CFTC Press Release 6157-11 The CFTC will hold a public meeting on Tuesday, December 20, 2011., on the following topics: (1) Final Rule on Real-Time Reporting of Swap Transaction Data; (2) Final Rule on Swap Data Recordkeeping and Reporting Requirements; and (3) Final Rule on Effective Date for Swap Regulation.
News & Insights
Speech by CFTC Commissioner O'Malia CFTC Commissioner discusses a wide range of topics including the end-user exemption , the swap dealer definition (which he characterizes as overly broad in contrast with the de minimus exemption which is too narrow), capital and margin, DCM rulemaking; mandatory trade data reporting, position limits (bona fide hedge is defined "too narrowly," and aggregation rules are "too complex"), and MF Global.
MF Global Trustee's Press Release The Trustee for the liquidation of MF Global Inc., announced that U.S. Bankruptcy Judge Martin Glenn today approved the Trustee's request for approval of a bulk transfer and distribution to former MF Global Inc. retail commodities customers with US futures positions, which should result in those account holders receiving approximately 72% of their property." Cross References: CEA Section 4d; CFTC Rules 30.7 Part 190; Lofchie's Guide to CPO/CTA Regulation: Chapter 12, Insolvency.
Testimony of NFA President Daniel J. Roth NFA head Dan Roth testifying before the House Agriculture Committee outlines possible regulatory changes that need to be considered in light of the MF Global insolvency. Cross References: CEA Section 4d; CFTC Rules Part 190; Lofchie's Guide to CPO/CTA Regulation: Chapter 12, Insolvency.
Joint Statement on OTC Derivatives Leaders and senior representatives of the authorities responsible for regulation of the over-the-counter derivatives markets in Canada, the European Union, Hong Kong, Japan, Singapore and the United States met yesterday in Paris. The meeting included CFTC Chairman Gary Gensler. In the meeting, the authorities addressed the cross-border issues related to the implementation of new legislation and rules to govern the OTC derivatives markets in their respective jurisdictions. At the conclusion of the meeting, the authorities agreed to continue bilateral