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SEC Release No. 34-64087 March 17, 2011 The SEC published a proposal to "readopt" certain provisions of Exchange Act Rules 13d-3 and 16a-1 in order to clarify that persons who purchase or sell security-based swaps will be within the scope of those rules after the effective date of new Exchange Act § 13(o) (July 16, 2011). The SEC notes that this proposal is only intended to "preserve the existing application of the beneficial ownership rules as they relate to security-based swaps." However, the SEC adds that the staff is also engaged in a project to "modernize" the reporting rules under

76 FR 43851 The CFTC is adopting reporting regulations that require physical commodity swap and swaption reports. The new regulations require routine position reports from clearing organizations, clearing members and swap dealers and also apply to reportable swap trader positions. Effective Date: September 20, 2011 Cross References Dodd-Frank Act, Title VII; CEA Secs. 4a, 4t and 8a(5); 17 CFR Parts 15 and 20

CFTC Press Release 6144-11 CFTC Staff Letter The CFTC's Division of Market Oversight issued a letter to market participants requiring compliance with the new large trader reporting system for physical commodity swaps and swaptions. Clearing organizations and clearing members must begin reporting under the new system on November 21, 2011, and the Division requires fully compliant month-end open interest reports to be collected beginning September 2011 through February 2012 and submitted to the Commission by March 20, 2012. The Division is providing a temporary and conditional safe harbor for

CFTC Press Release 6156-11 Large Trader Reporting for Physical Commodity Swaps: Division of Market Oversight Guidebook for Part 20 Reports The CFTC's Division of Market Oversight today issued a Guidebook for Part 20 Reports providing additional guidance and detailed instructions for submitting large swaps trader reports to the Commission. On July 22, 2011, the Commission published a new Part 20 of the Commission's Regulations in the Federal Register that requires large trader reports for physical commodity swaps. The Guidebook includes a data dictionary for mapping data elements to a record

CFTC Enforcement Press Release 6167-12 Order: Newedge USA, LLC The CFTC entered an order requiring Newedge USA, LLC (Newedge), a New York-based FCM to pay a $700,000 civil monetary penalty for submitting inaccurate large trader reports to the CFTC and for violating a February 7, 2011, CFTC order directing Newedge to improve the accuracy and timeliness of its large trader reporting. In addition to imposing a civil monetary penalty, the CFTC's order requires Newedge to cease and desist from violating the Commodity Exchange Act's requirement to timely submit accurate position reports and notices