Partner
Norton Rose Fulbright US LLP
Steven Lofchie is a Partner based in New York. He advises financial institutions and corporate clients on the securities laws and the Commodity Exchange Act, with particular focus on the regulation of broker-dealers, swap dealers, investment funds and other market intermediaries. Steven's transactional practice focuses on securities credit and derivative transactions.
Recent Articles & Comments
Each of the three Republican commissioners commented favorably on the rule amendments. Commissioner Hester M. Peirce noted that the rule change imposes regulatory costs that must be considered. Neither of the two Democratic commissioners commented, a somewhat notable omission given that the amendment would be one they would likely support.
The official video of "" from Clifford Harris Jr., better known in financial regulatory circles as "T.I."
: "People tend to hold overly favorable views of their abilities in many social and intellectual domains. . . .[T]his overestimation occurs, in part, because people who are unskilled in these domains suffer a dual burden: Not only do these people reach erroneous conclusions and make unfortunate choices, but their incompetence robs them of the metacognitive ability to realize it." According to study, "Paradoxically, improving the skills of participants, and thus increasing their…
The job of the CFTC is to regulate markets in which market participants can agree to transfer risk between them. If there exists a sufficient number of market participants to create a liquid market in which they can buy and sell "climate risk," such risk would be measured by these participants. Then the CFTC should do its best to regulate that market so that it operates efficiently and transparently. It is not the job of the CFTC, as a regulatory agency, to advocate as to carbon taxes (…