Dodd-Frank.com

CFTC: If Rule 10b-5 Works For the SEC, It Should Work For Us Too (And Maybe We’ll Win More Than One Case Every 35 Years)

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The CFTC’s new anti-manipulation and anti-fraud rules are based on the SEC’s Rule 10b-5.  One CFTC Commissioner believes the new rule will end the CFTC’s nearly unanimous 35-year losing streak in this area, while another believes the rule’s lack of clarity and vagueness will cause significant confusion in the marketplace. ... Read More

Topics: Banking, Derivatives, Energy, Executive Compensation, Litigation

CFTC Proposes Capital Requirements for Swap Dealers and Major Swap Participants

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Complementing its recently proposed rules establishing margin requirements for swap dealers (SDs) and major swap participants (MSPs), the CFTC proposed rules regarding capital requirements for these “covered swap entities” at yesterday’s open meeting. Although the Commission has not released the text of the rule yet, its announcements, fact sheet, and... Read More

Topics: Banking, Derivatives, Energy

Treasury Official Comments on Dodd-Frank Implementation

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Deputy Secretary Neal Wolin delivered remarks on the implementation of Wall Street reform legislation at the Pew Charitable Trusts. In his remarks, Wolin discussed the importance of moving forward quickly, carefully and responsibly to implement the critical protections in the Dodd-Frank Wall Street Reform and Consumer Protection Act.  Check dodd-frank.com... Read More

Topics: Banking, Broker-Dealer, Energy, Public Companies and Securities

CFTC and Bank Regulators Propose Capital & Margin Rules for Swap Dealers and Major Swap Participants

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Yesterday the CFTC and a group of “prudential regulators”[1] proposed rules regarding capital and margin requirements for uncleared swaps entered into by swap dealers (SDs) and major swap participants (MSPs) (see discussion of proposed rule on SD and MSP definitions here). The CFTC’s rules applies to non-bank SDs and MSPs,... Read More

Topics: Banking, Derivatives, Energy

CFTC Takes Early Enforcement Action Against “Spoofing” in Derivatives Markets

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Recently, the CFTC filed and simultaneously settled charges for $550,0000 against Bunge Global Markets, Inc. (“Bunge”) regarding allegations that Bunge employees had engaged in “spoofing” in the soybeans futures market.  While “spoofing” (bidding or offering with the intent to cancel such bid or offer before execution) will be explicitly illegal... Read More

Topics: Banking, Derivatives, Energy