Global cleared derivative markets are made up of a wide variety of participants, from different geographies and different business disciplines. But surprisingly, many of my conversations to start 2023 have focused on a few key priorities.
CONTINUE READINGFTX's unlawful use of customer money should not completely overshadow the groundbreaking ideas it was proposing to disrupt finance. Direct access to exchanges, auto-liquidation, real-time margining—these ideas are not going away. Whether we like it or not, these new approaches to market structure will continue to challenge our way of doing business.
CONTINUE READINGThe panel will discuss SEC tactics such as the increasingly sophisticated use of whistleblowers and trading data surveillance, and evolving enforcement priorities, such as the SEC’s focus on disclosures, sales practices, and other policies and procedures related to sales of complex products and trading strategies, with examples involving complex options-based strategies and variable annuities.
CONTINUE READINGUS Commodity Futures Trading Commission Chairman Rostin Behnam testified before the Senate Agriculture Committee on 1 December, discussing lessons learned from the collapse of FTX.
CONTINUE READINGPolicymakers and industry experts discussed the latest approaches to regulating emerging areas of derivatives markets at FIA Expo 2022 in Chicago on Monday, including areas like crypto assets, retail products and climate-related issues.
CONTINUE READINGK&L Gates discusses the evolving regulatory environment, recent enforcement actions and proposed U.S. legislation for digital assets and their impact on the asset management industry.
CONTINUE READINGFIA also files a supplemental letter urging regulators not to penalise client clearing.
CONTINUE READINGThe US Senate Committee on Agriculture, which oversees the US Commodity Futures Trading Commission, held a hearing on 15 September to discuss the Digital Commodities Consumer Protection Act, a bipartisan legislative proposal that would grant the CFTC additional oversight over spot digital commodities markets.
CONTINUE READINGChair Debbie Stabenow (D-MI) of the Senate Agriculture Committee and Ranking Member John Boozman (R-AR) introduced the Digital Commodities Consumer Protection Act of 2022 last week. This much-anticipated legislation would give the Commodity Futures Trading Commission (CFTC) new tools and authorities to regulate the cash digital asset commodity market while leaving the regulation of digital assets that are deemed securities to the US Securities and Exchange Commission (SEC).
CONTINUE READINGThe US Commodity Futures Trading Commission hosted a wide-ranging and at times contentious discussion on issues related to intermediation in derivatives trading and clearing on 25 May. The roundtable event was more than six hours long, and included representatives from CFTC-registered derivatives clearing organizations (DCOs) and futures commission merchants (FCMs) as well as trading firms, asset managers, agricultural industry representatives, academics, public interest groups, and others.
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