Three affiliated swap dealers settled CFTC charges for violating foreign currency swap reporting requirements.
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The National Futures Association notified member firms that the CFTC approved an amendment requiring forex dealer members to provide customers with certain transaction execution data upon request.
A non-U.S. swap dealer settled charges with the CFTC for failing to (i) timely report a large number of foreign exchange swap, foreign exchange forward, and non-deliverable forward transactions to a swap data repository ("SDR"), and (ii) properly report non-deliverable forward transactions to an SDR.
The CFTC simultaneously filed and settled charges against two banking institutions for "executing fictitious and noncompetitive block trades in Russian Ruble/U.S. Dollar futures contracts, which were cleared through the Chicago Mercantile Exchange."
The NFA issued new requirements for Forex Dealer Members ("FDMs") to report additional information in their daily Forex Financial Report. The NFA also is adding new line items to the supplementary information section of the monthly form 1-FR-FCM ("FOCUS Filing II"). These informational requirements, in conjunction with the changes to FDM capital requirements, will take effect on January 4, 2016.