Regulation AT has been proposed by the CFTC as an attempt to modernize the regulation of a rapidly evolving industry.
The Ninth Circuit recently became the first federal circuit court to expressly hold that the public disclosure of an SEC investigation can form the basis of a viable loss causation theory, if the defendant also made a subsequent corrective disclosure.
On December 16, 2015, the CFTC voted to adopt final rules that will establish minimum initial margin and variation margin requirements for uncleared swaps entered into by swap dealers and major swap participants that are not overseen by federal banking regulators (collectively, Swap Entities).
The U.S. Commodity Futures Trading Commission recently issued its largest ever whistleblower award—over $10 million—for information that led to a major CFTC enforcement action.
CFTC Proposes Algorithmic Trading Regulations for Proprietary
Traders, FCMs, and Exchanges
As a result of recent actions by the Securities and Exchange Commission (“SEC”) and its staff, registered broker-dealers, including over-the-counter (“OTC”) derivatives dealers, are now permitted to electronically file their annual and supplemental reports with the SEC through its Electronic Data Gathering, Analysis and Retrieval (“EDGAR”) system in lieu of filing the reports with the SEC in paper form.
Does the general federal statute of limitations apply to government enforcement actions seeking “disgorgement?” The SEC says no.
In a move designed to reduce market manipulation, the SEC approved a proposed FINRA rule on April 7, 2016, that would require algorithmic trading developers to register as securities traders.
The Securities and Exchange Commission (SEC) has issued its long-awaited guidance following the recent and well-publicized “distribution-in-guise” sweep examination.
The Business Lawyer
The U.S. Commodity Futures Trading Commission (CFTC) recently announced its first use of non-prosecution agreements – in connection with three Citigroup employees accused of utilizing spoofing strategies.
On March 27, the U.S. Supreme Court granted a petition for certiorari to decide whether a public reporting company can be held liable for damages under Rule 10b-5 of the Securities Exchange Act of 1934 for failure to include a disclosure mandated by an SEC rule.