Yesterday, the U.S. Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) announced the issuance of a time-limited no-action letter stating that, from March 1, 2017
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CFTC
The US Attorney, CFTC, and Navinder Sarao
We have previously provided updates1 on the Navinder Singh Sarao case, pending in the U.S. District Court for the Northern District of Illinois. After being charged in February 2015…
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Coscia Gets 3 Years in Prison: The Criminalization of Trading Commodities?
Sarao, Coscia, and now the Berkshire Power Company, each charged with crimes – spoofing, fraud, false information – relating to commodity trading. Commodity traders likely have incorporated into their compliance…
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FinCEN Finalizes Customer Due Diligence Rule
May 6, 2016, the Financial Crimes Enforcement Network of the U.S. Department of the Treasury (FinCEN) finalized regulations that will require banks, securities broker dealers, mutual funds, futures commission merchants,…
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FINRA and MSRB Propose New Pay-to-Play Restrictions on Broker-Dealer Solicitors and Municipal Advisors; Rules Will Trigger SEC Investment Advisor Third-Party Solicitation Ban
On Dec. 16, 2015, the Financial Industry Regulatory Authority (FINRA) and Municipal Securities Rulemaking Board (MSRB) simultaneously filed with the Securities and Exchange Commission (SEC) rule proposals that will have …
Continue Reading FINRA and MSRB Propose New Pay-to-Play Restrictions on Broker-Dealer Solicitors and Municipal Advisors; Rules Will Trigger SEC Investment Advisor Third-Party Solicitation Ban
How the SEC Proposed New Derivatives Rules Affect Registered Funds and Business Development Companies
On Dec. 11, 2015, the SEC proposed new derivatives rules for registered funds and business development companies. The proposed rules set limits on portfolio exposure and the requirement that funds …
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CFTC Issues Sweeping Proposed Rulemaking Regarding Automated Trading
On Nov. 24, the United States Commodity Futures Trading Commission (CFTC) unanimously proposed a set of sweeping rules that would govern individuals and entities engaged in automated trading on U.S. …
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