Americas News
The latest industry and regulatory news affecting North and South America.
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FIA urges CFTC to fill gaps in customer protections before approving leveraged direct clearing
FIA has filed comments with the Commodity Futures Trading Commission on proposed rulemaking related to the protection of clearing member funds held by designated clearing organizations. FIA’s letter supports the proposed codification of segregation and additional protections for clearing member property, many of which are in place today at major clearinghouses. However, the letter cautions that the rulemaking is far from sound footing for the CFTC to approve new direct clearing models, such as the leveraged disintermediated clearing model first sought by FTX.
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CFTC EEMAC meeting focuses on US bank capital rules
The US Commodity Futures Trading Commission's Energy and Environmental Markets Advisory Committee (EEMAC) held a meeting on 13 February to discuss proposed increases in US bank capital requirements and the implications for and impact on derivatives markets.
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CFTC Market Risk Advisory Committee discusses clearing firm consolidation, operational resilience, and CCP risk
The US Commodity Futures Trading Commission held a meeting of the Market Risk Advisory Committee on 11 December to discuss several current policy issues affecting the derivatives industry.
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FIA and ISDA respond to CFTC recovery and wind-down plans for DCOs
FIA and ISDA have responded to the Commodity Futures Trading Commission's notice of proposed rulemaking on recovery and orderly wind-down plans for derivatives clearing organizations. The associations welcome the CFTC proposal and make several recommendations.
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FIA responds to CFTC risk management proposals for FCMs
FIA has filed a comment letter responding to the Commodity Futures Trading Commission’s advanced notice of proposed rulemaking on risk management program (RMP) regulations for futures commission merchants and swap dealers.
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FIA signs letter to SEC on negative impacts of Safeguarding Advisory Client Assets proposal
FIA has joined with a diverse set of trade associations – 26 in total – in sending a letter to US Securities and Exchange Commission Chair Gary Gensler urging the SEC not to adopt the Safeguarding Advisory Client Assets proposed rule in its current form.
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CFTC codifies no-action relief on DCO reporting
The US Commodity Futures Trading Commission finalized a rule on reporting requirements for Derivatives Clearing Organizations (DCOs) at a public meeting on July 26, codifying existing no-action relief from the agency and forgoing previous proposals that would have required additional reporting related to cyber-related incidents.
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CFTC continues to explore its role in voluntary carbon markets
The US Commodity Futures Trading Commission held its second "voluntary carbon markets convening" on 19 July to gather expert input on the state of the carbon markets.
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FIA defends importance of settlement and price discovery in Texas court filing
FIA has filed an amicus brief with the Supreme Court of Texas in the case of Public Utility Commission of Texas v. Luminant Energy Company, stressing the importance of finality of settlement and price discovery in Texas’ wholesale electricity and related derivatives markets.
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FIA Board Chair testifies before US House Committee
The US House Agriculture Committee held a committee hearing March 9 titled "Rising Risks: Managing Volatility in Global Commodity Derivatives Markets.”
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