Commodity Futures Trading Commission (CFTC)
Shell unit seeks to register as swap dealer
Shell becomes second energy company to seek swap dealer status under Dodd-Frank
Leveraged ETFs under the spotlight
Imperfect storm
Asic hopeful of receiving substituted compliance from CFTC
Australian securities regulator positive about receiving US approval for the domestic regulatory regime
SEC at odds with Finra over Pip data
Agree to disagree
Another $100m fine for JP Morgan over London Whale market manipulation
Attempts to "defend" CDS positions broke the law, CFTC rules
Yellen nominated for Federal Reserve chair, and other recent job moves
Changing hats – November 2013
Sefs, shutdowns and no-action confusion
The new Sef trading regime came into force on October 2, but a flurry of last-minute no-action letters has left platforms confused – and there is no one at the CFTC to answer their questions. Peter Madigan reports
Dodd-Frank commodity option rules sow confusion among energy firms
Confusion over CFTC rules is tying US energy firms in knots, as they struggle to determine whether their physically settled commodity options need to comply with critical rules issued under the US Dodd-Frank Act. Alexander Osipovich reports
Asic temporarily exempts Australian banks from non-CFTC trade reporting requirements
Australian industry needs additional time to set up trade reporting infrastructure
CFTC substituted compliance process not clear enough – Risk.net poll
The majority of respondents to a Risk.net poll say they do not understand how CFTC substituted compliance determinations will be made
CFTC shutdown leaves Sefs lacking clarity
Sefs and their clients question scope of no-action letters, but US government shutdown means no-one is able to provide guidance
CFTC relief welcomed but concerns remain as Sef rules begin
A string of no-action relief letters issued ahead of today's deadline have been welcomed, but some participants believe they still don't go far enough
Options platforms will miss Sef application deadline
Digital Vega and SurfacExchange do not expect to meet the CFTC's October 2 deadline to register as Sefs
Cross-border stricter-rule-applies approach causing confusion
Global regulators have agreed to cooperate when implementing new derivatives rules on a cross-border basis, but market participants are unsure as to how this will work in practice
More co-operation needed to avoid footnote 88 fallout
More regulatory co-operation is needed to ensure footnote 88 doesn’t hurt liquidity inside and outside the US
Sefs: Ready or not, here they come
Ready or not, here they come
Officials blindsided by CFTC's Sef footnote 88, says Ferber
Senior MEP says officials from US and Europe only recognised dangers of Sef rules footnote in recent weeks
Icap fined $87.4m for Libor manipulation as brokers charged
CFTC and FCA impose fines of $65 million and £14 million
JP Morgan fined $920m over 'woefully deficient' London Whale controls
UK and US authorities fine bank over $6.2 billion trading losses in July 2012
First substituted compliance determinations by year-end, says Gensler
CFTC chairman confident that first entity-level determinations will be complete by December 21, but is less certain about transaction-level requirements
Gensler not ruling out targeted Sef relief
CFTC chairman recognises difficulty in meeting October 2 Sef deadline, but says platforms need to be targeted in requests
Non-US clients shun US bank foreign branches
Non-US customers are refusing to trade with foreign branches of US banks ahead of an October 9 clearing deadline. Uncertainty over whether these entities are ‘bona fide’ foreign branches has added to the problems
CFTC appoints director of market oversight division
Vincent McGonagle to replace acting director Richard Shilts
Sefs questioned on plans for erroneous trades
Swap execution facilities have been rushing to meet an October 2 deadline for registration, but more thought is needed on how platforms will deal with trade failures, say conference participants