Elise W. Michael

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On May 26, Commodity Futures Trading Commission’s Market Participants Division (MPD) published updated responses to frequently asked questions regarding CFTC Regulation 4.27 and Form CPO-PQR (FAQs). These FAQs update the 2015 FAQs that addressed issues on Form CPO-PQR from filing mechanics and deadlines to more technical questions.
Continue Reading CFTC Staff Publishes Updated Responses to FAQs Regarding Commission Regulation 4.27 and Form CPO-PQR

On May 24, the National Futures Association (NFA) issued Notice to Members 1-21-16, announcing the effective date for NFA Member swap dealer and major swap participant dues increases.

NFA Bylaw 1301 imposes annual dues on NFA Member swap dealers (SD) and major swap participants (MSP). The current annual dues amounts have remained unchanged, except for a reduction in MSP annual dues, since NFA established its swap regulatory program in 2013. Given the expansion of NFA’s swaps regulatory program over the past eight years and to fund its operations and maintain adequate reserves, NFA’s Board of Directors, on May 20, unanimously approved the following increases to these annual dues amounts:…
Continue Reading Effective Date for NFA Member Swap Dealer and Major Swap Participant Dues Increases

On April 19, the Securities and Exchange Commission announced the appointments of SEC Chair Gary Gensler’s senior staff, who will be responsible for advising Gensler on matters before the SEC. Prashant Yerramalli, appointed as SEC’s Chief of Staff, will continue to serve the role, which he has held since January under Acting Chair Allison Herren…

On April 22, the Securities and Exchange Commission announced the appointment of Alex Oh as Director of the Division of Enforcement. Earlier in her career, Oh was an Assistant US Attorney in the Criminal Division of the US Attorney’s Office for the Southern District of New York, where she was a member of the Securities…

On April 21, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 21-16 (Notice) to remind member firms about requirements when using predispute arbitration agreements for customer accounts.
Continue Reading FINRA Reminds Members About Requirements When Using Predispute Arbitration Agreements for Customer Accounts

On March 22, the Securities and Exchange Commission launched a new page on its website to bring together agency actions and the latest information about climate and environmental, social and governance (ESG) investing.
Continue Reading SEC Responds to Investor Demand by Bringing Together Agency Information About Climate and ESG Issues

On March 14, the Financial Industry Regulatory Authority (FINRA) published Regulatory Notice 21-11 (Notice), which seeks comment on proposed amendments to Rule 4210 (Margin Requirements) that would clarify and incorporate into the rule current interpretations regarding when issued and other extended settlement transactions and provide relief to facilitate the application of the rule to these transactions. Comments must be received by May 14.
Continue Reading FINRA Requests Comment on Proposed Amendments to Margin Rule 4210