"The Risk Desk" editor John R. Sodergreen described the debate between CFTC Chair Timothy Massad and Commissioner Chris Giancarlo over an amendment to proposed Regulation Automated Trading that would allow the CFTC access to an algorithmic firm's trading source code without first issuing a subpoena.
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An energy marketing and advisory company settled CFTC charges for acting as a futures commission merchant without registering with the agency.
MFA Comment Letter RIN 3038-AD30 April 12, 2011 MFA submitted comments to the CFTC on its proposal to rescind sections 4.13(a)(3) and (a)(4), exemptions from registration as a commodity pool operator (CPO), in which it expressed concerns that wholesale rescission of these exemptions would require many investment advisers to dually register as CPOs, and require unnecessary, duplicative and burdensome regulation. MFA recommend that the Commission preserve and amend the exemption in: (1) section 4.13(a)(4) for an investment adviser who is registered with the SEC; and (2) section 4.13(a)(3) for an
A group of leading trade associations urged the CFTC to focus on pre-trade risk controls instead of promulgating one-size-fits-all prescriptive rules, and to continue the dialogue with the industry on the remaining portions of proposed Regulation Automated Trading.
The CFTC filed and simultaneously settled charges against a Hong Kong-based bitcoin exchange for (i) offering illegal off-exchange financed retail commodity transactions in bitcoin and other "cryptocurrencies," and (ii) failing to register as a futures commission merchant pursuant to CEA requirements.