Confirmations: NFA and CME’s Financial Match.com
Confirmations: Plugging Into Electronic Confirmations
CFTC Proposal Poses “Monumental” Challenge to FCMs
Daily Reports: Tell Us Where The Money Is
Customer Protection Fund: Slip it to SIPC
Customer Segregation: Keep It Separate
Cole-Frieman & Mallon partner/co-founder Bart Mallon Discusses CFTC Regulation 4.5, the Volcker Rule & Other Compliance Issues
Derivatives Attorney Jim Falvey Discusses the MF Global bankruptcy, the Volcker Rule & Compliance Issues Related to Dodd-Frank
On April 21, 2025, Commodity Futures Trading Commission (“CFTC”) staff issued two Requests for Comment (“RFCs”) aimed at gathering public input on emerging areas of interest in the derivatives markets....more
US President Donald Trump’s executive order directing executive departments and agencies to initiate a regulatory freeze for certain rules that have not taken effect, pending review by the newly appointed agency head, may...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
At the heart of the statutory and regulatory framework governing transactions in derivatives in the United States is a customer asset protection regime that requires futures commission merchants (FCM) and derivatives clearing...more
The 2024 US elections may signal a shift in the policy orientation of other federal financial regulators, but at the Commodity Futures Trading Commission (CFTC or Commission), at least in the short-term, the most significant...more
The Joint Audit Committee has published guidance (Guidance) with respect to the appropriate account documentation required for futures commission merchants (FCMs) to substantiate a grant of discretionary trading authority for...more
FRS's Annual Examination of CME Clearing Members and CME Rule 930.K - The back-office operations, finance and compliance teams of the futures commission merchant (FCM) clearing members of the CME Clearing House mark their...more
Payments Firms Launch Crypto Products, New Crypto Adoption Data Published - According to a recent press release, a well-known U.S. payments and financial technology company announced that it will allow its United States...more
Part 17 of the CFTC’s regulations require futures commission merchants, clearing members of registered derivatives clearing organizations, and foreign brokers holding omnibus accounts with such FCM clearing members to submit...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
Last week, the United States Attorney’s Office for the Southern District of New York unsealed an indictment against global cryptocurrency exchange KuCoin and two of its founders, Chun Gan and Ke Tang, for allegedly conspiring...more
This post is the final installment of our multi-part series on CFTC Regulation §1.44, as proposed by the U.S. Commodity Futures Trading Commission (the “CFTC”) on February 20, 2024 (the “Proposed Rule”)....more
This post is the next installment of multi-part series on CFTC Regulation §1.44, as proposed by the U.S. Commodity Futures Trading Commission (the “CFTC”) on February 20, 2024 (the “Proposed Rule”)....more
This post is the next installment of a multi-part series on CFTC Regulation §1.44, as proposed by the U.S. Commodity Futures Trading Commission (the “CFTC”) on February 20, 2024 (the “Proposed Rule”)....more
This post is the next in our multi-part series on CFTC Regulation §1.44, as proposed by the U.S. Commodity Futures Trading Commission (the “CFTC”) on February 20, 2024 (the “Proposed Rule”)....more
This post is an overview of the “one business day margin call requirement” that applies to separate account customers under CFTC Regulation §1.44, as proposed by the U.S. Commodity Futures Trading Commission (the “CFTC”) on...more
This post is the next installment in a multi-part series on CFTC Regulation §1.44, as proposed by the U.S. Commodity Futures Trading Commission (the “CFTC”) on February 20, 2024 (the “Proposed Rule”)....more
This post continues our multi-part series on proposed CFTC Regulation §1.44 (the “Proposed Rule”). If adopted, the Proposed Rule will require every futures commission merchant (“FCM”) to ensure that a customer does not...more
The previous post in this series discussed how different market participants hold different views of the relationship between an investment manager and its clients, particularly in the separate account context. That post...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
This is the third of a multi-part series (Introduction; Part 1) on a February 20 proposal by the U.S. Commodity Futures Trading Commission (“CFTC”) to implement CFTC Regulation §1.44 (the “Proposed Rule”) and related...more
This is the second of a multi-part series on a February 20 rule proposal by the U.S. Commodity Futures Trading Commission (“CFTC”) to...more
At an industry event in early 2023, Commodity Futures Trading Commission (CFTC or the Commission) Chairman Rostin Behnam set out a comprehensive agenda to include nearly three dozen rulemaking proposals as well as “business...more
On December 13, 2023, the Securities and Exchange Commission (SEC) voted (4-1) to adopt new requirements under the Securities Exchange Act of 1934 (Exchange Act), which will restructure the clearance and settlement of...more