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Cftc

Acting Chairman Giancarlo Sets New KISS Agenda For CFTC

J. Christopher Giancarlo, Acting Chairman of the Commodity Futures Trading Commission (CFTC), will be nominated to serve as chairman, the White House said Tuesday, and he quickly laid out his plans for a “new agenda” at the regulatory agency.

March 16, 2017

People — J. Christopher Giancarlo

Within minutes of President Trump taking the oath of office Friday, the Commodity Futures Trading Commission (CFTC) announced that Commissioner J. Christopher Giancarlo had been designated as acting chairman of the regulatory agency. Giancarlo succeeded Timothy Massad, who earlier this monthtendered his resignation to then-President Obama, effective Jan. 20. At the time, CFTC said Massad would remain a commissioner at CFTC “for a few weeks in order to close out his office and handle administrative matters.” Giancarlo, a Republican and frequent critic of CFTC decisions under Massad, was a brokerage firm executive before being appointed to CFTC in 2014. Massad’s resignation will leave only two commissioners at CFTC — Giancarlo and Sharon Bowen, a Democrat confirmed in 2014 — which could create a logjam, since there would not be enough commissioners to constitute a quorum. There can be as many as five CFTC commissioners, with no more than three from any political party serving simultaneously, so — assuming Giancarlo and Bowen stay on board — Trump could nominate as many as two more Republicans and one Democrat to fill the vacant seats.

January 20, 2017

People — J. Christopher Giancarlo

Within minutes of President Trump taking the oath of office Friday, the Commodity Futures Trading Commission (CFTC) announced that Commissioner J. Christopher Giancarlo had been designated as acting chairman of the regulatory agency. Giancarlo succeeded Timothy Massad, who earlier this monthtendered his resignation to then-President Obama, effective Jan. 20. At the time, CFTC said Massad would remain a commissioner at CFTC “for a few weeks in order to close out his office and handle administrative matters.” Giancarlo, a Republican and frequent critic of CFTC decisions under Massad, was a brokerage firm executive before being appointed to CFTC in 2014. Massad’s resignation will leave only two commissioners at CFTC — Giancarlo and Sharon Bowen, a Democrat confirmed in 2014 — which could create a logjam, since there would not be enough commissioners to constitute a quorum. There can be as many as five CFTC commissioners, with no more than three from any political party serving simultaneously, so — assuming Giancarlo and Bowen stay on board — Trump could nominate as many as two more Republicans and one Democrat to fill the vacant seats.

January 20, 2017

House Passes CFTC Reauthorization Bill With Amendment Making Position Limits Optional

Shortly before passing a bill to reauthorize the Commodity Futures Trading Commission (CFTC) for the next five years, House lawmakers, along mostly partisan lines, agreed Thursday to a controversial amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act that makes optional any federal position limits on commodity market derivatives.

January 13, 2017

CFTC Chairman Massad Resigns Effective Jan. 20

U.S. Commodity and Futures Trading Commission (CFTC) Chairman Timothy Massad on Tuesday tendered his resignation to President Obama, effective Jan. 20 — the same day that Donald Trump, who has indicated he will dismantle many of the regulations implemented during Massad’s tenure, is to be inaugurated.

January 4, 2017

Trio of Senate Democrats Criticize CFTC’s Position Limits Delay

A trio of powerful Democratic senators criticized the Commodity Futures Trading Commission’s (CFTC) recent decision to repropose regulations implementing limits on speculative futures and swaps positions as called for in the Dodd-Frank Wall Street Reform and Consumer Protection Act.

December 14, 2016

CFTC Reproposes Position Limits, Adopts Aggregation Regulations

With the Obama-to-Trump transition and the expected change in attitude toward regulations that will come with it less than seven weeks away, the Commodity Futures Trading Commission (CFTC) on Monday voted unanimously to repropose regulations implementing limits on speculative futures and swaps positions as called for in the Dodd-Frank Wall Street Reform and Consumer Protection Act, and approved final aggregation regulations, which are a key component of the agency’s position limits regime.

December 5, 2016

Texas Court Throws Total’s Market Manipulation Charges Back Into FERC Bailiwick

Total Gas & Power North America Inc.’s (TGPNA) efforts to move its defense against FERC enforcement staff allegations of three years of natural gas trading manipulation from the regulatory agency to a federal district court were hamstrung Friday when the court tossed out that request.

July 18, 2016

NGSA Urges Changes to CFTC’s Supplemental Position Limits Rule

The Natural Gas Supply Association (NGSA) has recommended that the Commodity Futures Trading Commission (CFTC) tweak a proposed supplement to its position limits rule, after identifying three specific areas of concern.

July 13, 2016

CFTC Orders Barclays to Pay $560K Penalty for Inaccurate Large Trader Reports

The U.S. Commodity Futures Trading Commission (CFTC) has ordered Barclays Bank plc to pay a $560,000 civil penalty for failing to submit accurate large trader reports (LTR) for physical commodity swap positions, including transactions involving natural gas and crude oil.

July 6, 2016