News Centre

Nadex Refrains From Listing Certain Contracts

Date 16/10/2020

Due to activity in the underlying markets upon which the Nadex contracts are based and pursuant to the authority granted in Nadex Rule 12.1(i), Nadex took the following actions: 

• No EUR/JPY or USD/CAD 5-Minute contracts were listed for the 6:05pm or 6:10pm ET expiration times on trade date October 12, 2020.

• No GBP/JPY 5-Minute contracts were listed for the 6:05pm through 6:20pm ET expiration time on trade date October 14, 2020.

SEC And CFTC To Hold A Joint Open Meeting On October 22

Date 15/10/2020

The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission today announced their agencies will hold a joint open meeting on Thursday, Oct. 22, 2020, at 10:00 a.m. (EDT). The meeting will be held virtually.

Statement Of Dissent Of CFTC Commissioner Rostin Behnam Regarding Position Limits For Derivatives

Date 15/10/2020

Introduction

The last time we gathered as a Commission to discuss position limits I used some of my time to speak a bit about the award winning movie, Ford v Ferrari.  At that point, we were nearing the airing of the 92nd Academy Awards and this action-packed drama had earned four nominations—not to mention the distinction of being one of the few films I actually saw in a theater.  For those of you who have not found it in one of your quarantine movie queues, Ford v Ferrari tells the true story of American car designer Carroll Shelby and British-born driver Ken Miles who built a race car for Ford Motor Company—the GT40—and competed with Enzo Ferrari’s dominating, iconic red racing cars at the 1966 24 Hours of Le Mans.  I used the film and racing metaphors throughout my speaking and written statements to highlight serious concerns that the proposed amendments to the CFTC rules addressing position limits (the Proposal) signified yet one more instance where the Commission seemed to be comfortable with deferring core, congressionally mandated duties to others and calling it a victory.

SEC Charges Andeavor For Inadequate Controls Around Authorization Of Stock Buyback Plan - Company To Pay $20 Million Penalty

Date 15/10/2020

The Securities and Exchange Commission today announced settled charges against Andeavor LLC for controls violations relating to a stock buyback plan it implemented while it was in discussions to be acquired by Marathon Petroleum Corp. in 2018. Andeavor agreed to pay a $20 million penalty to settle the charges.

Statement Of CFTC Commissioner Dawn D. Stump Regarding Final Rule: Position Limits For Derivatives

Date 15/10/2020

Overview

With all that has transpired in our country and in our lives this year, it feels like ages ago that we gathered together in person to consider proposing amendments to update the Commission’s rules regarding position limits back at the end of January.  At the time, I said that there were three guideposts by which I would evaluate that proposal: First, is it reasonable in design?  Second, is it balanced in approach?  And third, is it workable in practice for both market participants and for the Commission?

Modernizing And Strengthening CRA Regulations: A Conversation With Minority Depository Institutions, Federal Reserve Governor Lael Brainard To The National Bankers Association (Via Webcast)

Date 15/10/2020

I want to thank Kim Saunders and Kenneth Kelly for inviting me to join members of the National Bankers Association (NBA) for a conversation today.

Statement Of CFTC Commissioner Dan M. Berkovitz Regarding Final Rule To Amend Exemptions For Foreign Persons Acting As Commodity Pool Operators Of Offshore Commodity Pools

Date 15/10/2020

I am voting for the final rule amending regulation 3.10(c) (Final Rule).  Regulation 3.10(c) provides an exemption from registration to foreign persons who operate commodity pools (CPO) located outside of the United States.  The Final Rule makes pragmatic adjustments to certain conditions for claiming the exemption that will allow the Commission to focus its limited resources on protecting U.S. persons who participate in commodity pools, rather than on commodity pools operated outside the U.S. in which non-U.S. persons participate.

Office Of The Comptroller Of The Currency - Regulatory Capital Rule: Temporary Changes To And Transition For The Community Bank Leverage Ratio Framework

Date 15/10/2020

Summary

The Office of the Comptroller of the Currency (OCC), along with the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation (collectively, the agencies), published a final rule in the Federal Register on October 9, 2020, that adopts without change two interim final rules: “Temporary Changes to the Community Bank Leverage Ratio Framework” and “Transition for the Community Bank Leverage Ratio Framework.”

Opening Statement Of CFTC Commissioner Rostin Behnam Before The Meeting Of The Commodity Futures Trading Commission

Date 15/10/2020

The last time we gathered as a Commission to discuss position limits I used some of my time to speak a bit about the award winning movie, Ford v Ferrari.  At that point, we were nearing the airing of the 92nd Academy Awards and this action-packed drama had earned four nominations—not to mention the distinction of being one of the few films I actually saw in a theater.  For those of you who have not found it in one of your quarantine movie queues, Ford v Ferrari tells the true story of American car designer Carroll Shelby and British-born driver Ken Miles who built a race car for Ford Motor Company—the GT40—and competed with Enzo Ferrari’s dominating, iconic red racing cars at the 1966 24 Hours of Le Mans.  I used the film and racing metaphors throughout my speaking and written statements to highlight serious concerns that the proposed amendments to the CFTC rules addressing position limits (the Proposal) signified yet one more instance where the Commission seemed to be comfortable with deferring core, congressionally mandated duties to others and calling it a victory.

Superintendent Lacewell Announces New York State Department Of Financial Services To Host First-Ever Techsprint To Advance The Department’s Regulator Of The Future Vision - Digital Regulatory Reporting For Virtual Currency Companies Selected As Focus For Techsprint - DFS Will Collaborate With The Conference Of State Bank Supervisors And Alliance For Innovative Regulation To Produce Techsprint

Date 15/10/2020

Superintendent of Financial Services Linda A. Lacewell today announced DFS’ first-ever techsprint, an initiative to convene regulators and industry stakeholders to work towards a common goal of Digital Regulatory Reporting (DRR), which aims to give regulators instant access to data provided by firms under their supervision.  This effort comes in the context of a trend by global financial regulators to employ techsprints as a mechanism to rapidly prototype technology solutions to key supervisory problems.