From the category archives:

cftc

Dodd-Frank Establishes New Laws Regarding Spot Commodities and Spot Forex

August 1, 2010

The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Act”) has changed a number of laws in all of the securities acts including the Commodity Exchange Act.  Two specific changes deal with the certain transactions in commodities on the spot market.  Specifically, Section 742 of the Act deals with retail commodity transactions.  In this section, the [...]

Read the full article →

CFTC Launches New Website

April 4, 2010

(www.hedgefundlawblog.com) In a move that has been long overdue, the CFTC has launched a new website which was designed to make getting to CFTC information easier.  We have had a chance to explore the new site and believe that it is a significant improvement over the old site, even if the new colors (orange) and [...]

Read the full article →

NFA Announces Effective Date of New CPO Reporting Rule 2-46

March 18, 2010

First CPO Quarterly Report Due May 17, 2010 As we recently discussed in an earlier article on NFA Compliance Rule 2-46, the NFA has adopted a new compliance rule which will require commodity pool operators to provide certain information to the NFA on a quarterly basis.  In general CPOs will need to provide the NFA [...]

Read the full article →

New Forex Regulations: Overview of Public Comments

February 23, 2010

Leverage, Inaccessibility for Smaller Traders, and Offshore Threat are Focus of Public Comments As we’ve discussed in related posts, the CFTC has proposed rules regulating the off-exchange spot forex industry (see Retail FOREX Registration Regulations Proposed).  The CFTC has requested comments from the public and there are currently about 100 public comments on CFTC’s website written in [...]

Read the full article →

CPO Annual Financial Report Filing

February 16, 2010

Information on Filing Annual Report with NFA Commodity Pool Operators (“CPOs”) are required to distribute an Annual Report, certified by an independent public accountant, to each participant in each pool it operates (i.e. the investors in the commodity/futures hedge fund) within 90 days after the pool’s fiscal year-end (normally December 31).  CPOs are also required under [...]

Read the full article →

NFA Self-Examination Checklist 2010 | FCMs, IBs, CPOs and CTAs

February 8, 2010

Easy Step by Step Guide for NFA Member Firms NFA Member Firms are all required to complete a yearly self-examination checklist to ensure that the Member Firm is complying with all the NFA Rules (as well as the CFTC Regulations and other applicable laws).  The NFA has provided some resources on their website.  We believe [...]

Read the full article →

CFTC Provides Annual Guidance to CPOs

January 28, 2010

Annual Report Guidance for Commodity Pool Operators In a recent release, which we have reprinted in full below, the CFTC reminds CPOs of their annual reporting requirements under Regulation 4.22.  The release includes a link to the 2010 CPO Annual Guidance Letter.  In general the letter provides another reminder to CPOs to file their annual [...]

Read the full article →

CTA and CPO Foreign Language Disclosure Documents

January 20, 2010

Translating a Disclosure Document to Another Language is Fine NFA Member Firms are required to have their disclosure documents reviewed by the NFA generally before such firms can distribute the documents to potential investors.  One issue which sometimes arises is when the firm (generally either a CTA or CPO) has potential clients/investors who are non-U.S. [...]

Read the full article →

Eligible Contract Participant (ECP) Definition

January 15, 2010

The term “eligible contract participant” is important with regard to managers who provide advice on futures and commodities investments (including off-exchange spot foreign currency or “forex”).  In general there are exemptions from various CTA, CPO and IB registration provisions for those managers who only provide advisory services to those clients who fall within the definition [...]

Read the full article →

Retail FOREX Registration Regulations Proposed

January 14, 2010

Forex Managers Required to be Registered Under New Regulations The much anticipated off-exchange retail foreign currency regulations were proposed today by the CFTC.  The release announcing the publication in the Federal Register is reprinted below and can be found here.  We will be providing an overview of the major provisions shortly. The full proposed rules [...]

Read the full article →

← Previous Entries