Dodd-Frank Derivatives
CFTC Eliminates Key Exemption From Registration as a Commodity Pool Operator
Derivatives, Investment Advisers The CFTC has eliminated the exemption from registration as a commodity pool operator, or CPO, set forth in CFTC Rule 4.13(a)(4). The Rule provided an exemption from CPO registration for the operators of commodity pools with sophisticated investors. As a result, some hedge fund advisors may be required to register as a CPO. The CFTC [...] Read more →
Plaintiffs Challenging CFTC Position Limits Dealt Set Back
Derivatives, Litigation As we noted, the International Swaps and Derivatives Association, Inc., or ISDA, and the Securities Industry and Financial Markets Association, or SIFMA, filed a legal challenge... Read more →
CFTC Approves Final Rules Regarding Business Conduct Standards for Swap Dealers and Major Swap Participants
Banking, Derivatives, Energy The CFTC has approved its final rules regarding business conduct standards for swap dealers (“SDs”) and major swap participants (“MSPs”), which governs their dealings with... Read more →
CFTC Approves Final Regulations Regarding Registration of Swap Dealers and Major Swap Participants
Banking, Derivatives, Energy The CFTC has approved final regulations establishing a registration process for swap dealers (“SDs”) and major swap participants (“MSPs”), although the rule defining the... Read more →
CFTC Volker Rule Proposal is a Rube Goldberg Contraption
Banking, Derivatives The Commodity Futures Trading Commission, or CFTC, has proposed rules implementing the so-called “Volcker Rule” requirements of Section 619 of the Dodd-Frank Wall Street... Read more →
CFTC Issues Final Rule on Real-Time Swap Price Reporting
Banking, Derivatives, Energy The CFTC has approved its final rule on real-time reporting of swaps. This rule is intended to provide swap transaction and pricing data to the public on a real-time basis so as... Read more →
CFTC Issues Final Rule on Swap Data Recordkeeping & Reporting
Banking, Derivatives, Energy The CFTC has approved its final rule on swap data recordkeeping and reporting, summarized below. RECORDKEEPING All persons transacting in swaps (as well as exchanges and clearing... Read more →
FSOC Holds Executive Sessions to Discuss MF Global and Europe
Banking, Derivatives The Financial Stability Oversight Council, established pursuant to the Dodd-Frank Act, has recently held executive sessions to discuss a couple of high profile topics: On October... Read more →
CFTC Approves Final Rules on Customer Funds
Derivatives The CFTC has approved a final rule on investment of customer funds in the wake of the MF Global bankruptcy. Interestingly, the CFTC repeatedly cites the MF Global comment letter... Read more →
Comparing the CFTC Position Limits Litigation with the SEC Proxy Access Litigation
Derivatives The International Swaps and Derivatives Association, Inc., or ISDA, and the Securities Industry and Financial Markets Association, or SIFMA, have filed a legal challenge to the... Read more →