Cftc

The Commodity Futures Trading Commission (CFTC) has taken action on three issues that Chairman Mark Wetjen said will have a lasting impact on energy-end users that may have fallen victim to “negative, unintended consequences” of the Dodd Frank Financial Reform Act.

A swap product definition rule approved nearly two years ago by the Commodity Futures Trading Commission (CFTC), and particularly the final prong of a seven-part test used to determine if forward contracts with embedded optionality are subject to swaps requirements, need to be clarified or repealed, according to energy industry representatives.

The Commodity Futures Trading Commission's (CFTC) Division of Swap Dealer and Intermediary Oversight in a letter released Friday said it would provide no-action relief from certain requirements in the exception from the definition of the term "swap dealer," a decision that excludes utility operations-related swaps from the calculation of the de minimis threshold.

Reaching the deadline for comments on proposed new rules aimed at limiting speculative trading in the swaps markets, the Commodity Futures Trading Commission (CFTC) had heard from dozens of energy companies, financial institutions and others, most recommending alterations to the agency’s proposed rulemaking.

FERC Acting Chairman Cheryl LaFleur said Monday that the sharing of information between the Federal Energy Regulatory Commission and the Commodity Futures Trading Commission (CFTC) will help in speeding up fraud and manipulation investigations, allowing quicker resolutions that will keep market participants better informed.

One day after the Federal Reserve System (Fed) issued an advance notice of proposed rulemaking (ANOPR) seeking comment on how to limit risk involved in the physical commodity activity of financial holding companies, members of a Senate Banking subcommittee voiced skepticism about the effort and its timing.

FERC and the Commodity Futures Trading Commission (CFTC) on Thursday signed two memoranda of understanding (MOU) to address overlapping jurisdiction and information sharing in connection with market surveillance and investigations into potential market manipulation, fraud or abuse.

President Obama has tapped Sharon Y. Bowen, a partner with the Washington, DC, law firm of Latham & Watkins LLP, to succeed Commissioner Bart Chilton at the Commodity Futures Trading Commission (CFTC).

His fellow commissioners Monday elected Commissioner Mark P. Wetjen to serve as interim chairman of the U.S. Commodity Futures Trading Commission (CFTC) upon termination of Chairman Gary Gensler’s term at the end of the year.