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CFTC Adopts Amendments to Permissible Customer Funds Investments by FCMs and DCOs

The Commodity Futures Trading Commission recently published a final rule amending the list of permissible investments for customer funds by futures commission merchants and derivatives clearing organizations....more

CFTC Issues Final Guidance on Listing Voluntary Carbon Credit Derivative Contracts

The Commodity Futures Trading Commission on September 20 issued final guidance aimed at strengthening market integrity, transparency, and liquidity for derivatives with underlying voluntary carbon credits (VCCs). The...more

New CFTC Rule 4.7 Changes Have Private Funds Industry Breathing a Sigh of Relief

The US Commodity Futures Trading Commission on September 12 issued final changes to Rule 4.7 that were limited to an increase in the “Portfolio Requirement” threshold contained in the definition of “qualified eligible person”...more

Register with the CFTC or Leave the US Market—or Risk Enforcement

The US Commodity Futures Trading Commission (CFTC) recently settled enforcement actions against operators of three decentralized finance (DeFi) protocols (i.e., collections of smart contracts on blockchains that offer...more

CFTC Adopts Statutory Disqualification Requirement for Exempt CPOs

The Commodity Futures Trading Commission voted on June 4 to adopt rules prohibiting exempt commodity pool operators and their principals from operating commodity pools if they are subject to any of the statutory...more

Latest CFTC Position Limits Proposal: If At First You Don't Succeed, Try, Try Again

After a decade of rulemaking efforts, the Commodity Futures Trading Commission is proposing revisions to its regulations concerning federal speculative position limits to conform to the Wall Street Transparency and...more

The Commodity Futures Trading Commission's Swaps Cross-border Guidance Proposal

The Dodd-Frank Act amended the Commodity Exchange Act (the Act) to create a new regulatory framework for swaps, and added Section 2(i) to require the application of the Dodd-Frank Act swap requirements to activities that...more

CFTC/SEC Jurisdictional Battle Heats Up Over Dividend Indices

The CFTC recently approved a futures contract on a dividend index as a non-security based index futures contract over the SEC’s objection that the dividend index contract could be a security future; the CFTC’s actions may...more

CFTC Releases No-Action Letter 14-144

The letter modifies previous No-Action Letter 13-22, to expand relief for treasury affiliates entering into swaps on behalf of non-financial end-user affiliates that could otherwise elect the exception in section 2(h)(7) of...more

SEC Permits Portfolio Margining of Credit Default Swaps

Order grants exemptive relief from Exchange Act requirements; parallel CFTC relief expected soon. On December 14, the Securities and Exchange Commission (SEC) issued an order granting exemptive relief (Exemptive Order)...more

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