A U.S. Appellate Court upheld the dismissal of a class-action lawsuit brought under the Commodities Exchange Act. The plaintiffs alleged that oil companies manipulated the foreign benchmark for the price of Brent crude oil.
The U.S. District Court for the Southern District of New York denied the Office of the Comptroller of the Currency’s motion to dismiss a lawsuit that challenged the OCC’s authority to issue "FinTech" charters under the National Bank Act.
The New York State Department of Financial Services filed a Complaint to stop the Office of the Comptroller of the Currency from accepting special purpose national bank charter applications from fintech companies.
The SEC Division of Trading and Markets granted the Financial Information Forum and its registered broker-dealer members an exemption from the requirement to issue trade-by-trade confirmations for orphaned fractional share trades.
CFTC Chair J. Christopher Giancarlo called on EU regulators to "commit to an equivalence determination process that focuses on achieving comparable regulatory outcomes and not rule-by-rule exactitude."
A U.S. District Court determined that "the CFTC's antifraud authority unambiguously applies broadly to the use or attempted use of any manipulative or deceptive device in connection with a contract of sale of any commodity in interstate commerce, including the virtual currencies at issue."