CFTC Chair Timothy Massad discussed the CFTC's efforts to address end users' concerns at the 2015 Energy Risk Summit. Chair Massad reiterated the CFTC's intention to "fine-tune" its rules and touched on specific areas of concern for the CFTC to address, including the following: making it easier for local utility companies to access the energy swaps market; granting relief from the real-time reporting requirements for certain less liquid and long-dated swap contracts; modifying the residual interest deadline; revisiting procedures for special calls, especially when automatically triggered by
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A financial services firm and its parent company agreed to pay a $120 million penalty to settle CFTC charges that it submitted false reports in an attempt to manipulate a global benchmark for interest rate products.
The Royal Bank of Scotland plc agreed to pay an $85 million penalty to settle charges of attempted manipulation of the U.S. Dollar ISDA Fix, a financial benchmark referenced in a range of interest rate products.
A futures commission merchant agreed to pay a $70 million fine to settle CFTC charges that it attempted to manipulate a global benchmark referenced in several interest rate products.
A proprietary trading firm filed a class action complaint accusing unknown traders of manipulating the Chicago Board Options Exchange Volatility Index.