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Commodity Broker

Allen Matkins

When Betting Crosses Regulatory Lines

Allen Matkins on

Earlier this week, Suzanne Cosgrove wrote about the Commodity Futures Trading Commission's decision to prohibit Congressional Control Contracts, which it described as "cash-settled, binary (yes/no) contracts based on the...more

Robinson+Cole Data Privacy + Security Insider

Could Data Brokering Become the New Stock Trading?

The Shanghai Data Exchange, launched in November 2021, is reportedly gearing up to go international. The announcement came from the 2022 Global Data Ecosystem Conference, held in Singapore this November. The Shanghai Data...more

Katten Muchin Rosenman LLP

Holders of DAO Governance Tokens Beware: According to the CFTC, Voting May Be Hazardous to Your Well-Being

Natural persons and legal entities are potentially jointly and severally liable for all of a decentralized autonomous organization's (DAO) violations of the Commodity Exchange Act (CEA) and Commodity Futures Trading...more

Allen Matkins

Why More Than One Commodity May Not Be Commodities

Allen Matkins on

A plural form of a noun usually implies a set having more than one member of the same type.  For example, a reference to "dogs" is understood to refer to more than one dog.  No one understands a reference to "dogs" to mean a...more

Akin Gump Strauss Hauer & Feld LLP

The Digital Commodities Consumer Protection Act – A Bullet Point Summary

Key Points - On August 3, 2022, Sens. Debbie Stabenow (D-MI) and John Boozman (R-AR)—the Chair and Ranking Member of the Senate Agriculture Committee—introduced the Digital Commodities Consumer Protection Act of 2022 (S....more

Katten Muchin Rosenman LLP

Second Circuit Rejects Probabilistic Pleading to Allege Actual Damage in Spoofing Cases

On July 20, the US Court of Appeals for the Second Circuit affirmed the dismissal of a putative class action alleging that certain market participants engaged in spoofing in violation of the Commodity Exchange Act, 7 U.S.C. §...more

Bennett Jones LLP

Commodity Markets: Immediate and Longer-Term Perspectives for Canada

Bennett Jones LLP on

The invasion of Ukraine and sanctions against Russia have disrupted global energy and other commodity markets and exacerbated tensions in global supply chains....more

A&O Shearman

Take-or-pay In Commodity Supply Contracts – Looking Beyond COVID-19

A&O Shearman on

In the previous two notes in this series we assessed first whether COVID-19 constitutes a force majeure event (FM) and secondly the impact of COVID-19 on existing commercial contracts. This third note focuses on a fundamental...more

Foley & Lardner LLP

Finally 190! Years in the Making: CFTC Proposes New Bankruptcy Rules for FCMs and DCOs

Foley & Lardner LLP on

On April 14, by unanimous vote of the Commissioners, the Commodity Futures Trading Commission (“CFTC” or “Commission”) approved a notice of proposed rulemaking to update comprehensively its Part 190 Rules governing a...more

Akin Gump Strauss Hauer & Feld LLP

NFA Inspects Hong Kong Based Investment Managers

The U.S. National Futures Association (NFA) has confirmed that it has commenced its first-ever, on-site inspection program of NFA member firms located in Hong Kong. Prior to this current initiative, the NFA’s inspections of...more

Carlton Fields

CFPB Grabs for SEC/CFTC Turf

Carlton Fields on

In May, the Consumer Financial Protection Bureau (CFPB) proposed a ban on “mandatory arbitration” contract clauses that make financial products consumers waive their right to join class actions. Broker-dealers,...more

BCLP

PROMESA Shields Puerto Rico Behind a New Automatic Stay

BCLP on

On June 30, 2016, President Obama signed the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) into law. The most significant portions of PROMESA are found in titles I and II, which establish an...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

Litigation Finance: A Brief History of a Growing Industry - Litigation costs money. Litigation finance can provide the cash a plaintiff needs to prevail in court. Plaintiffs holding valid—and potentially quite...more

