In remarks at an industry conference, CFTC Chair Rostin Behnam highlighted CFTC challenges in 2022 and upcoming initiatives.
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FIA urged the SEC to exclude futures commission merchants from its proposed requirement to centrally clear transactions in Treasury securities.
The CFTC Market Participants Division extended temporary no-action relief to permit futures commission merchants to invest customer funds in securities that include an adjustable interest rate benchmarked to the Secured Overnight Financing Rate.
A futures commission merchant settled CFTC charges for failing to (i) implement an adequate AML program, (ii) impose risk-based trading position limits on a customer's accounts and (iii) maintain customer records for a substantial period of time.
CFTC Commissioner Christy Goldsmith Romero decried the unchecked Wall Street's risk-taking that required Treasury bailouts in the past, and she highlighted the need for regulators to reduce "systemic or sub-systemic" risk.