Regulatory Reform and the Merger of the SEC and CFTC

Periodically, there have been calls to merge the SEC and the Commodity Futures Trading Commission (CFTC). As the market crisis unfolded, for example, former Treasury Secretary Henry Paulson proposed reforms which included merging the SEC and the CFTC. Many commentators thought the Madoff and other...

Sutherland Alert: CFTC Issues Sixth Series of Proposed Rules Under Dodd-Frank Including Rules to Further Define Swap Entities December 2, 2010

by The Sutherland Regulatory Reform Task Force Team The Commodity Futures Trading Commission (CFTC) issued its sixth series of proposed rules under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) at an open meeting held yesterday, Wednesday, December 1, 2010. The proposed...

Sutherland Alert: CFTC Issues Two Additional Proposed Rules Under the Dodd-Frank Act at Its First Open Meeting of 2011 January 14, 2011

by Jamie Cain and Ann Battle The Commodity Futures Trading Commission (CFTC) issued two proposed rules under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) at its first open meeting of the new year on Thursday, January 13, 2011. The first proposed rule addresses position...

Possible CFTC Regulation Extended to Private Fund Advisers Trading in Swaps, Futures Contracts, and Commodity Options

by Susan I. Gault-Brown, Cary J. Meer and Lawrence B. Patent CFTC's proposed rule amendments would subject operators of private funds that trade futures contracts, commodity options, and swaps to commodity pool regulation and may subject private fund advisers to dual SEC/CFTC regulation. Excerpt...

Foley & Lardner Alert: CFTC Order and Staff No-Action Letter Regarding Dodd-Frank Effectiveness for Swap Regulation

On July 14, 2011, the Commodity Futures Trading Commission ("CFTC" or "Commission") issued a Final Order on Effective Date for Swap Regulation ("CFTC Order") that provides temporary exemptive relief (i) delaying implementation of various provisions of Title VII of the Dodd...

CFTC Re-Imposes Limitations on Derivative Activities by Registered Investment Companies

Amended Rule 4.5 will require the operators of Registered Funds to either limit such Funds' use of commodity futures, options, leverage contracts, retail forex contracts, and swaps (together, "commodity interests") or submit to dual regulation by the CFTC and the Securities and Exchange...

DLA Piper: CFTC Issues Two Proposals Affecting Those Engaging In Swaps Activities

The Commodity Futures Trading Commission has unanimously voted by seriatim (without a meeting) to issue two proposals which will affect "U.S. persons" who engage in swaps activities. The proposals address the hotly debated application of Dodd-Frank outside US soil, commonly referred to as "extraterritoriality"...

CFTC Fiscal 2013: Significant Cases, Increasing Criminalization

The CFTC stepped up its enforcement activity in fiscal 2013, bringing a number of significant actions, according to a recent report by the agency. Last year the trading Commission filed 82 enforcement actions while opening 290 new investigations. Over the past three years the agency brought 282 enforcement...