Orrick - Finance 20/20

Council of EU Grants Exemptions for Commodity Dealers under CRR

Orrick - Finance 20/20 on

On March 23, 2016, the Council of the EU published an approved final compromise text of a proposed Regulation extending the Capital Requirements Regulation (Regulation 575/2013) (CRR) to extend certain exemptions for...more

Orrick - Finance 20/20

ECB Publishes Opinion on Proposed Regulation Extending Exemptions for Commodity Dealers under CRR

On March 4, the European Central Bank (“ECB”) published an opinion on the European Commission’s legislative proposal for a Regulation amending the Capital Requirements Regulation (CRR) to extend certain exemptions for...more

Skadden, Arps, Slate, Meagher & Flom LLP

"CFTC Staff Provides Foreign Intermediary Registration Relief for Foreign Customers' Uncleared Swaps"

The Division of Swap Dealer and Intermediary Oversight of the Commodity Futures Trading Commission (CFTC) has issued no-action relief from the requirement to register as an introducing broker (IB), commodity trading advisor...more

Katten Muchin Rosenman LLP

CFTC Extends Continued No-Action Relief From Certain Recordkeeping Requirements

The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight and Division of Market Oversight (collectively, Divisions) have issued CFTC Letter No. 15-65, which indefinitely extends the...more

Goodwin

Commerce Department Survey of Financial Services Transactions with Foreign Persons Due November 1, 2015

Goodwin on

The Commerce Department’s BE-180 Survey of Financial Services Transactions is a mandatory benchmark survey conducted every five years and administered by the Bureau of Economic Analysis (the “BEA”). Reports are required by...more

Orrick - Finance 20/20

CFTC Approves Final Regulation Regarding Requirement to be a Member of a Registered Futures Association

Orrick - Finance 20/20 on

On September 10, the U.S. Commodity Futures Trading Commission Division issued a final rule requiring that all registered introducing brokers and commodity pool operators, and certain commodity trading advisors become and...more

Katten Muchin Rosenman LLP

FCA Publishes New Market Watch Focusing on Commodities Traders and Market Abuse

On September 3, the Financial Conduct Authority (FCA) published issue 49 of Market Watch, its newsletter on market conduct and transaction reporting issues. In it, the FCA sets out its findings following a thematic review it...more

K&L Gates LLP

Cybersecurity Update: National Futures Association Proposes Cybersecurity Guidance Setting Forth General Requirements for Member...

K&L Gates LLP on

The National Futures Association (“NFA”) submitted to the Commodity Futures Trading Commission (“CFTC”) on August 28, 2015 a proposed Interpretive Notice (“Proposed Guidance”) for CFTC’s approval, which provides guidance to...more

Morgan Lewis

CFTC Staff Exempts Certain Commodity Trading Advisors from Form CTA-PR Reporting

Morgan Lewis on

The reporting relief applies to commodity trading advisors that do not “direct” trading of any client commodity interest trading accounts. On July 23, the CFTC’s Division of Swap Dealer and Intermediary Oversight issued...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

SEC Provides Additional Analysis Related to Proposed Pay Ratio Disclosure Rules - On June 4, the Securities and Exchange Commission provided additional analysis related to its proposed rules for pay ratio disclosure. The...more

Orrick - Finance 20/20

CFTC Staff Issues No-Action Relief from Introducing Broker and Commodity Trading Advisor Registration to Persons Located Outside...

On June 4, the Commodity Futures Trading Commission’s (“CFTC”) Division of Swap Dealer and Intermediary Oversight (“DSIO”) issued a No-Action Letter stating that it will not recommend that the CFTC take action for failure to...more

Stinson - Corporate & Securities Law Blog

CFTC Issues Final Interpretation on Forward Contracts with Embedded Volumetric Optionality

Recently, the CFTC published a final interpretation clarifying its seven-element test regarding forward contracts with embedded volumetric optionality (EVO). The final interpretation provides that a contract for deferred...more

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