The CFTC Division of Swap Dealer and Intermediary Oversight (the "Division") granted no-action relief to three CPOs from registration and the requirement to deliver quarterly account statements. The Division granted relief ( see here and here ) to two CPOs from registration, provided that each CPO delegated its responsibilities under CEA Section 4m(1) to a registered CPO, subject to certain conditions. The relief was granted notwithstanding the parties' inability to meet one of the conditions - that the "Delegating CPO" and the "Designated CPO" be under common legal control - so long as they
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A national bank agreed to pay a total of $1 billion to settle charges with the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau regarding its comprehensive risk management program and certain home mortgage and auto loan policies.
U.S. District Court for the Southern District of Florida Judge William P. Dimitrouleas entered an Order of Final Judgment by Default against Joseph Charles DiCrisci and his company for (i) engaging in illegal off-exchange precious metal transactions, and (ii) failing to register with the CFTC as a futures commission merchant.
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.