CFTC Press Release 6157-11 The CFTC will hold a public meeting on Tuesday, December 20, 2011., on the following topics: (1) Final Rule on Real-Time Reporting of Swap Transaction Data; (2) Final Rule on Swap Data Recordkeeping and Reporting Requirements; and (3) Final Rule on Effective Date for Swap Regulation.
News & Insights
Trustee's Memorandum Regarding Legal Principles and Framework for the Claims Process The Trustee's memorandum to the Bankruptcy Court discusses the determination and allocation of customer property for claims by MF Global's commodity customers. Cross References: CEA Section 4d; CFTC Rules 30.7 Part 190; Lofchie's Guide to CPO/CTA Regulation: Chapter 12, Insolvency.
76 FR 77670 The CFTC is issuing this interpretation of the term "actual delivery" as set forth in section 2(c)(2)(D)(ii)(III)(aa) of the CEA, which subjects "retail commodity transactions" (leveraged transactions involving commodities other than foreign currency where such transactions do not result in actual delivery within 28 days or create an enforceable obligation to deliver) to the CEA. The CFTC also seeks public comment on whether its interpretation of "actual delivery" accurately construes statutory language. Cross References: Dodd-Frank Section 742(a); CEA Section 2(c)(2)(D)(ii)(III)
Speech by CFTC Commissioner O'Malia CFTC Commissioner discusses a wide range of topics including the end-user exemption , the swap dealer definition (which he characterizes as overly broad in contrast with the de minimus exemption which is too narrow), capital and margin, DCM rulemaking; mandatory trade data reporting, position limits (bona fide hedge is defined "too narrowly," and aggregation rules are "too complex"), and MF Global.
Testimony of NFA President Daniel J. Roth NFA head Dan Roth testifying before the House Agriculture Committee outlines possible regulatory changes that need to be considered in light of the MF Global insolvency. Cross References: CEA Section 4d; CFTC Rules Part 190; Lofchie's Guide to CPO/CTA Regulation: Chapter 12, Insolvency.