Financial Regulatory Forum

Energy companies moving forward with CFTC compliance despite uncertainties

By Guest Contributor
May 31, 2012

By Thomas A. Utzinger (U.S.)

NEW YORK, May 31 (Business Law Currents) – Electric utilities and natural gas companies are facing new regulatory uncertainties involving the jurisdictional reaches of two agencies overseeing futures and derivatives trading as well as wholesale energy transactions: the U.S. Commodity Futures Trading Commission (CFTC) and the Federal Energy Regulatory Commission (FERC). Recent rulemaking efforts and litigation have raised questions as to the overlap and division of powers of these two entities over certain financial transactions and enforcement actions of interest to the energy industry. (more…)

US Congress Looks for New Ways to Tax Financial Services

May 4, 2010

During a congressional hearing, lawmakers searched for ways to use the tax code to dampen short-term speculation in the financial markets and close the budget deficit. To fix the problem, they suggested changes in tax structures, including discounted capital gains tax for long-term investors, transaction tax, bank tax, and financial speculation tax, Thomson Reuters WG&L Accounting & Compliance Alert reports.

Divide grows on setting U.S. energy position limits

By Reuters Staff
September 16, 2009

Traders work in the Crude & Natural Gas Options pit at the New York Mercantile Exchange June 10, 2009.   REUTERS/Shannon Stapleton By Christopher Doering
WASHINGTON, Sept 16 (Reuters) – The top U.S. futures regulator and two main commodity exchanges were conflicted on Wednesday over who should set tougher position limits if the the Commodity Futures Trading Commission proceeds to take action to curb market manipulation.

Proposed commods regs could boost volatility -CME

July 14, 2009

CME   NEW YORK, July 13 (Reuters) – Rules proposed by the U.S. Commodities Futures Trading Commission to limit speculation in commodities markets could boost volatility, the executive chairman of exchange giant CME Group Inc said on Monday.
   “The less participants you have in the marketplace the greater the bid/offer spread is going to be,” Terry Duffy said in an interview with Reuters TV.
(more…)

U.S. futures regulator to swiftly curb excessive speculation

By Reuters Staff
July 10, 2009

Futures trader in Chicago By Christopher Doering
WASHINGTON, July 10 (Reuters) – The Commodity Futures Trading Commission will move aggressively to rein in excessive speculation in energy and commodity markets by focusing on expanding its existing authority and could have new regulations in place by late October. Bart Chilton, one of five commissioners at the CFTC, said he could not predict what the agency will do, but he would like to see the proposed rules issued in September, then implemented by late October or November after a period of public comment. (more…)

U.S. regulator seeks tighter controls on commodity trading

By Reuters Staff
July 7, 2009

Chairman of U.S. Commodity Futures Trading Commission Gary Gensler (R) and Securities and Exchange Commission Chairman Mary Schapiro.    By Russell Blinch
   WASHINGTON, July 7 (Reuters) – The top regulator of U.S. futures markets is considering a clampdown on excessive speculation in energy and commodity trading by restricting holdings of big players, part of a broader move by the Obama administration to stabilize the financial markets. (more…)