Financial Regulatory Forum

CFTC, SEC plan joint hearings on “harmonization”

sec2    By Christopher Doering
   WASHINGTON, Aug 20 (Reuters) – The Commodity Futures Trading Commission and the Securities and Exchange Commission will hold hearings next month to iron out opposing regulatory philosophies in order to make it easier to find violators and introduce new financial instruments, the two agencies said on Thursday.

U.S. CFTC amends ICE Futures Europe pact

cftc2    WASHINGTON, Aug 20 (Reuters) – The U.S. Commodity Futures Trading Commission said on Thursday it revised its agreement with IntercontinentalExchange Inc’s <ICE.N> ICE Futures Europe.
   The announcement follows below.

U.S. CFTC ends relief on ag position limits for 2 firms, vows consistent enforcement


WASHINGTON, Aug 19 (Reuters) – The U.S. Commodity Futures Trading Commission said on Wednesday it was withdrawing no-action letters that provided relief to two firms from federal agricultural speculative positions limits for soybeans, corn and wheat futures contracts.

“I believe that position limits should be consistently applied and vigorously enforced,” said CFTC Chairman Gary Gensler. “Position limits promote market integrity by guarding against concentrated positions.” (more…)

U.S. CFTC seeks to increase regulation of carbon trading

Tom Doggett

WASHINGTON, Aug 17 (Reuters) – The U.S. Commodity Futures Trading Commission proposed on Monday  increasing federal oversight of the Chicago Climate Exchange’s carbon spot contract. (more…)

COLUMN-Commodity trading faces altered landscape: John Kemp

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

By John Kemp
LONDON, Aug 5 (Reuters) – While the U.S. Commodity Futures Trading Commission (CFTC)’s current review of energy markets is likely to result in only modest changes to the formal regulatory framework, centred on tougher position limits and enhanced reporting, the political landscape for commodity trading has changed profoundly.


UK, oil groups to meet on U.S. regulation pressure

Fuel tanker in Britain (file) By Christopher Johnson
LONDON, Aug 4 (Reuters) – Britain’s financial watchdog and the UK Treasury will meet oil industry representatives on Wednesday in response to U.S. pressure for more regulation of commodities markets. (more…)

U.S. bill would restrict OTC derivatives holdings

USA/ By Charles Abbott and Rachelle Younglai
WASHINGTON, July 30 (Reuters) – U.S. financial regulators would gain the power to restrict holdings of over-the-counter derivatives under legislation to be crafted in the coming months, the chairmen of two House of Representatives committees said on Thursday.


Two US House chairmen back mandatory OTC clearing in derivatives reform goals

WASHINGTON, July 29 (Reuters) – Over-the-counter derivatives should go through central clearing and trade on regulated exchanges as much as possible, according to a paper prepared for release by the chairmen of the U.S. House of Representatives Financial Services and Agriculture committees. The paper, obtained by Reuters, is to be unveiled Thursday and is intended as a guide for legislation to be written after Congress returns from its August recess.

Major points in the paper are:

U.S. House ‘concept paper’ has mandatory OTC derivatives clearing

WASHINGTON, July 29 (Reuters) – The leaders of the two U.S. House committees overseeing U.S. securities and futures markets agree that over-the-counter derivatives should move onto regulated exchanges and go through clearing in most cases, according to a “concept paper” that will guide bill-drafting.


NYMEX sets position limits on some natural gas contracts

Traders at New York Mercantile Exchange NEW YORK, July 28 (Reuters) – The New York Mercantile Exchange will impose what it calls “hard expiration position limits” on seven of its natural gas financially settled contracts effective with the October contract expiration.