Anti-abuse fines on both sides of the Atlantic and more
There has been an increased focus on anti abuse activity in the energy and commodities markets over the past year, due to a combination of the start of MAR in…
Cargill fined $10m for misreporting marks under Dodd Frank
The CFTC has fined Cargill $10m for the misreporting of marks to SDRs and counterparties. The CFTC's press release can be found here. According to the press release, the order finds…
Progress on EU-US recognition
The European Commission and the CFTC moved closer to mutual recognition of rules, following a meeting held last week. The movement has been on two fronts: Trading platform recognition, which…
Position limits rules and others worldwide
While the start of MiFID II commodity derivatives position limits moves closer (see here), there has been some movement in the US in finally applying mandatory position limits, which will…
CFTC announces review of US reporting requirements
The US Commodity Futures Trading Commission has announced a review of the "swaps" reporting rules under the Dodd Frank Act. The announcement can be found here. There are objectives to…
The harmonisation of OTC derivatives reporting
The Bank of International Settlements (BIS) and IOSCO have published this paper which gives views on how data elements of OTC derivatives should be reported under different regulatory regimes worldwide.…
Article on regulatory change and architecture
See here for an article by Ian Sutherland on The OTC Space about implementing regulatory change and technology. While the article is focused on banking , the energy and commodity…
Article on UTIs
IOSCO, BIS and OICV recently issued a report (see here) on the harmonisation of Unique Transaction Identifiers across different jurisdictions. This post by Irene Mermigidis of REGIS-TR examines this issue, and…
IOSCO issues technical guidance on UTI harmonisation
IOSCO together with the BIS and OICV have issued technical guidance on the harmonisation of the Unique Transaction Identifier, which is hoped will lead to a global scheme to be…
FSB report on the progress of derivatives reform
See here for a report from the Financial Stability Board on the progress of OTC derivatives reforms across the world. The report looks at the state of regulatory initiatives since…