Commodities

The Commodity Futures Trading Commission (CFTC) voted 3-2 to finalize a rule impacting the de minimis exception on swaps entered into by insured depository institutions (IDI) in connection with consumer loans.

The rule has support from the banking industry but has raised two dissenting opinions within the CFTC.

Read on to find out more details about the rule.

The Commodity Futures Trading Commission (CFTC) is on track to have a new chairman with President Donald Trump’s recent announcement that he intends to nominate Heath Tarbert for the position.

If confirmed, Tarbert would succeed J. Christopher Giancarlo, who has served as CFTC chairman since August 2017 and is scheduled to remain in the role until April 2019.

Read on to learn more details about the new nominee.

Financial holding companies with less than $10 billion in assets would be exempt from clearing requirements on certain swaps under a new rule recently proposed by the Commodity Futures Trading Commission (CFTC).

The rule would formalize clearing cost relief for bank holding companies and savings and loan holding companies provided via a 2016 CFTC no-action letter, responding to advocacy by the American Bankers Association.

Read on to learn more details about what the rule would mean for smaller financial holding companies if finalized.

A man who offered original information about violations of the Commodity Exchange Act (CEA) has been granted the largest award for a whistleblower in the history of the Commodity Futures Trading Commission (CFTC) Whistleblower Program.

The award is roughly three times larger than the previous award to hold that distinction, paid in March 2016.

Read on to find out more about the multi-million dollar award.

President Donald Trump has nominated an experienced attorney to become a commissioner of the Commodity Futures Trading Commission (CFTC) for the remainder of a five-year term expiring April 13, 2023. 

The new nominee is no stranger to the agency. He served as the CFTC’s general counsel from 2009 to 2013 and was its deputy representative to the Financial Stability Oversight Council during that time.

Read on to find out more about the nominee.

Alleging charges of commodities fraud and spoofing, the Commodity Futures Trading Commission recently issued criminal and civil enforcement actions against three banks and six individuals, in conjunction with the Department of Justice and Federal Bureau of Investigation’s Criminal Investigative Division.

Consent orders issued to Deutsche Bank, UBS and HSBC direct the companies to pay a total of nearly $47 million in civil monetary penalties.

Find out more about what practices were deemed illegal under federal laws prohibiting spoofing.

Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo has appointed a new director of the agency's Division of Clearing and Risk (DCR).

The appointee, who currently serves the Security and Exchange Commission’s Division of Trading and Markets as associate director for derivatives policy and trading practices, officially joined the CFTC on Oct. 16.

Read on to find out more about the agency’s new appointee and who he is replacing. 

Rep. Lynn Jenkins’ (R-Kan.) recently introduced H.R. 2205, “The Enhancing Credit Opportunities in Rural America Act,” which proposes to benefit rural Americans and has gained support from the Independent Community Bankers of America. Read on to learn more.