Financial Services Quarterly Report - Fourth Quarter 2018: Thinking of a UCITS? – Points to Consider

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With close to EUR 10 trillion in net assets,1 UCITS are an attractive proposition for managers. The UCITS brand is globally recognised and is firmly established as a product of choice for retail investors and institutions...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Markets around the world took a beating yesterday amidst concerns about steel tariffs and other rising commodity costs, an economic slowdown in China, and brewing trouble in the EU. US stocks rallied by the end of the day to...more

Morrison & Foerster LLP

The SEC’s Final Rule Regarding Price Quotes and Research Reports Relating to Security-Based Swaps

This month the Securities and Exchange Commission (“SEC”) issued a final rule (the “Final Rule”) that provides that certain communications relating to security-based swaps (either singular or plural, “SBS”) will not...more

Troutman Pepper

Treasury Report Addresses Regulatory Approaches Affecting Investment Companies and Their Advisers

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As required by President Trump’s Executive Order 13772, the U.S. Department of the Treasury issued a report, “A Financial System That Creates Economic Opportunities, Asset Management and Insurance,” addressing the regulatory...more

Cadwalader, Wickersham & Taft LLP

The Trump Administration: Change By Executive Action and Inaction

The election of Donald J. Trump as the 45th President of the United States, along with Republican control of the majority of both the House of Representatives and the Senate, will likely result in significant changes in U.S....more

Goodwin

Financial Services Weekly News - September 2016 #3

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Editor's Note - Investment Company Institute Publishes FAQ on SEC No-Action Letter Regarding Auditor Independence. On September 23, the Investment Company Institute (ICI) published a memorandum (ICI Memo) responding to...more

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