CFTC publishes proposed rules amending swap data recordkeeping and reporting requirements for cleared swaps. The US Commodity Futures Trading Commission (CFTC) published proposed amendments to rules relating to swap data reporting. (8/31/2015) Proposed amendments.
CFTC approves National Futures Association rules. The CFTC approved rule amendments and a new interpretive notice filed by the National Futures Association. (8/27/2015) NFA.
Former Sentinel Management Group SVP ordered to pay over US$2 million for the misuse of customer funds. The CFTC announced that a district court entered an order against Charles K. Mosley, resolving charges of customer funds segregation violations of Section 4d(b) of the Commodity Exchange Act over his role as trader and former SVP in the handling of US$562 million in commodity customer segregated funds that had been managed by Sentinel Management Group Inc. Mosley was ordered to pay US$551,000 in disgorgement and a US$1,653,000 civil monetary penalty.(8/25/2015) Commodity Exchange Act Violations.
CFTC votes to propose amendments regarding reporting obligations for cleared swaps. The CFTC voted to propose amendments to existing regulations in an effort to simplify swap counterparties and registered entities as to their reporting obligations for cleared swap transactions, and to improve the effectiveness of data collection and maintenance that is associated with the reporting of the swaps involved in a cleared swap transaction. The comment period will end 60 days after publication in the Federal Register. (8/19/2015) Proposals.
Swap dealer must pay penalty for failing to supervise traders. The CFTC settled charges against provisionally registered swap dealer INTL FC Stone Markets for failing to supervise traders in its Kansas City Energy Group. The respondent agreed to settle the matter, without admitting or denying the allegations, by paying a US$200,000 penalty. (8/19/2015) Swap dealer settlement.