Treasury Bond Rule will be Costly for Clearinghouses

According to Businessweek, the Commodity Futures Trading Commission will be voting today on a new rule that will result in Treasury collateral being subject to a “prearranged and highly reliable funding arrangement.” Should the rule be passed, clearinghouses will be forced to back Treasury bonds with...

US Options Exchange Leaders Close to Reaching Erroneous Trade Rule Agreement

According to The Wall Street Journal, US Options Exchange leaders have stated that they are close to instituting universal rules for erroneous trades. While they mentioned that there are still a few discrepancies between the 12 U.S. options exchanges, exchange leaders stated at the Futures Industry...

CFTC Chairman refuses to budge on Cross Border SEF Regulation

According to IFR, CFTC Chairman Gary Gensler reiterated his stance on cross border SEF regulation during a keynote address at the Futures Industry Association’s 2013 Expo in Chicago. There has been an outpouring of international debate over cross border SEF regulation since the implementation of SEFs in...

House Passes Bill to Weaken Dodd-Frank Act

According to Bloomberg, an amendment to the Dodd-Frank Act was passed on Wednesday that would limit the extent to which the rule would affect large banks. The bill would essentially remove the “swaps push out” aspect of the rule, which forces banks to move their derivatives activity to affiliates that...

The SEC CEO Payment-Ratio Rule comes under heavy scrutiny

According to Bloomberglaw.com, the Securities Exchange Commission (SEC) implemented an interesting new rule in September that requires public companies to disclose the ratio of their CEO pay to median worker compensation. And many seem less than pleased about it. With this new rule, all public companies will...

Government Shutdown Creates Communication Gap between The CFTC and the European Commission

According to bankingtech.com, senior financial industry executives are less than pleased with the US and EU’s inability to work together on the implementation of derivatives reforms and swap execution facilities. While the Dodd-Frank Act was instituted by the US government to help create transparency in...

CFTC Will Deal Steep Penalties to Anyone Found Lying in Investigations

According to Dodd-Frank.com, the Commodity Futures Trading Commission (CFTC) will not hesitate to penalize anyone found lying in an investigation. The CFTC made this very clear during a recent investigation into pre-stamping with an introducing broker. When a commodity futures or options order is being...

Division of Enforcement Director to step down in October

According to CFTV.gov, the Commodity Futures Trading Commission has stated that the current Division of Enforcement Director, David Meister, will be stepping down from his position in October. A graduate of the Columbia University School of Law, David Meister was quite prolific during his time as Director,...

Gensler’s assessment of the CFTC: A Summary

Chairman of the Commodity Futures Trading Commission (CFTC) Gary Gensler seemed to be overall satisfied with the CFTC’s current progress and future plans as he spoke in front of the International Group of Treasury Associations and the U.S. Chamber of Commerce recently. Beginning his speech, Chairman...

CFTC grants temporary registration to SwapEx, LLC, GFI Swaps Exchange LLC, and MarketAxess SEF Corporation

The U.S. Commodity Futures Trading Commission (CFTC) has approved the applications of SwapEx LLC, GFI Swaps Exchange LLC, and MarketAxess SEF Corporation for temporary registration as swap execution facilities (SEFs) pursuant to section 5h of the Commodity Exchange Act and section 37.3(c) of the...
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