CFTC Chair Heath Tarbert and SEC Chair Jay Clayton established a one-year pilot program to enhance coordination among agency staff on CFTC enforcement actions that may trigger "bad actor disqualification" provisions under SEC rules.
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JP Morgan Securities LLC, a registered futures commission merchant and swap dealer, agreed to pay a civil monetary penalty to settle CFTC charges that it failed to maintain adequate systems for reconciling exchange and clearing fees for trading of Chicago Mercantile Exchange products.
The CFTC Division of Swap Dealer and Intermediary Oversight ("DSIO") issued an exemptive letter that provides relief from certain provisions of CFTC Rules 4.7(b) and 4.13(a)(3) which restrict marketing to the public. The letter permits the CPO to a private fund to advertise its offering of the fund broadly, to the extent permitted by the JOBS Act amendments to the Securities Act, without becoming subject to the full scope of CPO regulation. The letter harmonizes Rule 4.7(b) and Rule 4.13(a)(3) under the CEA with both Rule 506(c) of Regulation D and Rule 144A under the Securities Act, which, as