The Committee on Payments and Market Infrastructures and IOSCO recommended practices that central counterparties might consider in "the development of, and improvements to, default management auction rules, governance arrangements" and related procedures.
The CPMI and IOSCO concluded that the U.S. frameworks for systemically important payment systems, central securities depositories and securities settlement systems are consistent with the Principles for Financial Market Infrastructure.
The U.S. District Court for the District of Connecticut ordered a former precious metals trader to pay a civil monetary penalty for placing orders with the intention of canceling them prior to execution.
The U.S. District Court for the Southern District of New York determined that the CFTC failed to prove that a Chicago trader and his firm had either manipulated or attempted to manipulate the price of certain interest rate swaps.
IOSCO found that members have made "substantial progress" towards achieving full compliance, and, in certain instances, have improved their implementation of the "Principles for the Regulation and Supervision of Commodity Derivatives Markets."
In a final report, the Financial Stability Board, along with a group of other international financial regulatory bodies, evaluated how post-financial crisis reforms affect incentives for the central clearing of derivatives.
A U.S. District Court ruled in favor of the Board of Trade of the City of Chicago, Inc. and Chicago Mercantile Exchange, Inc. from allegations that they conspired to stop the CFTC from approving the application of a competing exchange.
In a new consultation paper, IOSCO and other international standard-setting bodies examine whether adequate incentives to centrally clear over-the-counter derivatives are in place in light of regulatory reform efforts.
In a new report, the Committee on Payments and Market Infrastructures and IOSCO issued an update on the progress made by participating jurisdictions in implementing international standards for payment, clearing and settlement systems.
The U.S. District Court for the District of Columbia ordered two Ireland-based companies that operate an online "prediction market" trading website to pay a $3 million penalty for violating a 2005 cease and desist order and illegally trading binary options.
The Bank for International Settlements Committee on Payments and Market Infrastructures and IOSCO provided guidance for derivatives regulators on harmonizing certain "critical" data elements for over-the-counter transactions.