The CFTC adopted amendments to regulations governing (i) real-time public swap reporting and dissemination, (ii) swap data recordkeeping and reporting, and (iii) swap data verification policies and procedures.
The DOJ filed a $20 million civil forfeiture Complaint in the U.S. District Court for the District of Alaska alleging violations of the International Emergency and Economic Powers Act and Iranian Transactions and Sanction Regulations violations.
Several industry associations provided commentary on a CFTC proposal to apply federal speculative position limits to 25 "core referenced futures contracts," including futures and options linked to those contracts and economically equivalent swaps.
In a briefing before the Energy and Environmental Market Advisory Committee, the CFTC's Market Intelligence Branch concluded that "the derivatives markets appear resilient in the face of lower liquidity and historic volatility and volume."
In a new report on the Small Business Administration 7(A) Loan Guaranty Program, the Congressional Research Service summarized pending legislation to assist small businesses adversely affected by COVID-19.
FINRA filed a proposed rule change to extend its current pilot program for reviews of clearly erroneous transactions in exchange-listed securities from the previous extension of April 20, 2020 to October 20, 2020.
The Investment Adviser Association and North American Administrators Securities Association offered opposing recommendations to the SEC on its proposal to amend the definitions of "accredited investor" and "qualified institutional buyer."
The U.S. District Court for the Central District of California granted the SEC a default judgment against an unregistered broker-dealer and its CEO for selling unregistered initial coin offering securities.
The CFTC and the DOJ charged the principal of a cryptocurrency escrow company for making false statements to two customers who had given the principal $7 million that their bitcoin would be "safeguarded" by his company.
An investment fund challenged an IRS determination that various contracts entered into between the fund and an investment bank resulted in the fund having effective ownership of the positions that were the subject of the contracts.
The CFTC Office of the Inspector General highlighted significant deficiencies in the agency's Data Governance Program and advised the CFTC to either update the existing Integrated Surveillance System platform or transfer to a better platform.