Americas News
The latest industry and regulatory news affecting North and South America.
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CFTC’s Market Risk Advisory Committee discusses margin volatility and LIBOR transition challenges
The US Commodity Futures Trading Commission held a meeting of its Market Risk Advisory Committee (MRAC) on July 21 via teleconference, covering a wide range of topics including the impact of the pandemic on derivatives markets, the current status of the transition away from the Libor benchmark, and an upcoming report on climate-related financial risks.
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FIA comments on CFTC bankruptcy proposals for FCMs and clearinghouses
FIA commented on the CFTC’s recent update to Part 190 of the agency’s regulations dealing with the bankruptcy of FCMs and clearinghouses.
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FIA Supports legislative efforts to grant CCPs access to the Federal Reserve deposit accounts
FIA and ISDA sent a letter to U.S. Rep. Emmanuel Cleaver (D-Mo.) and other Congressional leaders in support of legislative efforts to grant derivatives clearinghouses access to deposit accounts offered by the U.S. Federal Reserve.
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CFTC’s Technology Advisory Committee applauds flexibility in electronic trading proposal
The U.S. Commodity Futures Trading Commission’s Technology Advisory Committee held a wide-ranging public meeting via teleconference on July 16. TAC subcommittees offered several short presentations on topics including the recently proposed electronic trading risk principles, cybersecurity, data security, virtual currencies and distributed ledger technology.
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Insights into penalty guidance - Q&A with CFTC enforcement director James McDonald
In May 2020, the Commodity Futures Trading Commission's Division of Enforcement issued updated guidance—the first since 1994—outlining factors it will consider in recommending civil monetary penalties in enforcement actions. To help FIA members understand the significance of this guidance, Allison Lurton, FIA's general counsel, conducted a live interview with James McDonald, the CFTC's head of enforcement.
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CFTC withdraws Reg AT, advances supplemental electronic trading proposal
Commission also finalizes rulemakings on post-trade name give-up, covered funds and margin requirements
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CFTC approves final rule on registration and compliance for CPOs and CTAs
The U.S. Commodity Futures Trading Commission voted 5-0 on a final rule related to registration and compliance requirements for commodity pool operators (CPOs) and commodity trading advisors (CTAs) at a June 4 meeting held via teleconference.
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Chicago-area derivatives firms give more than $4 million to local food bank
Futures industry steps up to help Chicago Food Depository respond to coronavirus
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CFTC proposes CPO exemption, extends relief for uncleared swaps margin requirements
The U.S. Commodity Futures Trading Commission voted 5-0 to advance two rulemakings at a May 28 meeting held via teleconference. The first item was to propose a registration exemption for commodity pool operators (CPOs) acting on behalf of offshore commodity pools. The second item was an interim final rule extending the compliance schedule for initial margin requirements on uncleared swaps.
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FIA commodities members support swaps data reporting changes
In a recent comment letter, FIA supports the Commodity Futures Trading Commission’s (CFTC) efforts to improve its swap data reporting rules.
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