Citigroup Global Markets, Inc., a registered futures commission merchant and provisionally registered swap dealer, agreed to pay a $25 million civil monetary penalty to settle CFTC charges of spoofing and related supervisory failures.
News & Insights
The CFTC Division of Swap Dealer and Intermediary Oversight ("DSIO") issued two no-action letters regarding FCMs' handling of customer funds, both intended to deal with operational issues. The first letter (14-02) provides time-limited relief as to the situation where a customer makes a single margin transfer that is required to be divided up into two or three separate types of segregated accounts; e.g. , between Part 30 Secured Funds, Section 4d(a)(2) U.S. futures funds and Cleared Swap Funds. An FCM receiving such a single payment may not be able to split the money instantaneous ly between
Several financial industry trade associations filed a joint letter with the CFTC requesting a six-month extension of the comment period for the supplemental proposal to Regulation AT.
University of Houston Finance Professor Craig Pirrong voiced skepticism over the CFTC's proposed Regulation Automated Trading requirement that algorithmic traders provide the CFTC with source code information.
The Senate Agricultural Committee passed the Commodity End-User Relief Act, a bill that would reauthorize the CFTC through 2018 and amend certain provisions of the Dodd–Frank Act.