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...
New Fund Manager Registration Requirement - under the Dodd-Frank Act, the previous exemption from registration for fund managers was eliminated. This generally means that hedge fund and private equity fund managers will be required to register as investment advisers with the SEC. Recently the SEC has...
by Jamie Cain
In a speech (a copy of which can be found here ) at
the recent Futures Industry Association (FIA) conference held in Boca Raton,
Florida, earlier this week, Commodity Futures Trading Commission (CFTC)
Chairman Gary Gensler laid out his new "best case" plan for proposing the...
Ramirez and Jamie Cain
Last week the Commodity Futures Trading Commission
("CFTC") approved the issuance of a Proposed Amendment to a July 14, 2011,
Temporary Exemptive Relief Order (the "July 14 Order") that grants market
participants temporary exemptive relief from certain...
The Commodity Futures Trading Commission filed an
enforcement action against the Royal Bank of Canada alleging a years long,
riskless wash sale scheme conducted by a small group of RBC personnel to
generate certain lucrative Canadian tax benefits. The trades were not conducted
in an arms-length manner...
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...
WASHINGTON, D.C. - The U.S. Commodity Futures Trading Commission (CFTC) yesterday announced that it had filed and settled charges against Barclays PLC, Barclays Bank PLC and Barclays Capital Inc. (collectively, Barclays) over Barclays' attempted manipulation and issuance of false reports regarding...
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
The MF Global debacle is still unwinding. The question of using customer money which is supposed to be segregated for their protection remains a key issue. With no resolution near, the CFTC has another matter regarding a futures commission merchant and segregated funds.
This action involves Peregrine...
The Commission approved new rules regarding the much discussed consolidated audit trail this week while continuing to issue rules under Dodd-Frank. Now the exchanges and FINRA will be required to implement the provisions regarding the consolidated audit trail.
SEC enforcement brought actions centered...
by Andras P. Teleki
This EIA focuses on the SEC
version of the Red Flag Rules. The SEC version of the Red Flag Rules will be
known as Regulation S-ID and would be added after Regulations S-P and S-AM when
On March 6, 2012, the SEC and
CFTC jointly proposed rules (the "Proposal"...
In a no-action letter issued on October 12, 2012 (the
"No-Action Letter"), the Office of the General Counsel ("OGC") of the Commodity
Futures Trading Commission (the "CFTC") clarified a number of matters relating
to the parties and guarantors that will qualify for treatment...
by Lawrence B. Patent and Cary J. Meer
The Division of Swap Dealer and
Intermediary Oversight ("DSIO") of the Commodity Futures Trading
Commission ("CFTC") issued responses on August 14, 2012 to frequently
asked questions ("FAQs") submitted by several trade...