Fourth whistleblower award announced. The CFTC announced an award of approximately US$50,000 to a whistleblower who voluntarily provided critical original information that led to a successful CFTC enforcement action. This is the fourth award made by the CFTC’s Whistleblower Program to a whistleblower who provided valuable information about violations of the Commodity Exchange Act, and the third whistleblower award delivered in the last 10 months. (7/26/2016)
Advisory clarifying CCO reporting line requirements. The CFTC’s Division of Swap Dealer and Intermediary Oversight announced that it has issued a staff advisory regarding CCO reporting line requirements for swap dealers, major swap participants, and futures commission merchants under Commission Regulation 3.3. The advisory clarifies the Regulation’s required elements and addresses other supervisory relationships that a CCO may have with senior management. (7/25/2016)
DCR staff prepares guidance to DCOs on Recovery Plans, Winddown Plans. Staff of the Division of Clearing and Risk prepared guidance to Derivatives Clearing Organizations (DCOs) in order to help DCOs in revising and improving their Recovery Plans and Winddown Plans, and in organizing proposed rule submissions to implement their Recovery Plans and Winddown Plans. (7/21/2016) CFTC press release.
CFTC staff approves public comment extension for ICE Futures US’s rule amendment certification filing. The Division of Market Oversight announced that it has granted ICE Futures US’s request for a 15day extension of the public comment period and a 45day extension of the stay period for Submission No. 16 67, dated June 1, 2016. Comments must be submitted on or before July 29, 2016. The extended stay will expire on October 28, 2016. The original public comment period was scheduled to expire on July 14, 2016 and the stay on September 13, 2016. Pursuant to the rule amendment certification, ICE Futures US would clarify that parties to a block trade may engage in prehedging or anticipatory hedging of the position they believe in good faith will result from the consummation of the block trade, except for an intermediary that takes the opposite side of its own customer order. (7/13/2016)