The CFTC suit charges the defendants with four counts, all of which involve violations of various parts of the Commodity Exchange Act
and CFTC regulations: 1) Failure to segregate, and misuse of, customer funds; 2) Failure to report under-segregation; 3) Submission of false or misleading statements; and 4) Failure to supervise diligently.
In June 2012, the Commodity Futures Trading Commission (CFTC) issued proposed guidance on the cross-border application of certain swaps provisions under the Commodity Exchange Act
(CEA), along with a proposed exemptive order that would delay the obligation to comply with certain entity level requirements for non-US (or foreign) swap dealers (SDs) and major swap participants (MSPs).
The term "commodity" is defined in 7 USC [section] 1a(9) of the Commodity Exchange Act
, in pertinent part as:
JPMorgan has failed to release the assets in two selected accounts until 10 days after LBI's liquidation proceedings, the regulatory agency said, adding that it did not claim that JPMorgan Chase intentionally violated the Commodity Exchange Act
or CFTC regulations.
(63) It requires swap dealers and major swap participants to register under the Commodity Exchange Act
and perform recordkeeping and reporting duties, thereby creating a comprehensive picture of derivatives participants and transactions.
[section] 3103(a)(4) (2009) (amending the Commodity Exchange Act
taken out of the "exempt The Commodity Exchange Act
Although the use of the futures markets by institutional investors to gain long-term exposure to commodities represents a new type of speculation, the Commodity Exchange Act
(CEA)--the law governing futures trading--does not prohibit this activity.
The House Agriculture Committee, which oversees CFTC, slated three days of hearings, opening on Tuesday, to review legislation to amend the Commodity Exchange Act
, the foundation of US control of the futures market.
In the United States, financial markets for certain commodities are regulated under the Commodity Exchange Act
(CEA) if the traded instrument satisfies the statutory definition.
The Commodities Futures Modernization Act of 2000 amended the Commodity Exchange Act
to allow trading of futures contracts on individual equity securities and narrow-based indices of equity securities.
The SOP amends SOP 95-2 to include within its scope investment partnerships that are commodity pools subject to regulation under the Commodity Exchange Act