Corporate & Financial Weekly Digest

Corporate & Financial Weekly Digest

Fred M. Santo

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NFA Adopts Requirements for FCMs, IBs, CPOs and CTAs Dealing in Swaps

Posted in CFTC, Dodd-Frank Developments
Co-authored by Marilyn Selby Okoshi and Christian B. Hennion. On October 3, the National Futures Association (NFA) announced that recent amendments to NFA Bylaw 301, relating to approval requirements for “swaps firms” and “swaps APs,” will take effect on January 1, 2013. Under the amended bylaw, any NFA member that is registered with the Commodity… Continue Reading

NFA Provides Relief from Proficiency Exam Requirements for Certain CPOs, CTAs and Other Swaps Firms

Posted in CFTC, Dodd-Frank Developments
Co-authored by Marilyn Selby Okoshi and Christian B. Hennion. Effective October 3, the National Futures Association (NFA) has amended its registration rules 401 and 402 to exempt associated persons (APs) of NFA member futures commission merchants, introducing brokers, commodity pool operators (CPOs) and commodity trading advisors from the NFA proficiency (Series 3 examination) requirements if… Continue Reading

ESMA Issues Draft Advice on Possible AIFMD Implementing Measures in Relation to Supervision and Third Countries

Posted in EU Developments
On August 23, the European Securities and Markets Authority (ESMA) published consultation paper ESMA/2011/270 (Consultation on ESMA’s draft technical advice to the European Commission on possible implementing measures of the Alternative Investment Fund Managers Directive in relation to supervision and third countries.)… Continue Reading

European Regulators Impose Short Sale Bans

Posted in EU Developments
On August 11, the financial regulators in Belgium, France, Italy and Spain introduced short selling restrictions on shares of certain named financial institutions and derivatives (e.g., futures) linked to those securities. The restrictions also extend to stock indices of which those securities are components. The Belgian restrictions apply indefinitely. The three other countries’ restrictions will… Continue Reading