Peregrine Customers Get Partial Payout

Judge Carol Doyle of Chicago approved the return of $123 million dollars to customers of Peregrine Financial Group on Thursday. This amounts to 30 to 40 percent of initial customer investment held by the discredited firm. The CFTC was initially concerned about the trustees plan due to lingering questions...

Lobby Urges CFTC to Delay New Swap Rules

The Commodity Markets Council, a Washington-based lobbying firm that represents agricultural and energy companies, has urged the CFTC to delay Dodd-Frank regulations on swap dealers from taking effect next month. Members of the CMC, including Kraft Foods and Rand Financial Services, Inc., want to extend the...

CME Awaits CFTC Approval for New Futures Contracts

CME Group, one of the biggest U.S. clearers of interest rate swaps, will offer new futures contracts starting November 13, pending clearance from the Commodity Futures Trading Commission. The plan to offer the new futures contracts comes on the heels of regulation that aims to bring more of the OTC swaps...

Wetjen Expresses Extraterritoriality Guidance Concerns

While warning of  the danger of swaps-trading risks taken abroad damaging U.S. economy, CFTC Commissioner Mark Wetjen noted that he is not fully satisfied with extraterritoriality rules as currently proposed during a speech at ISDA’s Annual North American Conference. “I continue to have concerns about...

Regulators Target Non-Bank Companies

Regulators are poised to target non-bank firms that are deemed to be potential risks to the U.S. financial system. After the nearly $182.3 billion bailout of AIG, regulators want to impose more rigorous regulations on firms posing a potential risk to the U.S. financial system.  Potential firms targeted by...

CFTC Cancels Customer Fund Protection Vote

The CFTC has cancelled an open meeting scheduled for Wednesday, September 12, after Commission Chairman Gary Gensler injured himself over the weekend. The meeting had been called to publicly vote on new rules intended to safeguard customer funds held by futures commission merchants (FCMs), confidence in whom...

Bill Aims to Increase White House Oversight of Financial Regulators

Lawmakers are pushing a bill that would greatly weaken the autonomy and influence of regulators such as the Commodity Futures Trading Commission and the Securities and Exchange Commission.  The bill, which is set to go before a Senate committee later this month, would allow the president to second guess...

Swap Dealers Extension Fails to Allay Some Concerns

Despite a CFTC announcement that firms will not be required to register as swap dealers until January 1, other new rules governing information collection and disclosure may leave some of their clients temporarily unable to trade after that date. Intended to make the OTC swaps market more transparent, the new...

CFTC to Clarify Swap Dealer Registration Deadline

The Commodity Futures Trading Commission is expected to clear up confusion over the compliance date for a new swap dealer registration rule by telling affected firms that they have until January 1 to comply, CFTC spokesman Steve Adamske said yesterday. The rule, which will be effective as of October 12,...

Ambiguous Disclosure Rules Worry SEFs

With the deadline for mandatory execution of most OTC swaps through swap execution facilities (SEFs) months away, operators of the would-be trading platforms are struggling to understand rules governing the disclosure of information to a customer before a trade is concluded. The rules, effective January 1,...
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