The Congressional Research Service summarized current legal standards for insider trading, and described legislative reform efforts to "codify the elements of the offense and fill perceived gaps in existing doctrine."
A futures commission merchant settled CFTC charges for supervisory failures concerning the handling of customer accounts "by not adequately preparing and configuring its electronic trading system" before a negative futures price event affecting sweet crude oil futures contracts.
CFTC Commissioner Stump outlined the agency's regulatory and enforcement authority with respect to digital assets. Commissioner Stump noted the proliferation of digital assets has resulted in the "grossly inaccurate oversimplification" that such assets are either SEC-regulated securities or CFTC-regulated commodities.
The CFTC Market Participants Division provided temporary no-action relief to permit futures commission merchants to invest customer funds in certain securities containing an adjustable interest rate that is benchmarked to the Secured Overnight Financing Rate.
In the U.S. District Court for the Southern District of New York, a pair of affiliated interdealer brokers settled CFTC fraud charges related to fictitious bids that had not been made and reported trades that had not occurred.
Several trade groups expressed support for CFTC-proposed amendments to uncleared swap margin requirements. The groups offered additional recommendations to enhance the proposals or further their intended impact.