Commodity Futures Trading Commission News

London Must Avoid Becoming ‘Offshore’ Financial Center After Brexit, Says CFTC Chief

Policymakers should “tether” London to the European Union to avoid isolating the region’s largest financial hub, harming the euro zone economy and spawning an offshore financial center, the head of the U.S. derivatives watchdog said. “It is clear that London …

MF Global’s Corzine to Pay U.S. Regulator $5 Million Over Firm’s Collapse

Jon Corzine, former New Jersey governor and Goldman Sachs co-chairman, will pay a $5 million civil fine to settle a U.S. regulator’s lawsuit over the 2011 collapse of his commodity brokerage, MF Global Holdings Ltd. Thursday’s accord with the U.S. …

Reuters Special Report: U.S. Banks Book Trades Abroad to Bypass U.S. Regulation

This spring, traders and analysts working deep in the global swaps markets began picking up peculiar readings: Hundreds of billions of dollars of trades by U.S. banks had seemingly vanished. “We saw strange things in the data,” said Chris Barnes, …

Futures Industry Looks to Insurance After MF Global Collapse

Long-derided as unsuitable for sophisticated futures markets, insurance is getting a surge of attention heading into the new year as the industry works to patch itself up after the stunning collapse of brokerage MF Global in 2011. Three separate efforts …

Washington Explores Insurance, Other Protection for Futures Customers

U.S. regulators and futures industry players said on Thursday that there is no perfect solution to safeguard customer money in the wake of two major brokerage scandals, but added that policymakers should move quickly on some important fixes. Bart Chilton, …

Derivative Reform to Be Finalized This Week

The U.S. swaps regulator is set to finalize this week a critical reform that will trigger banks and traders having to comply with costly new derivatives rules. The Commodity Futures Trading Commission will vote on Tuesday on a definition of …