Energy Metro Desk "Drums Along the Potomac" Focusing on Commissioner O'Malia's Speech on CFTC Priorities

Linked below is an article written by Energy Metro desk entitled "Drums Along the Potomac," which focuses on CFTC Commissioner O'Malia's speech regarding the CFTC's 2014 regulatory agenda. The article cited a number of sources as to their opinions regarding O'Malia's speech. The sources generally agreed with Commissioner O'Malia's view that the CFTC rule making process "has been anything but smooth and transparent." The article also notes a number of recent legal developments including the recent suit filed by three associations in a federal court that challenged the CFTC cross-border guidance. The article also quotes the Cabinet News comment, which opines that, even if the CFTC wins the case against the trade associations, "CFTC is left with 'guidance' that (beyond being ill-advised as a matter of substance) has little legal effect because the supposed 'guidance' (not being a legally-adopted rule) cannot serve as the basis for an enforcement action."

Click here to view the article.The above link is an excerpt from the most recent issue of Energy Metro Desk, which is published biweekly by Scudder Publishing Group, an energy trade news publishing company based in the Washington, D.C. metropolitan area. Those interested in learning more about the Energy Metro Desk may do so by linking to www.energymetro.com or emailing [email protected]. Reprinted with permission of the publisher, Scudder Publishing Group, LLC. Copyright 2013.

See: Drums Along the Potomac (links externally to YouTube).Related News: Market Participants File Lawsuit Challenging CFTC Cross-Border Guidance for Being a Rule Adopted in Violation of the APA (with Lofchie Comment) (December 4, 2013); Javelin SEF Submits More Limited MAT Determination to CFTC (with SIFMA AMG Comment Letter and Lofchie Comment) (December 3, 2013); SIFMA and ISDA Criticize SEFs' Made-Available-to-Trade Submissions (with Lofchie Comment) (November 21, 2013); CFTC Issues Further Guidance on Application of Its Rules to SEFs (with Lofchie Comment) (November 18, 2013); CFTC Issues Staff "Guidance" on Impartial Access to SEFs (with Lofchie Comment) (November 14, 2013); CFTC Staff Issues Four No-Action Letters on Cross-Border Swaps Issues (Letters 13-43, 13-44, 13-45, 13-46) (with Lofchie Comment) (July 11, 2013); CFTC Approves Cross-Border Guidance and Exemptive Order (with Lofchie Comment) (July 13, 2013); CFTC Issues Advisory on Applicability of Transaction-Level Requirements in Certain Cross-Border Situations (CFTC Letter 13-69) (with Lofchie Comment) (November 14, 2013).