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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...

14 Firms Sued By CFTC For Foreign Currency Trading

WASHINGTON, D.C. - (AP) Federal regulators have filed suit against 14 small firms that officials say are breaking the law by selling foreign-currency contracts to individuals without being registered with a government agency. The lawsuits announced Wednesday were the first show of force by the Commodity...

CFTC Proposes Commodity Pool Regulation And Private Fund Dual Regulation

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...

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...

CFTC Rescinds a Popular Private Fund Manager Exemption

Excerpt: On February 8, 2012, the Commodity Futures Trading Commission ("CFTC" or "Commission") issued final regulations that repeal the commodity pool operator ("CPO") registration exemption widely used by the operators of private funds offered only to highly sophisticated...

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"...

UBS To Pay $1.5 Billion To Settle Allegations Of Bid Rigging

WASHINGTON, D.C. — (Mealey's) Swiss Bank UBS AG has agreed to pay $1.5 billion to U.S., U.K. and Swiss authorities to settle allegations that it was involved in rigging the London Interbank Offered Rate (LIBOR), and UBS unit UBS Securities Japan Co. Ltd. (UBS Japan) has agreed to plead guilty...

Cadwalader Clients & Friends Memo: FERC and CFTC Reach Agreement on Information Sharing and Jurisdiction

After a fair amount of back-channel arm-twisting, the two agencies with principal (and sometimes overlapping) jurisdiction over energy commodities have reached agreement on two memoranda of understanding (“ MOUs ”) required by the Dodd-Frank Act. On January 2, 2014, the Federal Energy Regulatory...