CFTC Provides Foreign Exchange Prime Brokers Relief

The Commodity Futures Trading Commission (CFTC) gave last-minute relief to Foreign Exchange prime brokers after listening to complaints that the market could be threatened by new business conduct rules. According to Risk.net, the CFTC exempted the prime brokers from certain external business conduct rules...

DTCC Sues CFTC over “Anti-Competitive Swap Trading Data Rules”

The Depository Trust & Clearing Corp. (DTCC) sued the Commodity Futures Trading Commission (CFTC) on Friday claiming that the derivatives regulator made “anti-competitive rules,” regarding swap trading data, that favor two rival companies. The lawsuit filed by the DTCC, a financial services group...

Banks Oppose CFTC Proposal for Strict Controls of Overseas Derivatives

Wall street bankers and some of the top finance ministers in the world are engaged in an intense battle with the Commodity Futures Trading Commission, as they attempt to stop the agency from extending their regulatory powers abroad. The bankers and ministers are attempting to block a CFTC proposal, aimed to...

Bart Chilton to Propose Derivative Transaction Fee

Bart Chilton, Commissioner of the Commodity Futures Trading Commission (CFTC), plans to propose a transaction fee for derivative markets to help fund his agency and tighten regulation. The idea of a transaction fee has been tossed around for many years, but it has never really gained any steam. Chilton, one...

CFTC to Address Problems of Dealing with Evolving Technology Sphere

Despite the fact that The Commodity Futures Trading Commission (CFTC) has spent years working on plans to adapt to the technological revolution that is changing the investing sphere, the disconnect between the agency and technology was made evident after last week’s fake Associated Press (AP) tweet. The...

SEC to Propose Cross-Border Rules for Security Swaps

U.S. regulators intend to submit a proposal next week that will outline how new rules governing over-the-counter derivatives will affect cross-border transactions. Reuters reports that the Securities and Exchange Commission (SEC) announced that it will vote on the plan Wednesday. In addition, the SEC is...

EU Swaps-Clearing Clash

European Union (EU) delegates are unable to settle a dispute between Germany and the U.K. regarding derivatives-clearing competition, requiring the discussion to begin again on draft legislation. Ireland, which holds the EU’s rotating presidency, is looking to find middle ground on the initiative,...

CFTC Charges Accounting Firm Tunney & Associates

The CFTC  has filed a complaint against Tunney & Associates, an accounting firm with offices in Indiana and Illinois, for failing to properly audit a registered Futures Commission Merchant. Michael Tunney, the firm’s sole owner and a certified public accountant, allegedly violated CFTC Regulations...

Swaps Clearing Deadline Nears

Swaps clearing deadline nears, as close to 250 to 300 U.S. investment managers are required to begin clearing swaps transactions by June 10th. According to Reuters, asset managers have been slow to create accounts with clearing houses for OTC derivatives, ahead of the mandatory deadline. This has led to an...

SEC Proposes New Exchange Tests to Prevent Tech Breakdowns

The Securities and Exchange Commission (SEC) is striving to limit and prevent technology breakdowns at at venues handling stock, options and bond trades, by proposing a new rule to prevent malfunctions that could harm markets. Bloomberg reports that for the first time, U.S. exchanges and brokers will be...