News & Analysis as of

Regulatory Requirements Commodity Exchange Act (CEA)

Jones Day

CFTC Divisions Interpret "U.S. Person" Definition and U.S. Location Versus Foreign Location

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A 2024 CFTC enforcement action settlement that may have introduced a new test for when the Commodity Exchange Act and the agency's regulations apply on a cross-border basis concerned then-CFTC Commissioner and now Acting CFTC...more

Skadden, Arps, Slate, Meagher & Flom LLP

House Bill on Digital Asset Market Structure Would Significantly Change SEC’s Jurisdiction

On May 5, 2025, several House committees jointly released a discussion draft of a bill to establish a regulatory framework for digital assets. Notably, this proposed Act would clarify the jurisdictional boundaries between the...more

A&O Shearman

CFTC Releases Guidance On Registered Non-U.S. Swap Entities Using Substituted Compliance

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On May 20, 2025, two divisions within the Commodity Futures Trading Commission (“CFTC”) — the Market Participants Division (“MPD”) and the Enforcement Division (“DOE”) — released procedures providing guidance on how the...more

Morgan Lewis

CFTC Staff Issue Advisory on Criteria for Referrals to the Division of Enforcement

Morgan Lewis on

The staff of the US Commodity Futures Trading Commission (CFTC or Commission) on April 17, 2025 issued an advisory outlining the criteria the agency’s Market Participants Division, Division of Clearing and Risk, and Division...more

BakerHostetler

The CFTC Announces a New System To Incentivize Self-Reporting, Cooperation, and Remediation

BakerHostetler on

On February 25, 2025, the CFTC released an Enforcement Advisory on Self-Reporting, Cooperation, and Remediation, introducing metrics the Division will use to evaluate a company’s or individual’s conduct before and leading up...more

Mintz

Back to the Future: CFTC Emphasizes Existing Regulatory Standards for New Al Technologies

Mintz on

Advancements in artificial intelligence (AI) continue to reshape the financial services industry, with the growing popularity of generative Al (GenAl) tools prompting increased attention from US regulators. At the end of...more

Moore & Van Allen PLLC

CFTC Advisory On The Use of Artificial Intelligence: Buzzword or Bogeyman?

Moore & Van Allen PLLC on

Artificial Intelligence (“AI”) is everywhere you look right now. AI is a lot of things, but for most of the market it is simultaneously a buzzword for innovation and efficiency, and a bogeyman for fraud and privacy concerns....more

Cadwalader, Wickersham & Taft LLP

IOSCO’s Proposed Guidance on Pre-Hedging Practices

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

A&O Shearman

The Commodity Futures Trading Commission Files Its First Actions For Fraud In The Voluntary Carbon Credit Market

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On October 2, 2024, the Commodity Futures Trading Commission (“CFTC”) filed a complaint in the U.S. District Court for the Southern District of New York against the former chief executive officer of a carbon credit project...more

A&O Shearman

CFTC announces final guidance regarding voluntary carbon credit derivative contracts

A&O Shearman on

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

Skadden, Arps, Slate, Meagher & Flom LLP

Fifth Circuit Reverses CFTC Penalty Judgment Under ‘Fair Notice’ Doctrine

On January 8, 2024, in a decision that underscores the potential viability of fair-notice defenses to U.S. regulators’ rule interpretations, the U.S. Court of Appeals for the Fifth Circuit reversed a $6.5 million penalty...more

Proskauer - Blockchain and the Law

CFTC Issues Cease and Desist Order to Binary Options Operator Using Smart Contracts

On January 3, 2022, the Commodity Futures Trading Commission (the “CFTC”) entered an order charging Blockratize, Inc. (d/b/a Polymarket.com) (“Polymarket”) with offering off-exchange binary options contracts and failing to...more

Katten Muchin Rosenman LLP

Bridging the Weeks - July 2019

A trading firm agreed to settle charges brought both by the Commodity Futures Trading Commission and the Chicago Board of Trade that trading activities it engaged in during pre-opening market periods constituted wash sales....more

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