Tag: CFTC

CFTC

In the FICC of It

On this week’s podcast Colin Lambert casts his eye over the week’s news, before he is joined by Matthew Kulkin, partner at US law firm Steptoe, and former director of the CFTC’s Division of Swap Dealer and Intermediary Oversight, to discuss all matters regulatory. Lambert is pleased to find out that one of his observations […]

CFTC Unanimously Approves Reporting Rule Changes

The US Commodity Futures Trading Commission (CFTC) has unanimously approved two proposed rules to revise CFTC regulations for swap data reporting, dissemination, and public reporting requirements for market participants. The Commission also unanimously approved re-opening the comment period of a proposed rule to amend certain agency regulations related to swap data repositories. All three measures […]

And Another Thing…

I have been away in the wilds of Australia for a week so a little rusty on what’s hot, but something did catch my eye as I was waiting for my flight home yesterday – yet another realisation by US authorities that they may have got something wrong in their post-GFC rush to regulate everything […]

Arrest Made as CFTC Files Charges over Digital Assets Scheme

The Commodity Futures Trading Commission (CFTC) has announced the filing of a civil enforcement action in New York against defendants Q3 Holdings and Q3 I, and their principal, Michael Ackerman, for allegedly fraudulently soliciting over $33 million to purportedly trade digital assets and misappropriating a substantial portion of that total. In a separate action, the US Attorney’s […]

Former HSBC Flow Rates Head Charged by CFTC

The US Commodity Futures Trading Commission (CFTC) has filed civil enforcement action in the US District Court for the Southern District of New York against Christophe Rivoire, former global head of flow rates at HSBC in New York, charging him with engaging in a deceptive scheme to manipulate the pricing of an interest rate swap between […]

CFTC Provides Relief to Market Participants Transitioning Away from Libor

Three divisions of the US Commodity Futures Trading Commission (CFTC) have announced that each has issued a no-action letter that provides relief to swap dealers and other market participants as it relates to the industry-wide initiative to transition from swaps that reference the London Interbank Offered Rate (Libor) and other interbank offered rates to swaps […]

LedgerX Founders Placed on Administrative Leave

LedgerX co-founders and senior executives, Paul Chou and Juthica Chou, have been placed on administrative leave by the board of directors of the platform’s parent company, Ledger Holdings. The board has installed Larry Thompson, formerly vice chairman of the Depository Trust & Clearing Corporation (DTCC), as interim CEO and lead director of the firm. Paul […]

Former CFTC Chair Takes Fintech Role at Law Firm

New York law firm Willkie Farr & Gallagher has announced that the appointment of former chair of the US Commodity Futures Trading Commission (CFTC) Christopher Giancarlo as a senior counsel. Giancarlo served as chairman and chief executive of the CFTC from August 2017 to July 2019 after being nominated as a CFTC commissioner by President […]

CFTC Hits Goldman for Recording Failures

The US Commodity Futures Trading Commission (CFTC) has issued an order filing and simultaneously settling charges against Goldman Sachs for failing to make and keep certain audio recordings as required under CFTC regulations for swap dealers. The order requires Goldman to pay a $1 million civil monetary penalty and to cease and desist from further violations […]

CFTC Hits BGC Financial

The US Commodity Futures Trading Commission (CFTC) has issued an order filing and simultaneously settling charges against BGC Financial a futures industry voice broker and registered futures commission merchant (FCM), for numerous supervision, reporting, and recordkeeping violations spanning over five years. The order requires BGC to pay a $3 million civil monetary penalty and to comply […]