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.
Industry associations urged the Basel Committee on Bank Supervision and IOSCO to publicly recommend an extension of the implementation deadlines for the Phase 5 and Phase 6 initial margin requirements for uncleared derivatives.
The Futures Industry Association, the MFA, SIFMA and the Institute of International Bankers, and SIFMA AMG offered recommendations on the CFTC's proposed amendments to uncleared swap margin regulations.
A group of fourteen trade associations urged the European Commission to grant an extension for the temporary equivalence for UK central counterparties until certain regulatory implementations have been made under EMIR 2.2 and until the European Securities and Markets Authority.
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 Managed Funds Association requested that the CFTC provide several clarifications before finalizing proposed rules simplifying regulatory obligations for commodity pool operators and commodity trading advisors.
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 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.