The SIPA trustee of collapsed futures broker MF Global, Inc. (“MFGI”) recently issued letters to many IBs asserting that the trustee may file preference actions to recover commission payments made…
It’s a tough time to be a futures broker. Despite surviving the 1-2 punch of MF Global and PFG, markets have been difficult to predict and volumes haven’t fully bounced…
It goes without saying that the safety of customer funds and information is critical in the futures industry. In recent years, NFA has taken significant steps to enhance customer protection.…
CFTC Regulation 1.73 affects IBs and FCMs that execute orders for customers. Thus IBs who execute give-up orders must adopt risk management procedures. This new regulation also applies to bunched…
As one of four NFA Board Members representing CTAs and CPOs, I'm working to represent the interests of a broad spectrum of money managers and traders. But just who are…
Most of the work I have been doing on the NFA board thus far has been trying to open the eyes of fellow board members and senior NFA staff to…
The CFTC is not done writing rules mandated by the Dodd-Frank Bill. Customer protection is the focus and who can argue with that? However, it will have an impact on…
I’ve been asked to moderate the NFA Representatives Panel at the upcoming NIBA membership meeting in September. This is an opportunity I’ve been hoping for -- an opportunity to discuss…
The CFTC has amended its Rule 1.35 to require futures commission merchants (FCMs), certain introducing brokers (IBs), retail foreign exchange dealers and certain other registrants to record all oral communications…
I have the privilege of leading the NIBA Legal Update once again this year. This panel of industry experts including Mike Coglianese and Jeff Kopiwoda will address legal developments -…
