EU’s Antitrust Probe Delayed Due to Banks’ Request for Business Secrets

According to Bloomberg, the EU’s antitrust probe will see delays now that the banks involved with the case have successfully fought for the ability to see the confidential information the Commission has gathered on the banks. The information is vital to fighting the antitrust complaint that was filed by...

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...

Banks and Regulators Call on ISDA to Alter Derivatives Market Operations

According to Reuters, U.S. Federal Deposit Insurance Corporation Chairman Martin Gruenberg and Bank of England Governor Mark Carney are calling on the International Swaps and Derivatives Association (ISDA) to change some of the rules behind derivative trading. This is in hopes of creating a safer market...

EU and CFTC struggle to come together over free-trade agreement

It’s been several months since the CFTC and foreign regulators agreed to begin working together to standardize derivative trading rules. However, while foreign regulators have been slow to hammer out the details of standard policing procedures, the CFTC has plowed ahead without them, attempting to...

Federal Reserve to Delay Commodity Regulation until Next Year

According to Reuters, it seems unlikely that the Federal Reserve will be detailing their plans on commodity regulation until after next month’s Senate hearing over the rigging of the aluminum market. A final decision on commodity regulation should be expected early next year. After receiving complaints...

Confusion over CFTC’s “US Person” Definition Causes Headaches Overseas

According to the Financial Times, foreign fund managers may begin to minimize their business with the US. Due to the CFTC’s new definition of what constitutes a “US person,” fund managers in Europe and Asia who have a principal base of business within the US will now have to conform to the CFTC’s new...

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 Chairman Gensler Continues to Refuse to Delay Deadlines, Despite Further Pushback

According to The Financial Times, Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler is refusing to budge on the deadline for the next phase of trading rules. The next set of rules, which will require the reporting of transactions with offshore entities, will go into effect on October 9th....

CFTC allows for a few delays in swap trade initiatives

According to Reuters, the Commodity Futures Trading Commission (CFTC), who has by and large refused to budge on its October 2nd deadline for SEF’s to implement its new rules, will allow for a delay in a few of its initiatives. In an effort to increase transparency and minimize the risk associated with the...

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...
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