The Federal U.S. District Court for the Northern District of Illinois entered an Order granting summary judgement for the U.S. Commodity Futures Trading Commission on July 1, 2024 and ordered $83 million in restitution and...more
On April 30, 2024 the Commodity Futures Trading Commission (“CFTC” or the “Commission”) finalized amendments to its rules governing reporting requirements for large trader futures and options positions, the latest in a series...more
Sometimes a small footnote (which technically is not even a part of the official Federal rule) may have an outsize impact on the rule itself. In 2013, subsequent to the enactment of the Dodd Frank Act of 2010, the Commodity...more
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
4/8/2024
/ BSA/AML ,
CFTC ,
Commodities ,
Commodity Exchange Act (CEA) ,
Crypto Exchanges ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Financial Services Industry ,
Futures Commission Merchants (FCMs) ,
Popular ,
Statutory Violations ,
Trading Platforms
On Friday, March 15, 2024, Commodity Futures Trading Commission (“CFTC”) Market Risk Advisory Committee (“MRAC”) convened two roundtables in Washington DC....more
On January 25, 2024, the Commodity Futures Trading Commission (“CFTC”) published, first, Release No. 8854-24, a customer advisory cautioning the public to beware of artificial intelligence (“AI”) scams (the “AI Advisory”),...more
2/13/2024
/ Artificial Intelligence ,
CFTC ,
Comment Period ,
Commodities ,
Commodities Traders ,
Commodity Sale Agreements ,
Decentralized Autonomous Organization (DAO) ,
Derivatives ,
Innovative Technology ,
Investment ,
Investment Management
On December 14, 2023, the Commodity Futures Trading Commission (“CFTC”) and Department of Justice (“DOJ”) Fraud Section announced the settlement of insider trading fraud charges and Foreign Corrupt Practices Act (“FCPA”)...more
During 2023 the Commodity Futures Trading Commission (CFTC) engaged in several regulatory actions aimed at further clarifying its jurisdictional reach over environmental commodity markets generally and the voluntary carbon...more
On November 3, 2023, the Commodity Futures Trading Commission (“CFTC”) proposed to significantly amend the rules on investment of customer funds by futures commission merchants (“FCMs”) and derivatives clearing organizations...more
11/14/2023
/ CFTC ,
Comment Period ,
Commodity Exchange Act (CEA) ,
Customer Funds ,
Derivatives Clearing Organizations ,
Futures Commission Merchants (FCMs) ,
Investment ,
Proposed Rules ,
Public Comment ,
Regulatory Agenda ,
Regulatory Reform ,
Swaps
In August 2023, the Australian Department of Climate Change, Energy, the Environment and Water (DCCEEW) solicited feedback on proposed amendments to the Australian Carbon Credit Unit (ACCU) Scheme. This is the third step in...more
On October 2, 2023, the Commodity Futures Trading Commission (the “Commission” or “CFTC”) published a notice of proposed rulemaking (the “Proposed Rule”) to amend CFTC Regulation 4.7, which provides exemptions to registered...more
On September 19, 2023, the jurisdictional boundaries between the regulation of swaps by the Commodity Futures Trading Commission (the “CFTC”) and the regulation of security-based swaps (“SBSs”) by the Securities and Exchange...more
On September 22, 2023, the Commodity Futures Trading Commission’s (the “CFTC” or the “Commission") Division of Market Oversight extended its no-action position regarding certain large trader reporting (“LTR”) obligations for...more
On September 22, the U.S. Commodity Futures Trading Commission (the “CFTC” or the “Commission”) issued an order disapproving the listing and trading of congressional control event contracts by KalshiEX, LLC (the “Kalshi...more
The CFTC has announced three enforcement actions this month that further cement the CFTC’s jurisdiction over the decentralized finance space (“DeFi”). Back in 2022, the CFTC filed its first DeFi cases, including the...more
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
On July 28, 2023, in Cboe Futures Exchange, LLC v. Securities and Exchange Commission, the United States Court of Appeals for the District of Columbia (the “Court”) issued an order vacating an exemptive order granted by the...more
The Whistleblower Office of the Division of Enforcement of the Commodity Futures Trading Commission (CFTC) issued an alert on June 20, 2023 advising the public on how to identify and report potential violations connected to...more
Earlier this week, Moody’s Investor Services downgraded the credit ratings of 10 regional banks and put 17 other banks under review or gave their rating a negative outlook. Notwithstanding the downgrades, most of the...more
On July 12, Senator Kirsten Gillibrand, a Democratic senator from New York who sits on the Senate Banking Committee, and Senator Cynthia Lummis, a Republican senator from Wyoming who sits on the Agriculture Committee, joined...more
8/2/2023
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CFTC ,
Cryptocurrency ,
Digital Assets ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinCEN ,
FinTech ,
Investment ,
Legislative Agendas ,
Office of Foreign Assets Control (OFAC) ,
Proposed Legislation ,
Regulatory Agenda ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC)
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
7/25/2023
/ Business Strategies ,
Carbon Emissions ,
CFTC ,
Climate Action Plan ,
Climate Change ,
Commodities ,
Financial Services Industry ,
Greenhouse Gas Emissions ,
JPMorgan Chase ,
Net Zero ,
White Papers
On June 20, following a number of consultative papers, reports, committee hearings and public speeches by representatives of the Commodity Futures Trading Commission (“CFTC”), the staff of CFTC’s Division of Enforcement...more
The Commodity Futures Trading Commission (the “Commission” or the ”CFTC”), on May 31, 2023 published an Advance Notice of Proposed Rulemaking (“ANPRM”), seeking public comment in connection with potential amendments to 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 17, the staff of Commodity Futures Trading Commission (“CFTC”) Division of Clearing and Risk (“DCR”) issued an advisory (“Advisory”) that encourages entities using prime brokerage (“PB”) arrangements that provide...more