The Commodity Futures Trading Commission's ("CFTC") new Enforcement Manual ("Manual"), while codifying past practice and pronouncements, hints that
After years of steady growth, the resurgence of stock market volatility has propelled the CBOE Volatility Index, also known as the VIX or, more
On January 19, 2017, the Division of Enforcement of the Commodity Futures Trading Commission ("CFTC") issued two advisories outlining cooperation
Six years following the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act, regulations governing margin delivery
Gretchen L. Lowe, Acting Director of the Division of Enforcement of the U.S. Commodity Futures Trading Commission (CFTC), participated in a March 31
After two years of uncertainty, joint final rules released by the U.S. Securities and Exchange Commission (“SEC”) and the U.S. Commodity Futures Trading Commission (“CFTC”) in July have provided important guidance for the loan market about the definitions of “swap,” “security-based swap” and other key terms underlying the new derivatives regulatory framework required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Although the syndicated loan market was not a focus of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the legislation introduced uncertainty regarding whether loan participations would be regulated as swaps.
Until now, operators and advisors of investment vehicles that trade in listed futures contracts and commodity options (so-called commodity “pools”) have enjoyed exemption from registration with the U.S. Commodity Futures Trading Commission (“CFTC”) provided they managed pools of capital funded solely by sophisticated investors.
A fter the failures of Lehman Brothers and MF Global, market participants should appreciate the importance of understanding the whereabouts of their collateral and all possible competing claims to that collateral regardless of whether it is posted to support commodities, swaps or futures trading, or held in custody by a prime broker or other financial institution.
The Dodd-Frank Wall Street Reform and Consumer Protection Act represents a paradigm shift in the financial regulatory environment, introducing the most sweeping changes to financial regulation in the United States since the series of regulations passed in the wake of the Great Depression.