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More Swaps Margin Rules; Manipulation Settlement; HFT Capital Violation; FX Futures Block Thresholds; Eating Evidence - Bridging the Week: September 15 to 19 and 22, 2014 [VIDEO]

Risk mitigation was a common theme last week underscoring proposed margin rules for uncleared swaps by the Commodity Futures Trading Commission for certain swap dealers and major swap participants, and minimum risk standards for uncleared swaps proposed by the International Organization of Securities Commissions. In addition, the settlement of net capital violation charges against a high-frequency trading firm was particularly notable for separate charges levied against its chief operating officer for contributing to his firm’s violations. And did you hear the one about the alleged insider trader middleman who supposedly ate the evidence?

As a result, the following matters are covered in this week’s Bridging the Week:

  • CFTC Proposes Margin Rules for Uncleared Swaps and Approves Special Treatment for Operations-Related Swaps With Certain Government-Owned Natural Gas and Electric Utilities;

  • Federal Court Tosses Out Challenges to the CFTC Cross-Border Guidance and Policy Statement (includes Totally Irrelevant (But Is It?));

  • CFTC Settles Attempted Manipulation Case With Brian Hunter for Payment of US $750,000 Fine;

  • High-Frequency Trading Firm Charged by SEC With Violating Broker-Dealer Net Capital Rule; COO Also Named;

  • Financial Stability Board Assesses Jurisdictions’ Deference to Other Jurisdictions’ Regulatory Regimes in the Oversight of OTC Derivatives Markets (includes My View);

  • IOSCO Publishes Consultation Report on Risk Mitigation Standards for Non-Cleared Swaps;

  • CME Announces Upgrades to Self-Match Prevention Functionality (includes Compliance Weeds);

  • ICE Futures U.S. Reduces Block Trade Size for Currency Pairs and Metals Futures Contracts;

  • SEC Sanctions 19 Firms and One Trader for Short Sales Prior to Participating in Stock Offerings;

  • CFTC Provides No-Action Relief Related to Certain Block Trades Executed Off a SEF;

  • Previously Unnamed Middleman Named in SEC Insider Trading Suit; He Allegedly Ate Material Evidence (includesTotally Irrelevant (But Is It?)); and more.

©2022 Katten Muchin Rosenman LLPNational Law Review, Volume IV, Number 267
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About this Author

Gary DeWaal, Securities Attorney, Katten Law Firm, New York
Special Counsel

Gary DeWaal focuses his practice on financial services regulatory matters. He counsels clients on the application of evolving regulatory requirements to existing businesses and structuring more effective compliance programs, as well as assists in defending and resolving regulatory disciplinary actions and enforcement matters. Gary also advises buy-side and sell-side clients, as well as trading facilities and clearing houses, on the developing laws and regulations related to cryptocurrencies and digital tokens.

Previously, Gary was a senior...

212-940-6558
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