Sommers Criticizes CFTC’s Approach to Dodd-Frank Rule Implementation

Outgoing CFTC commissioner Jill Sommers has publicly expressed frustration at the CFTC’s imposed provisions on derivatives market participants, as reported in an exclusive interview with Energy Risk. Sommers is responding to the complex Dodd-Frank stipulations demanded of derivatives market...

CFTC’s Gensler has Options as Republican Resigns from Commission

U.S. Commodity Futures Trading Commission (CFTC) commissioner Jill Sommers resigned from her post today. Sommers leaves the position with more than a year left on her term. She was nominated to the commission by George W. Bush (2007) and renominated by Barack Obama. CFTC’s Sommers on Resigning Sommers,...

Will the CFTC, SEC Follow Europe with a Transaction Tax?

Now that eleven euro zone countries have approved a financial transaction tax, will U.S. regulators at the U.S. Commodity Futures Trading Commissino (CFTC) and the Securities Exchange Commission (SEC) follow suit? Ironically, though the idea of a financial transaction tax was first proposed by American...

CFTC Unveils Real-Time Reporting of Swap Transactions and More

The U.S. Commodity Futures Trading Commission (CFTC) today issued a statement announcing real-time public reporting for swap transactions and swap dealer registration. From the CFTC Chairman Gary Gensler: “Two of the most significant Dodd-Frank reforms began implementation this week. Real-time reporting...

CFTC-SEC Merger Update: Transaction Tax, ICE-NYSE

Could the U.S. Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) ever merge? The prevailing logic is no: the appropriations committees in Congress would never relinquish their turf. Yet the recent merger between InterContinental Exchange (ICE) out of Atlanta and...

CFTC Position Limits Update: GOP Taps Hensarling, Won’t Change Tune

The U.S. Commodity and Futures Trading Commission (CFTC) will likely be at odds with new GOP Financial Services Committee head, Jeb Hensarling. Hensarling previously served as committee Vice Chairman under Spencer Bachus, who stepped down after reaching the maximum term limit for committee...

Volcker Rule Update: Chilton, Glass-Steagall, Living Wills, and More

The Volcker Rule is a function of the Dodd-Frank Act that limits proprietary trading by banks that hold consumer deposits. The rule is controversial, to say the least, but it has yet to go into effect. U.S. Commodity Futures Trading Commission member Bart Chilton is now saying that the implementation of the...

CFTC Fights Back, Votes 3-2 to Appeal Position Limits Ruling

The Commodity Futures Trading Commission (CFTC) will move forward with an appeal of a federal court’s decision against position limits.  The Commission approved the appeal on a 3-2 vote. The position limits rule puts a limitation on the number of speculative positions one can hold on a given...

CFTC Shines Light on Swaps Market with ‘Swaps Report’

The U.S. Commodity Futures Trading Commission (CFTC) on Wednesday issued for public comment a new “CFTC Swaps Report” that tries to pry the lid off the “dark swaps market.” The CFTC Swaps report aims at market transparency. An draft of what the report, what it will look like, along...

CFTC Sues Ex-Goldman Sachs Trader; Gets Sued by CME Group

The U.S. Commodity and Futures Trading Commission (CFTC) brought charges on Thursday against an ex-Goldman Sachs trader who they allege defrauded the bank of almost $120 million. The suit claims the former Goldman trader manually invented fake trades. The CFTC’s case claims that Matthew Marshall Taylor...