News & Media

Lawrence Kamin, LLC > Financial Services & Regulatory > Futures & Derivatives

Newsfeed

July 17, 2018

Futures & Derivatives

Futures & Derivatives Chicago has served as a hub for national commodities and futures trading since the mid-19th century when the railroads first arrived and the Chicago Board of Trade opened. Lawrence Kamin has been a part of this rich history for decades – a valuable resource assisting clients through a complex and ever-changing landscape. […]

Continue Reading

July 16, 2018

Michael Wise

Continue Reading

July 1, 2018

Recent Enforcement Orders Remind FCMs: Train Your Brokers on Post- Execution Allocation Rules.

On May 29, 2018, the CFTC and NFA1, respectively, issued enforcement decisions against Chicago-based Xchange Financial Access, LLC (“XFA”) that should serve as a cautionary tale for Futures Commission Merchants, and other registrants, about the importance of training, updating supervisory procedures, and appropriately maintaining records. According to the regulators, XFA failed to supervise…

February 2, 2013

MF Global: A Comparison of the Trustee’s Report Recommendations and the House Staff’s Report Recommendations

The MF Global, Inc.1 (“MFGI”) bankruptcy shocked the ﬁnancial service world and raised a signiﬁcant number of regulatory and other issues that will shape the future world of ﬁnancial service regulation, including securities, futures and derivatives.

June 1, 2010

Recent Net Capital Increases for FCMs and IBs

The Commodity Futures Trading Commission (“CFTC”) adopted rules, effective March 31, 2010, which significantly increase net capital requirements for both futures commission merchants (“FCMs”) and introducing brokers (“IBs”). The National Futures Association (“NFA”) has also imposed parallel higher capital requirements for futures commission merchants (“FCMs”) effective March 31, 2010.

August 1, 2005

Critical Elements of an Effective Supervisory Structure

Rules adopted by the NASD and NYSE in the past year have heightened the supervisory requirements for securities firms. Among the more significant changes are a certification requirement by the Chief Executive Officer and mandatory compliance inspections.

June 1, 2005

When is an Unregulated Derivatives Dealer Considered to be a “Stockbroker” for Purposes of the Bankruptcy Code?

In the Chapter 11 proceeding in the matter of Refco, Inc., et al., case number 05-6006 (RDD), involving not only Refco, Inc., but its unregulated affiliate Refco Capital Markets, Ltd. (“RCM”), a number of issues were raised after the Court initially held that RCM, a Bermuda company, was a “stockbroker” under the…

December 1, 2004

Who is a Proprietary Trader 2004?

In a 2000 article, we noted increasing attention and focus on whether individuals described as “proprietary traders” were truly trading on behalf of a firm or were, in fact, customers trading under the guise of proprietary trader. Nearly four years later, regulatory guidance in this area remains inconsistent and continues to result in…

April 1, 2003

Securities Futures Two Years After the CFMA: An Assessment

The Commodities Futures Modernization Act of 2002 (“CFMA”) established for the first time in the United States a regulatory scheme to permit trading of futures on individual equities and narrow-based equity indices. This article discusses each of the major areas of CFMA involving security futures and comment on the efficiency of the…

May 1, 2002

Security Futures – A New Frontier

The Commodity Futures Modernization Act of 2000 permitted for the first time the trading of futures on single stocks and narrow-based indices. This article describes new and proposed rules on a variety of subjects relating to the new trading, including the protection of customer funds, reporting and recordkeeping, minimum capital, margin, and SRO…

1
2

Lawrence Kamin maintains this website to provide general information about its services and legal expertise. While we try to keep the information timely and accurate, we make no guarantees. We make every effort to correct errors brought to our attention. Full Disclaimer
† Select attorneys have received this recognition