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On March 6, 2019, the U.S. Commodity Futures Trading Commission’s (the “Commission” or “CFTC”) Enforcement Division published an advisory (the “Advisory”) which discussed the implications of self-reporting and cooperation for violations of the Commodity Exchange Act (“CEA”) that involve foreign corrupt practices. The Advisory marks the first time the CFTC has expressed its intention to investigate the use of derivatives involving foreign corrupt practices and is also indicative of regulators’ realization that in the 21st…
The Commodity Futures Trading Commission (“CFTC”) held a public meeting of the Technology Advisory Committee (“TAC”) on March 27, 2019.  The TAC is sponsored by CFTC Commissioner Brian Quintenz and Daniel Gorfine, Director of LabCFTC, is the Designated Federal Officer.  The TAC, comprised of industry business, technology, and legal minds, meets periodically to discuss pressing technology-related issues affecting the commodity and derivative markets and regulation. This meeting of the TAC consisted of four panels focusing…
The U.S. Commodity Futures Trading Commission is undergoing a transformation with the new Trump administration while staying on course with its statutory mission of protecting US commodities and derivatives markets.  Some of CFTC’s priorities under new Republican Administration will certainly change as articulated by the new Congress, several executive orders from the White House, and the recent statements of Acting Chairman Giancarlo.  However, it is likely that we will see in 2017 a combination of…
U.S. Commodity Futures Trading Commission (“CFTC”) shook things up in 2016 with new theories and fresh interpretations of the law.  Along with this came hefty fines reaching up to $1.2 billion in total.  CFTC wasn’t the only regulatory group handing out large fines but the National Futures Association (“NFA”) also collected around $700,000.  Between the quick enforcement and diverse violations in 2016, it is more important than ever to be in compliance.  To read more…