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CFTC Extends Exemptions of RTO Energy Products to Bar Private Rights of Action

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The CFTC quelled a controversy that had emerged regarding its proposed exemption of certain specified energy products transacted in Regional Transmission Organizations (RTO) by doing a “180” on its proposals that otherwise would have made the general anti-fraud, anti-manipulation, and scienter-based prohibitions that still apply to such transactions under the... Read More

Topics: Derivatives, Energy

CFTC Extends Swap Dealer De Minimis Phase-In Period

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As has been rumored in recent weeks, the CFTC has adopted an order establishing December 31, 2018 as the swap dealer registration de minimis threshold phase-in termination date. With this approval, the de minimis threshold will remain at $8 billion until December 31, 2018 instead of changing to $3 billion... Read More

Topics: Derivatives

CFTC Proposes to Amend Whistleblower Rules to Provide Anti-Retaliation Enforcement Authority

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The CFTC has proposed amendments to its whistleblower rules that reinterpret its anti-retaliation authority and proposes appropriate rule amendments to implement that authority. When the CFTC initially adopted its whistleblower rules, the CFTC was asked to clarify its enforcement authority over retaliation against whistleblowers. Citing the private right of action... Read More

Topics: Derivatives, Employment, Litigation

CFTC Supplemental Proposal Would Authorize Exchanges to Administer More Flexible Approach to Bona Fide Hedge Exemption to Position Limits

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The CFTC has published a proposed supplement to its December 2013 proposed rule on position limits* that would, among other things, authorize designated contract markets and swap execution facilities (“exchanges”) to administer a more flexible approach to the bona fide hedge (“BFH”) exemption from position limits, allowing such exchanges to... Read More

Topics: Derivatives, Energy

CFTC Proposes Guidance Clarifying that Certain Electric Capacity and Natural Gas Peaking Contracts are not “Swaps”

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The CFTC has proposed guidance that certain capacity contracts in electric power markets and certain natural gas peaking supply contracts should not be considered “swaps” under the Commodity Exchange Act. The guidance does not provide a precise definition of the excluded contracts but identifies their common characteristics as follows: “[T]he... Read More

Topics: Derivatives, Energy