Tag: Regulation

Regulation

In the FICC of It

There is one item – and a lot of questions – on the run sheet for this week’s In the FICC of It podcast as Colin Lambert and Galen Stops take a long hard look at the London Stock Exchange Group’s $27 billion for Refinitiv. Not least, Stops wants to know, is this the trigger […]

The Libra Hearings, Part Deux

So today it was the turn of the US House Committee on Financial Services putting Facebook’s proposed cryptocurrency, libra, under the microscope, and it was a vast improvement on yesterday’s hearing in the Senate. If you haven’t read the key takeaways from that hearing, you can find them here. Full disclosure: I had to run […]

Key Takeaways from Day One of the Libra Hearings

The US Senate Committee on Banking, Housing and Urban Affairs today held a hearing examining Facebook’s proposed cryptocurrency, libra, and I almost filled up a whole notebook taking notes, which I’ll try and distill into something coherent now. It was fairly compelling, although frequently frustrating and sometimes amusing, stuff. Firstly, it’s worth noting that the […]

New CFTC Chair Vows to “Hit the Ground Running”

As he begins his term today as the 14th chairman of the US Commodity Futures Trading Commission (CFTC), Heath Tarbert says that he intends to “hit the ground running”. “America’s futures, swaps, and options markets are the global standard. Their integrity is essential to the economic security of every American, particularly our farmers and ranchers. […]

Seed CX Subsidiaries Granted Virtual Currency Licenses

Two of Seed CX’s subsidiaries, Seed Digital Commodities Market (SDCM) and Zero Hash, have received approval from the New York Department of Financial Services (NYDFS) for a virtual currency license. Seed CX, through its subsidiaries, offers an exchange for institutional trading and settlement of fiat and digital asset products. The firm also plans to offer […]

CFTC Clarifies Uncleared Swap Margin Rules

The Commodity Futures Trading Commission (CFTC) has issued an advisory noting that under its uncleared swap margin rules, the documentation of initial margin will not be required until the initial margin threshold amount exceeds $50 million. The CFTC says that this advisory was issued in furtherance of the March 2019 statement by the Basel Committee […]

Community Banks Exempted from Volcker Rule

Community banks are set to be exempted from the Volcker Rule. Five US federal financial regulatory agencies have adopted a final rule to exclude community banks from the regulation, a move that they claim is consistent with the Economic Growth, Regulatory Relief, and Consumer Protection Act. The Volcker Rule generally restricts banking entities from engaging […]

Cryptoasset Manager Granted FCA License

Prime Factor Capital (PFC), a London-based cryptoasset management firm, has been granted a license by the UK’s Financial Conduct Authority (FCA) to operate as a full-scope Alternative Investment Fund Manager (AIFM). Under the EU’s AIFM Directive (AIFMD), full-scope AIFMs may manage in excess of €100 million in assets, allowing PFC to begin accepting institutional-size tickets. […]

Cryptocurrencies: Finding the Right Audience

Since the price of crypto assets spiked dramatically in 2017, many have been predicting that a wave of institutional money is going to come into the cryptocurrency market, bringing with it a flood of change.  However, speakers at Profit & Loss’ Forex Network London event argued that the “institutionalisation” of the crypto markets will play […]

CFTC Issues No Action Relief Regarding Swap Dealer Rules

The Commodity Futures Trading Commission (CFTC) has granted no-action relief to registered floor traders from compliance with rules relating to the “swap dealer” definition. According to the CFTC’s swap dealer definition, a registered floor trader does not need to consider cleared swaps executed on or subject to the rules of a designated contract market (DCM) […]