Topic
Hedging
41 published works
Corporate and Securities Law
CFTC’s Massad on End-Users
Corporate and Securities Law
CFTC Finalizes Rule to Exclude Swaps with Municipal Utilities From $25 Million De Minimis Swap Dealer Threshold
International Financial Law Prof Blog
This Week: Financial Articles – 5 selected by the editors
1. There Is No Spoon: Reconsidering the Tax Compliance Puzzle, J. T. Manhire (Treasury Executive Institute - U.S. Department of the Treasury), June 26, 2014 For over 40 years theorists have sought…
Energy and Utilities
Potential CFTC Regulatory Changes for Energy Market Participants Highlighted by Commissioner Scott O’Malia
At a recent speech at an energy industry conference CFTC Commissioner Scott D. O’Malia highlighted energy market participant concerns with the CFTC’s Dodd-Frank Rulemakings. These concerns indicate potential regulatory changes…
Securities Compliance Sentinel
What’s in a Name? Speculation, Hedging, They Are Not the Same Thing
Recently, in a settled SEC enforcement action, a mutual fund manager allegedly used an option strategy, but the SEC believed it was more speculative than hedging. See http://www.sec.gov/litigation/admin/2012/33-9377.pdf. The SEC…
SALT Shaker
Show Me the Money: Florida Issues TAA on Inclusion of Hedging Receipts in Sales Factor
Florida recently issued an unusual ruling that: Gross receipts from hedging transactions must be excluded from the sales factor, although Net receipts from output hedges are included, and Net receipts…
The Faculty Lounge
Putting the JP Morgan Loss In (Real) Perspective
Ever since JP Morgan’s announcement of a $2 billion loss on Thursday from what might or might not be a hedging transaction, advocates for financial reform have used the news…
The Faculty Lounge
Quacking Like A Prop Trade
So, I’ve finally gotten out from behind the wheel of a car long enough to post something a bit meatier on the JP Morgan Whale Fail. As I predicted in…
The Faculty Lounge
JP Morgan’s Whale
This will have to be a quick one today, but JP Morgan’s “whale fail” is going to make for some interesting news over the coming weeks. The timing couldn’t be…
Energy Business Law
Electricity Industry May Escape Regulation Under New Swaps Rule
by Ari Peskoe In a joint-rulemaking finalized last month, the Commodities Future Trading Commission (CFTC) and the Securities Exchange Commission (SEC) declined to adopt specific exemptions for the electricity industry…