Commissioner Lee complains about the absence of a "mandatory standardized framework" for evaluating disclosure as to climate risk or other ESG measures in the absence of a government mandate. Perhaps the reason why there is no such standardization is that no objective standardization is possible. For example, does nuclear power rate high as being good for climate change or does it rate low as being dangerous? Who is to be the arbiter of what is a socially good organization? In the absence of…

While there is much that will be debated in terms of the substantive requirements that the CFTC must set (including the numbers, the application to non-spot months, the reporting requirements and exemptive procedures), perhaps the most important issue relates to the proposed requirement that the CFTC should not impose a position limit in the absence of finding that such a limit is "necessary." Both sides made their statutory arguments as to why such a finding was either (i) needed (the…

A business does not turn away cash because it doesn't want customers. There are many reasons why a business may choose the manner in which it charges or accepts payment for services. It may turn away cash because of the possibility of theft, whether it is employee theft or robbery by outsiders. (Speaking as a former NYC nighttime cab driver, there are many situations in which it is quite desirable to be able to advertise that one is not carrying cash.)

Further, why isn't this a local…

This case illustrates the overlapping authority and jurisdiction of the SEC and the CFTC.