The President is nominating top Treasury Department official Timothy Massad as head of CFTC, the agency that regulates the futures and options market.» Read More
WASHINGTON, Oct 30- U.S. regulators hope to vote in December on a rule that would bar banks from gambling with their own money, the nation's top derivatives regulator said on Wednesday, in a sign that the acrimonious process of writing the Volcker rule is drawing to an end.
WASHINGTON, Oct 30- U.S. Commodity Futures Trading Commission Chairman Gary Gensler said regulators have not yet agreed on the final wording of the controversial Volcker rule, but he is trying to schedule a commission vote on the rule in December.
WASHINGTON, Oct 30- The head of the U.S. Commodity Futures Trading Commission said he would try to schedule a vote in December on the controversial Volcker rule to ban proprietary trading by banks. An initial version was proposed in October 2011 but was never made final.
The departure of David Meister, head of enforcement at the Commodity Futures Trading Commission, comes as his close ally CFTC Chairman Gary Gensler's five-year term draws to a close at the end of the year without a clear candidate to replace him. During Meister's nearly three years on the job, the CFTC filed a record number of actions against Wall Street.
Oct 1- The head of enforcement at the Commodity Futures Trading Commission, David Meister, is expected to step down as early as Tuesday, the New York Times reported, possibly leaving a leadership vacuum at the agency that regulates the derivatives market.
"The SEC will be able to stay open in the event of a funding lapse," spokesman John Nester said, explaining that the SEC has funds that are not available to most other U.S. agencies. Even if the SEC did run out of funds and was forced to scale back operations, securities regulators would still keep an eye on exchange activity, potential insider-trading and money funds.
WASHINGTON, Sept 30- If a budget stalemate in the U.S. Congress leads to an extended federal government shutdown, investors can expect potential interruptions to financial product approvals and new rules, though market oversight would not grind to a halt. The exact timing of when the SEC would cease some functions is unclear.
NEW YORK, Sept 27- The U.S. Commodity Futures Trading Commission has warned against the use of controversial documents that have been at the center of disputes in the $300 trillion derivatives market in recent weeks, after some fund managers accused big banks of trying to use the proposed agreements to maintain their market control.
WASHINGTON, Sept 25- A leadership vacuum at the top U.S. derivatives regulator could weigh down the Commodity Futures Trading Commission's efforts to police financial markets using vast new powers Congress gave it after the financial crisis, lobbyists and people inside the regulator said.
WASHINGTON, Sept 24- The head of the Senate Agriculture Committee asked the regulator of the U.S. futures markets on Tuesday to probe whether traders have manipulated the price of biofuel credits that soared over the summer and were blamed for raising gasoline prices.
LONDON, Sept 19- A top U.S. regulator stepped back from previous calls to scrap the Libor interbank lending rate, saying instead that reform needed to be led at a global level and would take time.
Banks potentially have a conflict of interest when they trade commodities while also controlling supply, said Bart Chilton, a Democratic member of the Commodity Futures Trading Commission. "The Fed should do this, and if they don't, Congress should," Chilton said in an emailed statement ahead of a speech scheduled later in the day.
"The Fed should do this, and if they don't, Congress should," Chilton said in an emailed statement ahead of a speech scheduled later in the day. Wall Street banks are under increasing pressure from U.S. politicians and consumers to part with their commodity operations, after years of complaints about inflated prices during the 2000 s commodity boom.
WASHINGTON, July 30- Wall Street banks face the prospect of increased scrutiny of their commodity businesses as U.S. regulators and lawmakers on Tuesday pressed for a closer look at their roles in owning warehouses and in trading everything from oil to metals.
WASHINGTON, July 30- The top U.S. securities regulator said on Tuesday she was examining insider trading rules for commodities, further stepping up scrutiny of Wall Street's role in trading anything from oil to metals.
WASHINGTON, July 30- Pressure on U.S. futures regulators to launch an official probe of the aluminum market mounted on Tuesday, when the head of the Senate Agriculture Committee asked the Commodity Futures Trading Commission to review alleged manipulation.
WASHINGTON, July 30- U.S. futures regulators should review alleged manipulation of the aluminum market, the head of the Senate Agriculture Committee said on Tuesday.
The rules are part of a broader regulatory effort to protect customer money after the spectacular failures of two large brokerages, MF Global Inc and Peregrine Financial Group, led to giant and unanticipated shortfalls in client funds.
*IOSCO says benchmarks should be based on transactions. *IOSCO members to make benchmark rigging a specific offence. Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission and co-chairman of IOSCO, has called for Libor to be scrapped as soon as possible and replaced with a benchmark based only on transactions, rather than estimates.
LONDON, July 17- Global regulators will give markets some leeway in compiling financial benchmarks, stopping short of U.S. calls for more radical action to stamp out price-rigging. It follows public outrage after banks UBS, Barclays and RBS were fined $2.6 billion in total for manipulating the London Interbank Offered Rate or Libor.