US Legal & Regulation

The Commodity Futures Trading Commission has approved an exemptive order providing time-limited relief from certain cross-border applications of the swaps provisions of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Commission’s regulations. »

The Commodity Futures Trading Commission has notified ICE Futures US of the results of a rule enforcement review completed by the commission’s division of market oversight.  »

The Securities and Exchange Commission (SEC) has charged a Connecticut-based investment adviser with falsely stating to clients that it was co-investing alongside them in two collateralised debt obligations (CDO). »

The Depository Trust & Clearing Corporation (DTCC) is proposing changes to its settlement processing for money market instruments (MMIs) to boost efficiencies, improve intraday settlement finality and further reduce credit and liquidity risk in the MMI market. »

Advise Technologies, a software solutions provider for global regulatory compliance, has released a list of top tips for private funds preparing for their first SEC examination. »

The National Futures Association (NFA) has permanently barred Strategic Trading Associates, a New York-based commodity trading adviser, and temporarily barred Francis Littleton, a principal and associated person of the firm. »

Timothy S Durham, former chief executive of Ohio-based Fair Finance, has been sentenced to 50 years in prison for orchestrating a USD200m scheme that defrauded more than 5,000 investors over almost five years. »

The Commodity Futures Trading Commission’s division of market oversight (DMO) has issued a time-limited no-action letter granting relief for bespoke or complex swaps from certain reporting obligations under Part 43 and Part 45 of the Commission’s regulations. »

Federal investigators continue to tighten ranks around hedge fund manager Steven Cohen, arresting one of his former portfolio managers in what the US Attorney for New York has called “the most lucrative insider trading scheme ever charged.” »

A federal court jury in Boston, Massachusetts returned a verdict of securities fraud liability against registered investment adviser EagleEye Asset Management and its sole principal, Jeffrey A Liskov, both of Plymouth, MA, in connection their fraudulent conduct toward advisory clients. »