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  • CFTC’s Agricultural Advisory Committee To Meet April 11 In Overland Park, KS

    Date 26/03/2019

    The Commodity Futures Trading Commission’s (CFTC) Agricultural Advisory Committee (AAC) announced today that it will hold a public meeting on April 11, 2019 in Overland Park, Kansas. This meeting precedes AgCon2019, the second agriculture commodity futures conference hosted by CFTC and the Center for Risk Management Education and Research at Kansas State University (see CFTC Press Release 7885-19).

  • EEX Welcomes Adoption Of The Clean Energy Package: Strong Support For Markets And Renewables Integration

    Date 26/03/2019

    The European Energy Exchange (EEX) welcomes the adoption of the Electricity Directive and Regulation by the European Parliament. This is a milestone which finalises the ‘Clean Energy Package’ (CEP). The CEP sets the cornerstone for the further development of a market-based energy system with an increasing share of renewables in Europe in the coming decade. Following this route provides a basis for Europe to deliver on its climate and energy policy targets at the lowest cost, and making it possible to find the best solutions to the broader mega trends of decentralisation, decarbonisation and digitalisation.

  • Dissenting Statement Of CFTC Commissioner Rostin Behnam On De Minimis Exception To The Swap Dealer Definition - Swaps Entered Into By Insured Depository Institutions In Connection With Loans To Customers

    Date 26/03/2019

    Introduction

    I respectfully dissent from the Commodity Futures Trading Commission’s (the “Commission” or “CFTC”) decision today regarding the application of the swap dealer definition to insured depository institutions (“IDIs”).  The Commission’s eagerness to bypass clear Congressional intent in order to address longstanding concerns with the original implementation of the statutory exclusion from the swap dealer definition for IDIs, only to the extent they offer to enter swaps transactions in connection with originating customer loans (the “IDI Swap Dealing Exclusion”), creates risks and uncertainties that may harm the very financial institutions that the new rule purports to help.  By exercising its De Minimis Exception Authority to create as a “factor” whether a given swap has specified characteristics of swaps entered into by IDIs in connection with customer loans, the Commission is creating a new regulatory exemption that intentionally and entirely subsumes the IDI Swap Dealing Exclusion in defiance of conferred regulatory authority.  Moreover, not only does this novel exercise in agency discretion undermine the swap dealer definition, but it exemplifies the current Commission’s rush to implement sweeping changes to the regulation of swap dealers without regard for the long term consequences of its capricious interpretation of the law and arbitrary analysis of risk.

  • Europex Welcomes Strengthened Role For Long- And Short- Term Markets Under New EU Electricity Market Design Rules

    Date 26/03/2019

    Europex, the Association of European Energy Exchanges, welcomes today’s adoption of the four remaining files of the Clean Energy for All Europeans package by the plenary of the European Parliament. These concern the recast Electricity Regulation and Directive, the Regulation on risk-preparedness in the electricity sector and the recast ACER Regulation. This new framework represents significant progress towards the further integration of the EU Internal Energy Market.

  • The World Federation Of Exchanges Responds To FSB’s Consultation On SME Financing

    Date 26/03/2019

    The World Federation of Exchanges (“WFE”), the global industry group for exchanges and CCPs, has responded to the Financial Stability Board’s (FSB) consultation on the effects of financial regulatory reforms on the provision of financing to small and medium-sized enterprises (SMEs).