News & Insights

Help
6 News Results

The American Banking Association, SIFMA and the Institute of International Bankers proposed revisions to a Federal Reserve Board proposal to modify its regulations for determining "whether a company has the ability to exercise a controlling influence" on another company.

The CFTC entered an order and simultaneously settled charges against an Australia-based financial services company for failing to comply with the obligation to submit accurate large trader reports ("LTRs") for physical commodity swap positions. This failure violated Section 4s(f) of the CEA and CFTC Rules 20. 4 and 20.7. The order states that the financial services company (i) did not identify any underlying commodity, (ii) routinely populated the field for "Commodity Reference Price" in a format other than the one provided by the CFTC's Guidebook for Part 20 Reports , (iii) reported certain

The Senate Homeland Security and Governmental Affairs Committee's Permanent Subcommittee on Investigations scheduled a two-day hearing, titled "Wall Street Bank Involvement with Physical Commodities," to be held on November 20 and November 21, 2014. According to its release, the Subcommittee plans to examine the extent to which banks and their holding companies own physical commodities, such as oil, natural gas, aluminum and other industrial metals, as well as own or control businesses, such as power plants, oil and gas pipelines, and commodity warehouses. Subcommittee Chair Carl Levin (D-MI)