On July 31, 2025, the Commodity Futures Trading Commission’s Division of Market Oversight (CFTC) issued a no-action letter granting relief to reporting counterparties from the swap data reporting error correction notification...more
On July 22, 2025, the Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight and Division of Clearing and Risk issued a no-action letter (CFTC Letter No. 25-23) granting targeted regulatory relief to the...more
The first piece of major US federal legislation in the global digital assets space was signed into law on July 18, 2025, by President Trump.1 Declared by President Trump as positioning the United States to be the “crypto...more
On July 16, 2025, the International Swaps and Derivatives Association (ISDA) announced the launch of its new product, the ISDA Notices Hub. The Notices Hub is an online platform designed to provide market participants with a...more
On April 21, 2025, the Commodity Futures Trading Commission (CFTC) Divisions of Market Oversight, Clearing and Risk, and Market Participants issued two Requests for Comment (RFCs) on 24/7 trading and clearing of derivatives...more
5/13/2025
/ CFTC ,
Comment Period ,
Cryptocurrency ,
Derivatives ,
Digital Assets ,
Financial Markets ,
Proposed Rules ,
Regulatory Agenda ,
Regulatory Oversight ,
Regulatory Requirements ,
Risk Management ,
Technology
On April 17, 2025, the Securities and Exchange Commission (SEC) extended the expiration date of a no-action statement (Compliance Statement) regarding compliance with reporting rules for security-based swap data repositories...more
On January 21, 2025, the International Swaps and Derivatives Association, Inc. (ISDA) published version 2.0 of the 2002 Equity Derivatives Definitions (Versionable Edition) (Equity Definitions VE). The updated version...more
On February 25, 2025, the Commodity Futures Trading Commission (CFTC or Commission) Division of Enforcement (Division) issued an Advisory on how to evaluate a firm’s self-reporting, cooperation, and remediation (referred to...more
On Tuesday, February 25, 2025, the Securities and Exchange Commission (SEC) issued a one-year extension of the compliance dates for its clearing mandate for certain US Treasury cash and repurchase (repo) transactions, in...more
Under Commodity Futures Trading Commission (CFTC) regulations, persons who have claimed an exemption or exception from commodity pool operator (CPO) or commodity trading advisor (CTA) status pursuant to Part 4 of the CFTC’s...more
2/14/2025
/ Business Development Companies ,
CFTC ,
Commodity Pool ,
CPO ,
Disclosure Requirements ,
Investment Companies ,
Registered Investment Advisors ,
Regulatory Agenda ,
Regulatory Reform ,
Regulatory Requirements ,
Reporting Requirements
On January 2, 2025, the Securities and Exchange Commission (the SEC) published an order approving a proposed rule change filed by the Financial Industry Regulatory Authority, Inc. (FINRA) to adopt the new FINRA Rule 6500...more
The Joint Audit Committee has published guidance (Guidance) with respect to the appropriate account documentation required for futures commission merchants (FCMs) to substantiate a grant of discretionary trading authority for...more
Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R- WY) introduced new proposed legislation on June 7, 2022, which would classify the vast majority of digital assets as commodities, and empower the Commodities Futures...more
6/14/2022
/ CFTC ,
Commodities ,
Cryptoassets ,
Cryptocurrency ,
Cybersecurity ,
Digital Assets ,
Environmental Social & Governance (ESG) ,
FERC ,
FinTech ,
Infrastructure Investment and Jobs Act (IIJA) ,
Investment Contract ,
NIST ,
Proposed Legislation ,
Securities and Exchange Commission (SEC)
On Monday, November 27, 2021, the National Futures Association (NFA) submitted to the CFTC proposed amendments to NFA Compliance Rule 2-7 to exclude associated persons (APs), designated as “swap” APs, from the Branch Office...more
On Friday, May 7, 2021, the Financial Industry Regulatory Authority (FINRA) filed a proposal with the Securities and Exchange Commission (SEC) to amend the provisions of a yet-to-become effective version of FINRA Rule 4210...more
The Financial Industry Regulatory Authority, Inc. (FINRA) filed a proposed rule change with the Securities and Exchange Commission (SEC) on December 22, 2020, to once more delay the implementation of amendments to FINRA Rule...more
1/12/2021
/ Adjustable-Rate Mortgage ,
Amended Regulation ,
Broker-Dealer ,
Collateralized Loan Obligations ,
Comment Period ,
Financial Industry Regulatory Authority (FINRA) ,
Margin Requirements ,
Mortgages ,
Proposed Regulation ,
Securities and Exchange Commission (SEC) ,
Time Extensions
On April 3, 2020, the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO) issued a statement recommending an extension to Phases 5 and 6 of the initial margin...more
On November 25, 2019, the Commodity Futures Trading Commission (CFTC) adopted several final regulations to codify existing exemptions from commodity pool operator (CPO) registration. Among them is an exemption that was issued...more
12/18/2019
/ Business Development Companies ,
CFTC ,
Commodity Trading Advisors (CTAs) ,
CPOs ,
Electronic Filing ,
Exemptions ,
Final Rules ,
Investment Company Act of 1940 ,
National Futures Association ,
No-Action Letters ,
Registered Investment Companies (RICs) ,
Registration Requirement
The Financial Industry Regulatory Authority, Inc. (FINRA) filed a proposed rule change with the Securities and Exchange Commission (SEC) on October 25, 2019, to once more delay the implementation of amendments to FINRA Rule...more
On August 20, 2019, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) approved amendments to the regulations implementing Section 13 of the Bank Holding Company Act,...more
8/25/2019
/ Amended Regulation ,
Bank Holding Company ,
Banking Sector ,
FDIC ,
Federal Reserve ,
Final Rules ,
Hedging ,
NPRM ,
OCC ,
Proprietary Trading ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
U.S. Treasury ,
Volcker Rule
On March 5, 2019, the National Futures Association (NFA) submitted to the Commodity Futures Trading Commission (CFTC or Commission) proposed amendments to NFA Bylaw 301 and NFA Compliance Rule 2-24 and the proposed...more
The Financial Industry Regulatory Authority, Inc. (FINRA) filed a proposed rule change with the Securities and Exchange Commission (SEC) on January 29, 2019, to once more delay, until March 25, 2020, the implementation of...more
On January 7, 2019, the National Futures Association (NFA) issued an amendment to its Interpretive Notice on required Information Systems Security Programs (ISSPs) for NFA Members. ISSPs are required by the NFA so that NFA...more
On November 5, 2018, the Commodity Futures Trading Commission (CFTC) unanimously adopted a final rule to set a permanent $8 billion swap dealing activity threshold for purposes of the swap dealer de minimis exemption (Final...more
Earlier today, the National Futures Association (NFA) launched an electronic filing system for submitting promotional materials to the NFA for review (the New Filing System). Until now, promotional materials subject to NFA...more