WASHINGTON (Reuters) – The top U.S. derivatives regulator on Friday gave foreign banks more time to meet new derivative trading rules that had earlier sparked fears that international financial markets could pull away from U.S. banks.

The Commodity Futures Trading Commission (CFTC) said that foreign banks now had until July 12, 2013, to comply with the rules and said it would continue to fine tune the regulations that have also drawn the wrath of foreign regulators.

WASHINGTON, Dec 21 (Reuters) – The top U.S. derivatives
regulator on Friday granted foreign banks more time to meet new
rules for swap trading, saying it would continue to fine-tune
the regulation that has drawn the wrath of foreign regulators.

The Commodity Futures Trading Commission (CFTC) said that
foreign banks had until July 12, 2013, to comply with the rules
once registered as swap dealers. They will need to start
registering at the end of this year.

WASHINGTON (Reuters) – A group of U.S. Congress members across the political divide urged the country’s top derivatives regulator to decide quickly how its rules apply abroad, or risk disrupting derivatives markets.

The Commodity Futures Trading Commission (CFTC) has only a few days left to finalize its international approach, after drawing flak from foreign regulators about the blunt way it imposed its rules on banks abroad.

WASHINGTON (Reuters) – On Monday, October 15, top U.S. derivatives regulator Gary Gensler watched a mock ceremony to mark the start of a broad overhaul of the swaps industry that started that day.

In a conference room at the Commodity Futures Trading Commission (CFTC), two senior staff members cut a white ribbon hanging over a copy of the 2010 Dodd-Frank act.

WASHINGTON, Dec 14 (Reuters) – The U.S. Federal Reserve will
vote on Friday on whether to propose rules to subject foreign
banks to tighter capital and liquidity requirements, to protect
taxpayers from having to bail out foreign banks.

The plan would force foreign banks to subsume all their
subsidiaries under one U.S. holding company, subject to the same
capital standards as U.S. holding companies, and the banks will
also need to hold liquidity buffers.

WASHINGTON (Reuters) – Top U.S. regulators on Thursday said they hoped to give the $650 trillion derivatives industry more time as they work out how the new regulations on swap contracts will apply overseas.

Many foreign banks, as well as U.S. banks, face a December 31 deadline by which they need to comply with many of the new rules from the top U.S. derivatives regulator for swaps, financial instruments used now mostly for speculation.

WASHINGTON (Reuters) – A federal judge upheld a new regulation governing the mutual funds industry on Wednesday, ruling against two industry trade groups that had sought to block a registration rule by the Commodities Futures Trade Commission.

The Investment Company Institute and the U.S. Chamber of Commerce had filed a lawsuit in April seeking to overturn the new regulation, claiming that the CFTC’s requirement for funds to register duplicates a similar rule from the Securities and Exchange Commission.

WASHINGTON, Dec 10 (Reuters) – The latest challenge to
investment banks’ iron grip on finance has its unlikely roots in
agriculture.

Since the mid-1980s, Wall Street has built a $650 trillion
playground for speculators using financial instruments called
swaps. These were originally designed to insure companies
against financial risks.

WASHINGTON, Dec 7 (Reuters) – Goldman Sachs Group Inc
was fined $1.5 million to settle charges it failed to supervise
its traders and allowing one futures dealer to hide billions in
dollars from sight and causing a $118 million loss.

Ex-Goldman trader Matthew Marshall Taylor in 2007
camouflaged an $8.3 billion position, manually entering fake
trades, the Commodity Futures Trading Commission (CFTC) said on
Friday.

WASHINGTON, Dec 5 (Reuters) – The top U.S. derivatives
regulator on Wednesday filed a civil complaint against Hunter
Wise Commodities and accused the company of fraudulently
marketing commodity contracts.

The Commodity Futures Trading Commission (CFTC) alleges that
Hunter Wise, based in Las Vegas, had improperly taken in at
least $46 million in customer funds since July 2011.