Category Archives: Commodity Trading

CFTC Approves Supplemental Proposal for Proposed Regulation AT

By: Athena Eastwood, Anthony Mansfield, Paul Pantano, Neal Kumar, Natalie Mitchell and Lamiya Rahman On November 4, 2016, the Commodity Futures Trading Commission (“CFTC” or the “Commission”) approved, by a 2 – 1 vote, a supplemental proposal (“Reg AT Supplemental Proposal”) that amends a 2015 proposed … Continue reading

Posted in CFTC, Commodity Trading

Not Your Grandmother’s Form 40

By Athena Eastwood, Anthony Mansfield, Paul Pantano, Neal Kumar and Natalie Mitchell A common tool that the Commodity Futures Trading Commission (“CFTC” or the “Commission”) relies upon to conduct market surveillance, including monitoring compliance with position limits, will soon enter the digital age – the … Continue reading

Posted in CFTC, Commodity Trading, Enforcement and Investigations, Mining/Metals, Oil & Gas, Regulation

Supreme Court Justices Appear Hesitant to Narrow the Scope of Insider Trading Liability

Since the Second Circuit Court of Appeals’ December 2014 decision in United States v. Newman, the government’s ability to aggressively pursue insider trading cases involving tipping has been in doubt.  But, on October 5, the Supreme Court heard oral arguments in Salman … Continue reading

Posted in Cases, Commodity Trading, LNG, Mining/Metals, Oil & Gas, Power

CFTC Issues Fourth Penalty for Inaccurate Large Trader Reporting of Swaps

By Anthony Mansfield, Paul Pantano, Jonathan Flynn and Natalie Mitchell On September 27, 2016, the U.S. Commodity Futures Trading Commission (“CFTC” or the “Commission”) issued a fourth penalty for violations of its Swaps Large Trader Reporting (“Swaps LTR”) rule.  This time, the penalty was … Continue reading

Posted in CFTC, Commodity Trading, Regulation

CFTC Staff Issues Final Swap Dealer De Minimis Exception Report

By Athena Eastwood, Anthony Mansfield, Paul Pantano and Neal Kumar On August 15, 2016, Staff of the U.S. Commodity Futures Trading Commission (“CFTC”) published a final report regarding the de minimis exception from swap dealer registration (“Staff De Minimis Report”).  The Staff De Minimis … Continue reading

Posted in Commodity Trading, Mining/Metals, Oil & Gas, Power, Regulation

CFTC Issues $560,000 Penalty for Inaccurate Large Trader Reporting of Swaps

By Anthony Mansfield, Jonathan Flynn, Neal Kumar and Michael Selig On July 6, 2016, the Commodity Futures Trading Commission (“CFTC” or the “Commission”) fined Barclays Bank PLC (“Barclays”) $560,000 for inaccurate large trader reporting of swaps positions.  This is the third and largest civil … Continue reading

Posted in CFTC, Commodity Trading, Enforcement and Investigations, Regulation

CFTC Holds Roundtable to Consider Proposed Regulation AT

By Gregory Mocek, Paul Pantano, Neal Kumar, Michael Selig, and Mary Treanor On June 10, 2016, Staff for the Commodity Futures Trading Commission (“CFTC”) held a public roundtable to discuss its proposed Regulation Automated Trading (“Regulation AT”).  The CFTC proposed Regulation AT in an attempt … Continue reading

Posted in CFTC, Commodity Trading, Enforcement and Investigations, Mining/Metals, Oil & Gas, Power, Regulation

Traders and Compliance Professionals Take Note: Phase One of New BIS “Global Code” Establishes “Best Practices” in the Foreign Exchange Markets

By Anthony Mansfield, Gregory Mocek, Jonathan Flynn, and Jorge Pesok On May 26, 2016, the Foreign Exchange Working Group (“FXWG”) of the Bank for International Settlements (“BIS”) published the first phase of a new “Global Code of Conduct for the Foreign Exchange Market” (“Global … Continue reading

Posted in Commodity Trading, Regulation

CFTC Unanimously Approves Supplemental Proposal on Position Limits

By Anthony Mansfield, Paul Pantano, Jonathan Flynn, Neal Kumar and Michael Selig On May 26, 2016, the Commodity Futures Trading Commission (“CFTC”) unanimously approved a proposed supplement (“Supplemental Proposal”) to its December 2013 proposal to establish position limits on futures and economically equivalent swaps.  The … Continue reading

Posted in CFTC, Commodity Trading, Enforcement and Investigations, Oil & Gas, Power, Regulation

CFTC Proposes Amendment to RTO-ISO Order

By Athena Eastwood, Mark Haskell, Anthony Mansfield, Gregory Mocek, Paul Pantano, Brett Snyder, Jonathan Flynn, Christopher Hood, Neal Kumar, Thomas Millar, and Michael Selig On May 10, 2016, the Commodity Futures Trading Commission (“CFTC”) proposed an amendment (“Proposed Amendment”) to an order it issued on March 28, 2013 (“RTO-ISO Order”), exempting … Continue reading

Posted in CFTC, Commodity Trading, Enforcement and Investigations, FERC, Mining/Metals, Oil & Gas, Power, Regulation