Financial Regulatory Forum

CFTC misses deadline on position limits decision

December 21, 2009

WASHINGTON, Dec 21 (Reuters) – The U.S. futures market regulator on Monday missed a self-imposed end-of-fall deadline to decide whether to issue a proposal to limit the number of contracts investors can hold in “physical” commodities, such as crude oil.

CFTC’s Gensler wants U.S. swaps bills to have more clearing, exchange requirements

October 22, 2009

By Jonathan Spicer
CHICAGO, Oct 21 (Reuters) – The U.S. commodities regulator’s chief said he would work with lawmakers to toughen new derivatives rules recently approved by two congressional groups, signaling he wants more products run through exchanges and clearinghouses, and few companies exempted from clearing.

U.S. futures regulator: cover more of swaps market in regulation overhaul

October 16, 2009

Gary Gensler, chairman of the Commodity Futures Trading Commission, July 22, 2009. File photo) REUTERS/Yuri Gripas WASHINGTON, Oct 16 (Reuters) – The U.S. futures regulator said on Friday that proposed legislation to reform rules for the over-the-counter derivatives market should cover a larger share of the $450 trillion market.

COLUMN – OTC derivatives modernisation deserves support: John Kemp

October 9, 2009

U.S. Representative Barney Frank (D-MA), Chairman of the House Financial Services Committee, listens to a reporter's question during the Reuters Global Financial Regulation Summit in Washington, April 28, 2009.  REUTERS/Jonathan Ernst (UNITED STATES POLITICS BUSINESS HEADSHOT)  — John Kemp is a Reuters columnist. The views expressed are his own —

By John Kemp
LONDON, Oct 9 (Reuters) – Prominent banks and some business groups have warned policymakers their efforts to force standardised over-the-counter (OTC) derivatives transactions onto futures exchanges and into the clearing system will drive trading offshore and raise the cost of genuine risk-hedging for non-financial firms.
But scaremongering by the finance industry’s well-paid lobbyists about “unintended consequences” should not deter legislators from pressing ahead with a worthwhile reform.

COLUMN-Tin squeeze tests regulator’s mettle in U.K.: John Kemp

October 5, 2009

— John Kemp is a Reuters columnist. The views expressed are his own —

By John Kemp
LONDON, Oct 5 (Reuters) – The year-long squeeze in the London Metal Exchange’s tin contract has renewed intense criticism about the ineffectiveness of commodity regulation in London. It comes at an awkward time, just as the UK authorities try to resist pressure from the United States to introduce stricter market oversight and tougher position limits.

SEC, CFTC to release harmonization report on Oct 15

September 30, 2009

Gary Gensler (R), chairman of the Commodity Futures Trading Commission, and Mary Schapiro, chairman of the Securities and Exchange Commission, testify before the House Financial services committee during a hearing on Capitol Hill in Washington July 22, 2009 (file photo). REUTERS/Yuri Gripas (UNITED STATES POLITICS BUSINESS) By Christopher Doering
WASHINGTON, Sept 30 (Reuters) – The two main U.S.
regulators policing the securities and futures markets said on
Wednesday they will issue on Oct. 15 a report outlining where
their regulatory frameworks differ and ways to bridge those

US SEC, CFTC told to align rules to police markets

September 3, 2009

sec1   By Christopher Doering and Rachelle Younglai
   WASHINGTON, Sept 3 (Reuters) – The two main U.S. regulators policing the securities and futures markets were urged on Thursday to align their rules for ferreting out fraud, protecting investors and punishing wrongdoers.

Exchanges differ on SEC-CFTC rule alignment

September 3, 2009

cftc   By Christopher Doering and Rachelle Younglai
   WASHINGTON, Sept 2 (Reuters) – Major exchanges differ on how far U.S. securities and futures regulators should align their rules, with CME Group <CME.O> – the largest derivatives exchange operator – arguing against a one-size-fits-all rule.

CME warns of one-size-fits-all market regulation

September 2, 2009

USA/   NEW YORK, Sept 1 (Reuters) – CME Group Inc <CME.O>, the world’s largest derivatives exchange operator, warned against forcing futures and equities markets into the same regulatory mold on Tuesday, ahead of hearings in Washington.

U.S. market regulators in bid to end turf war

September 2, 2009

sec   By Rachelle Younglai and Christopher Doering
   WASHINGTON, Sept 1 (Reuters) – The two main U.S. agencies regulating securities and futures markets will begin an unprecedented meeting on Wednesday in an attempt to resolve longstanding conflicts laid bare by the financial crisis.