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Feb 1, 2012

Exclusive: MF Global triggers regulatory rethink at CFTC

WASHINGTON (Reuters) – The head of the Commodity Futures Trading Commission has ordered an extensive review of how futures brokerages are regulated, following the collapse of MF Global three months ago, a CFTC official told Reuters on Wednesday.

CFTC Chairman Gary Gensler ordered the review after questions emerged about whether the CFTC or exchange-operator CME Group, whose self-regulatory arm served as MF Global’s front-line regulator, could have done more to prevent the firm’s collapse and safeguard customer money.

Feb 1, 2012

MF Global triggers regulatory rethink at CFTC

WASHINGTON, Feb 1 (Reuters) – The head of the
Commodity Futures Trading Commission has ordered an extensive
review of how futures brokerages are regulated, following the
collapse of MF Global three months ago, a CFTC official told
Reuters on Wednesday.

CFTC Chairman Gary Gensler ordered the review after
questions emerged about whether the CFTC or exchange-operator
CME Group (CME.O: Quote, Profile, Research), whose self-regulatory arm served as MF
Global’s front-line regulator, could have done more to prevent
the firm’s collapse and safeguard customer money.

Jan 30, 2012

CFTC panel to review high-frequency trading

WASHINGTON (Reuters) – The Commodity Futures Trading Commission is expected to review a rapid-fire technique that allows traders to buy and sell shares at lightning speed, a step that could help it better understand the impact of an activity critics say threatens market stability.

Scott O’Malia, a Republican CFTC commissioner, has proposed the formation of a subcommittee that would be tasked with defining and identifying high-frequency trading in futures, swaps and options.

Jan 18, 2012

Regulators say will strike balance on Volcker rule

WASHINGTON (Reuters) – U.S. regulators said on Wednesday they believe their agencies can implement a ban on proprietary trading without crushing banks’ ability to buy and sell securities on behalf of customers.

The 2010 Dodd-Frank financial oversight law’s Volcker rule prevents banks that receive government backstops like deposit insurance from making risky trades with their own funds.

Jan 11, 2012

CFTC approves more protections for customer money

WASHINGTON (Reuters) – The U.S. futures regulator on Wednesday adopted further protections for customer collateral posted in swap trades, an area of heightened importance as the search continues for hundreds of millions of dollars in missing MF Global customer money.

The Commodity Futures Trading Commission also will vote on its draft of the Volcker rule that cracks down on banks’ risky trading, a version similar to one introduced by four other regulators last October.

Jan 11, 2012

CFTC to vote on protections for customer money

WASHINGTON, Jan 11 (Reuters) – The U.S. futures
regulator is expected to adopt on Wednesday further protections
for customer collateral posted in swap trades, an area of
heightened importance as the search continues for hundreds of
millions of dollars in missing MF Global (MFGLQ.PK: Quote, Profile, Research) customer
money.

The Commodity Futures Trading Commission also will vote on
its draft of the Volcker rule that cracks down on banks’ risky
trading, a version similar to one introduced by four other
regulators last October.

Jan 11, 2012

CFTC to vote on customer collateral, Volcker rules

WASHINGTON (Reuters) – The futures regulator will vote on a series of rules on Wednesday that include its draft of the so-called Volcker Rule and a measure protecting customer collateral posted in swap transactions.

The Commodity Futures Trading Commission has finalized nearly two dozen rules but it is behind on completing much of a regulatory framework for the $700 trillion over-the-counter derivatives market required under the Dodd-Frank law. Many of the high-profile and controversial rules remain.

Jan 10, 2012

CFTC fines Newedge USA for trader reporting errors

By Christopher Doering

(Reuters) – Newedge USA, LLC was ordered by the Commodity Futures Trading Commission to pay a $700,000 penalty for submitting inaccurate large trader reports to the futures regulator and violating a prior order, the agency said on Monday.

The CFTC said that, from about March 2011 through July 2011, Newedge’s large trader position reports submitted to the CFTC contained numerous errors, including overstating and understating open interest, and failing to report required positions.

Dec 20, 2011

CFTC sheds light on real-time reporting of swaps

WASHINGTON (Reuters) – Wall Street will be required to report complex swap trades in “real time” under a final rule the U.S. futures regulator approved on Tuesday, moving to lift the veil on the murky $700 trillion market, but the agency delayed a decision on block trades until next year.

The rule is the latest to be voted on by the Commodity Futures Trading Commission, which has struggled to keep pace with the rulemaking timetable laid out in the 2010 Dodd-Frank law that instructed it to help write a regulatory framework for the once-opaque OTC derivatives market.

Dec 20, 2011

CFTC to finalize rules on swaps data reporting

WASHINGTON (Reuters) – The U.S. futures regulator will vote on a final rule requiring swap trades to be reported “as soon as technologically possible” with times varying depending on the market player and the type of transaction – a major step to help the agency increase transparency in the $700 trillion market.

The rule is the latest to be voted on by the U.S. Commodity Futures Trading Commission, which has struggled to keep pace with the rulemaking timetable laid out in the 2010 Dodd-Frank law that instructed it to help write a regulatory framework for the once-opaque OTC derivatives market.

    • About Christopher

      "Currently based in Washington, Christopher reports on agriculture in Congress and the U.S. Agriculture Department. He also is actively involved in covering regulatory reform, with a focus on the U.S. Commodity Futures Trading Commission."
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