On December 17, 2019, three different divisions of the Commodity Futures Trading Commission (“CFTC”) issued no-action letters intended to facilitate the swaps market’s transition away from interbank offered rates (each, an “IBOR”) and toward alternative benchmarks. The letters responded to requests for relief made by the Alternative Reference Rates Committee (the “ARRC”), the group convened

The temporary stay previously imposed on the SEC’s final municipal advisor rules expires July 1, 2014.  Accordingly, municipal advisors will be required to register with the SEC on Form MA on a phased-in schedule beginning July 1, 2014, and ending October 31, 2014.

Registration of “municipal advisors” under Section 15B of the Exchange Act was

The SEC’s Office of Compliance Inspections and Examinations (OCIE) announced this week that its National Exam Program (NEP) launched an initiative to “engage with” investment advisers that have never been examined by the SEC.  Advisers to private funds that registered after the implementation of the Dodd-Frank Act, and which are subject to the NEP’s presence

On January 2, 2014, the U.S. Commodity Futures Trading Commission (CFTC) ordered a Russian foreign national to pay a $250,000 civil penalty for making false and misleading statements to CFTC staff in an interview during an enforcement investigation. The CFTC issued the penalty pursuant to new authority under the Dodd-Frank Act, which amended the Commodity

The Volcker Rule imposes significant restrictions on “proprietary trading” by banking organizations and their affiliates.   The Rule applies to all banking entities, which are defined to include foreign banking organizations that have U.S. branches or agencies or which own U.S. banks or certain other U.S. subsidiaries (“FBOs”).   Also covered by the Rule are affiliates of