The CFTC approved a final rule updating the swap execution facility regulatory regime, approved new exemptions from the trade execution requirement, and withdrew an unadopted proposal due to marketplace objection.
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.
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."
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 SEC charged the former CEO and president of a Nasdaq-traded security technology company and three other individuals in a fraudulent broker bribery scheme. The DOJ filed charges against one of the individuals in a parallel action.
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.