CFTC Expands Interest Rate Swap Clearing Requirements

One of the major goals of the Dodd-Frank Act, enacted in the wake of the financial crisis of 2008, was to bring the swaps market under regulation generally and to require that standardized swaps be cleared by a central counterparty (a derivatives clearing organization (“DCO”) under the U.S. Commodity Exchange Act (“CEA”)).  On September 28, […]

CFTC regulator says open to narrowing automatic trading rule

WASHINGTON (Reuters) – Timothy Massad, the chair of the Commodities and Futures Trading Commission, on Monday said he was willing to narrow a proposal that would govern automated trading. Massad said he stands behind the idea of adding regulations on automated trading but that some industry concerns about the scope were valid. Specifically, Massad said […]

CFTC Extends Overseas Trade Rules Deadline

The Commodity Futures Trading Commission issued a no-action letter on Friday stating that the Commission will be extending its overseas trading rules deadline, giving overseas traders more time to comply with the CFTC’s rules. The CFTC and European regulators came to an agreement in February over how both regulators would handle overseas trading rules, where […]

The Financial Report, 13 October 2016, US Exchanges and Self-Regulatory Organizations

NYSE reminds members of changes to Rule 4530 reporting procedures. The New York Stock Exchange LLC reminded members of their obligations under Rule 4530 to self-report potential misconduct concerning securities, investment and other financial-related matters. In light of recent regulatory changes, NYSE members who are also members of FINRA should continue to file disclosure reports with […]

SEC Requires New Social Media Disclosures on Form ADV

Registered Investment Advisers have long used Form ADV to register with the Securities and Exchange Commission and state securities authorities, but starting next year RIAs will face strict new requirements to also report their use of social media accounts on Form ADV. Previously, advisors were only required to include corporate websites on Form ADV. But […]

CFTC regulator warns attorneys about whistleblower ‘abuses’

Attorneys for Igor Oystacher and his Chicago-based 3Red Trading firm are getting attention from regulators they’re battling in court, but not in a good way. Rosemary Hollinger, deputy director in Chicago for the Commodity Futures Trading Commission’s enforcement division, reminded lawyers attending a securities and commodities enforcement panel last week that it’s not just employers […]

CFTC Puts Nymex, Comex Through Rule Enforcement Tests

CFTC Finds One Area for Improvement A rule enforcement review of the New York Mercantile Exchange (Nymex) and the Commodity Exchange (Comex) by the CFTC’s Division of Market Oversight has yielded a recommendation that both exchanges institute a better way to monitor position limit exemptions. Market participants can exceed position limits as long as they […]

Largest fines imposed on binary options brokers in 2016

Binary options brokers are usually operating in a shady regulation environment and often walk the thin line of lawlessness. They are advertised as a fast way of earning easy money, without having any previous investment and trading experience – just by clicking with the mouse. But first you have to send the brokers your hard-earned […]