On August 24, the Commodity Futures Trading Commission added 22 unregistered foreign entities to its Registration Deficient List (RED List). A firm is added to the RED List when the CFTC determines that such firm (1) is not registered with the CFTC; and (2) appears to be acting in a capacity that requires registration, such

On June 25, the five regulators responsible for Section 13 of the Bank Holding Company Act of 1956 (Volcker Rule) approved a set of amendments that modify and clarify the covered fund provisions of the regulations implementing the Volcker Rule. (The five regulators are the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, the Commodity Futures Trading Commission, and the Securities and Exchange Commission.) The final amendments are generally the same as those proposed in January of this year.
Continue Reading Volcker Rule Regulators Make Changes to Covered Fund Rules

On January 30, the Securities and Exchange Commission voted to propose amendments to certain financial disclosure requirements in Regulation S-K, in an effort to modernize and simplify such requirements. The SEC also issued new guidance relating to key performance indicators and metrics.

The SEC has proposed the following amendments and guidance to Regulation S-K:
Continue Reading SEC Proposes Amendments to Financial Disclosure in Regulation S-K and Issues New Guidance

On August 8, the Commodity Futures Trading Commission announced that it has proposed rules pursuant to which a clearing organization located outside of the United States may obtain an exemption from registration as a derivatives clearing organization (DCO) in order to provide swaps clearing services to certain US persons. The proposed rules codify the CFTC’s existing policies and procedures for granting such exemptions. To date, the CFTC has exempted four non-US clearing organizations from registration: ASX Clear (Futures) Pty Limited, Japan Securities Clearing Corporation, Korea Exchange, Inc., and OTC Clearing Hong Kong.
Continue Reading CFTC Proposes Rules to Simplify Process for Foreign Clearing Organizations to Obtain DCO Registration Exemptions

On July 27, the Commodity Futures Trading Commission announced proposed rules to amend current exemptions from CFTC registration for futures commission merchants (FCMs), introducing brokers (IBs), commodity trading advisers (CTAs) and commodity pool operators (CPOs) in connection with commodity interest transactions solely on behalf of persons outside the United States or certain international financial institutions (IFIs). The proposed rules will codify past no-action relief.
Continue Reading CFTC Proposes To Amend Exemption From Registration for Certain Foreign Persons