This week, the CFTC approved a NFA Interpretative Notice that prohibits a Member from accepting credit card payments from customers to fund retail forex accounts. The NFA recently reviewed how
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CFTC Compliance
Suspicious Activity Reports, FCMs and IBs, Is That A Marriage Made In Heaven
By Joshua Horn on
Suspicious Activity Reports (SARs) have been a useful tool for financial institutions to report financial fraud while, at the same time, prohibiting the reporting institution from disclosing the existence of …
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NFA Studies Insuring Customer Segregated Accounts
By Amit Shah on
In the wake of several high profile failures of futures market participants, the NFA and others recently completed a study of how customer asset protection insurance (“CAPI”) would work in…
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CFTC Delays Vote On Swap Platforms
By Amit Shah on
In another example of regulators struggling with the general mandates of the Dodd-Frank Act, the CFTC was forced to delay a vote on establishing trading platforms for swaps. The new…
Energy Executives Convicted Of Sending False Reports To Industry Newsletters
By Amit Shah on
Its not often I write about criminal cases but this is one that all executives in the commodities industry need to know about. In Brooks v. United States, 681…
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NFA Relaxes Certain Member Policing Requirements – For Now
By Amit Shah on
The NFA recently announced that it would provide a limited time relief to Bylaw 1101’s prohibition for members transacting business with unregistered persons. NFA Bylaw 1101 prohibits an NFA…
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Certain FCMs Will Soon Be Required To Have Chief Compliance Officers
By Amit Shah on
By October 1, 2012, FCMs that are regulated by a U.S. prudential regulator or are also registrants of the SEC must have a designated Chief Compliance Officer under CFTC Regulation…
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NFA Issues Guidance to CPOs Regarding Exemptions Under Regulation 4.13(a)(4)
By Amit Shah on
As we previously reported, the CFTC issued new regulations eliminating the exemption from registration available to CPOs that offered funds solely to sophisticated investors pursuant to Regulation 4.13(a)(4). For more…
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Volcker Rule Conformance Period Clarified
By Amit Shah on
The Board of Governors of the Federal Reserve, the SEC and the CFTC jointly confirmed recently that entities subject to the Volcker Rule would the have the full two year…
Special Committee Announces Recommendations Regarding Segregated Funds
By Amit Shah on
A special committee of representatives from the futures industry’s SROs proposed a series of recommendations for changes to SRO rules and regulatory practices. The recommendations include:
- Requiring all FCMs to file
…
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