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 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.
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.
The Council of the European Union updated a proposal to require systemically significant foreign central counterparties to adopt the EMIR and adhere to regulation by the European Securities and Markets Authority and the European Central Bank.
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.
The Board of the International Organization of Securities Commissions (IOSCO) issued a statement on research conducted by the IOSCO Task Force on OTC Derivatives Regulation concerning credit default swap auction processes and the functioning of the ISDA Credit Determinations Committees.