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Position Limits Rumors Become Reality: CFTC Adopts Final Position Limits Rule Under Dodd-Frank

On October 18, 2011, the Commodity Futures Trading Commission ("Commission") adopted, by a vote of 3 to 2, a final rule regarding position limits for certain physical commodity derivatives ("Final Rule") pursuant to the Commodity Exchange Act ("CEA"), as amended by the Dodd...

The CFTC’s No-Action Letter Relating to Eligible Contract Participants and Swap Guarantee Arrangements

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...

CFTC Staff Responds to FAQs Regarding Rescission/Modification of CPO/CTA Registration Exemptions

by Lawrence B. Patent and Cary J. Meer Excerpt: 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...

Ponzi Scheme Defendants Agree to Pay $55M in Investment Club Action

WEST PALM BEACH, Fla. - (Mealey's) A federal judge in Florida on April 24 signed consent orders in which defendants agreed to pay nearly $55 million to end a suit in which the U.S. Commodity Futures Trading Commission (CFTC) alleged that they orchestrated a $28 million Ponzi scheme to defraud...