JONES DAY TALKS®: Derivatives Market Volatility Brings New Concerns and More Regulatory Scrutiny
JONES DAY TALKS®: Carbon Markets are Booming, and Regulators are Watching
JONES DAY TALKS®: Energy Derivatives and Regulatory Enforcement by the CFTC and FERC
JONES DAY TALKS®: CFTC and DOJ Target Derivatives Trading Across Industries
WORD OF THE DAY® for Hedge Funds – Derivative
Cross-Border Regulation of Swaps Update from ISDA's Robert Pickel (Part 1)
A Look at Forensic Accounting and Financial Fraud
Regulation 2013: Dodd-Frank Position Limits, CFTC Reuthorization, Regulatory Harmonization
In the post-pandemic world, several trends are developing that will fundamentally change the way financial market participants manage commercial risk or trade traditional and rapidly evolving novel assets, while new classes...more
Prediction market platform Kalshi has secured a preliminary injunction against the New Jersey Division of Gaming Enforcement (the Division), preventing the state from enforcing a cease-and-desist order that aimed to halt...more
On Jan. 17, 2025, the United States Court of Appeals for the District of Columbia (D.C. Circuit) heard oral argument in KalshiEx v. CFTC. At issue is KalshiEx LLC’s (Kalshi) ability to list political event contracts for...more
The Commodity Futures Trading Commission recently published a final rule amending the list of permissible investments for customer funds by futures commission merchants and derivatives clearing organizations....more
Although Congress has neither formulated a regulatory framework for the digital asset industry nor anointed a federal regulatory agency as the de facto overseer of digital asset-related activities affecting interstate...more
As AI use proliferates, the advisory reminds CFTC-regulated entities of their existing obligations and the CFTC’s intention to monitor for ongoing risks. On December 5, 2024, the staff of the Commodity Futures Trading...more
With appropriate safeguards, distributed ledger technology may expand the use of non-cash assets as derivatives collateral, while mitigating certain market infrastructure inefficiencies....more
The US Commodity Futures Trading Commission (CFTC) issued a nonbinding staff advisory, CFT Letter No. 24-17, to all CFTC-registered entities and registrants concerning the use of artificial intelligence (AI) in CFTC-regulated...more
On November 21, 2024, International Organization of Securities Commissions (“IOSCO”) published a consultation report (the “Report”) to provide guidance on acceptable pre-hedging practices and soliciting feedback from market...more
On September 20, 2024, the U.S. Commodity Futures Trading Commission (“CFTC”) announced that it had approved final guidance (the “Final Guidance”) for designated contract markets (“DCMs”) that list voluntary carbon credit...more
Introduction Designated contract markets (DCMs) and participants in voluntary carbon markets would do well to evaluate new guidance from the Commodity Futures Trading Commission (CFTC) aimed at preventing manipulation of...more
Key Takeaways: •In the last 3 months, the Commodity Futures Exchange Commission (CFTC) has issued 3 orders against firms violating positions limits, totaling $2.3 million in fines. •CFTC position limit rules apply not...more
After five years of consultations, public meetings and roundtable discussions, the Commodity Futures Trading Commission (CFTC or Commission) has issued final regulatory guidance (Final Guidance) for exchanges, which list...more
The Commodity Futures Trading Commission on September 20 issued final guidance aimed at strengthening market integrity, transparency, and liquidity for derivatives with underlying voluntary carbon credits (VCCs). The...more
On September 20, 2024, in a 4-1 vote, the Commodity Futures Trading Commission (“CFTC” or “Commission”) approved final guidance for derivatives exchanges concerning the listing of voluntary carbon credit (“VCC”) derivative...more
Kalshi is a CFTC registered exchange that allows for the placing of cash bets on a variety of real-world events. Specifically, through what it calls “event contracts,” Kalshi allows users to buy positions on whether an event...more
On July 31, 2024, nine Democratic lawmakers from the House and Senate wrote a letter to the Commodity Futures Trading Commission’s (“CFTC”) Chairman in support of the proposed guidance regarding the listing of voluntary...more
Are there differences in the way in which derivatives and insurance contracts are regulated? Yes. Weather derivatives and insurance contracts are subject to totally different regulatory regimes. Derivatives are subject to the...more
Editor's Note The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically...more
The Commodity Futures Trading Commission (CFTC) has issued a request for comment (RFC) seeking public input on the use of artificial intelligence (AI) in CFTC-regulated markets. The RFC – distributed jointly by the CFTC's...more
Emphasizing its broad authority over fraud solely in connection with commodities – not just fraud in connection with derivatives referencing commodities – the Commodity Futures Trading Commission settled an enforcement action...more
On December 4, 2023 the CFTC issued proposed guidance regarding the listing of voluntary carbon credit ("VCC") derivative contracts ("Proposed Guidance"). The Proposed Guidance outlines factors that designated contract...more
The Commodity Futures Trading Commission (CFTC) issued proposed guidance on December 4 intended to increase the transparency and bolster the integrity of voluntary carbon credits that underlie derivative contracts subject to...more
After two years of examining carbon markets, the Commodity Futures Trading Commission (CFTC) proposed measures focused on improving integrity, transparency and enforcement in voluntary carbon credit markets (VCCMs). VCCMs are...more
The Commodity Futures Trading Commission (CFTC) has proposed to lessen a blanket restriction on the investment of customer funds in all non-United States sovereign debt instruments that was imposed on future commission...more