The US Commodity Futures Trading Commission (CFTC) has filed and simultaneously settled charges against Wells Fargo Bank for failing to comply with its obligations to submit accurate large trader reports (LTRs) for physical commodity swap positions. Wells Fargo has its
Following the extreme market volatility experienced in October 2014, the regulatory agencies that oversee the US Treasury market began efforts to examine market structure and determine whether increased regulation is required. TABB Group’s latest research, “US Treasury Market 2016: Bamboo
AIMA Canada, the national group of the Alternative Investment Management Association, has welcomed the Canadian Securities Administrator’s (CSA’s) proposed amendments to National Instrument 81-102 and related National Instruments. Once finalised, these amendments potentially will allow Canadian retail investors to add
Advantage Futures, a Chicago-based futures commission merchant (FCM), the firm’s CEO Joseph Guinan and former chief risk officer William Steele are to jointly pay USD1.5 million to settle CFTC charges over supervision and risk management failures, and making inaccurate statements
Yieldbroker, Australia’s over-the-counter (OTC) interest rate exchange, has become the first foreign-regulated, multilateral swap trading facility to receive long-term approval to access US-based customers. Yieldbroker says the move secures billions of dollars of trade business, removes commercial uncertainty and is
The Commodity Futures Trading Commission (CFTC) has issued an order approving the transfer of all open interest in credit default swaps (CDS) at the Chicago Mercantile Exchange (CME) to ICE Clear Credit (ICC). The CFTC acted at the request of
The overall volumes that money market funds (MMFs) invest globally in asset-backed commercial paper (ABCP) will likely fall as the prime MMF industry shrinks, says Moody's Investors Service. Nevertheless, ABCP will remain an important source of investment diversification for MMFs.
Alternative investment firm Black Diamond Capital Management and alternative asset manager Spectrum Group Management have received a favourable ruling in their long running dispute with Yucaipa in connection with their investment in Allied Systems. In a written opinion last week,
The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update (ASU) that would make targeted improvements to the accounting guidance for hedging activities. Stakeholders are encouraged to review and provide comment on the proposed ASU by 22
The US CFTC has added 71 names to its Registration Deficient (RED) List, which contains the names of unregistered foreign entities that the CFTC has reason to believe are soliciting and accepting funds from US residents at a retail level
