CFTC Staff to Host a Public Roundtable to Discuss the Proposed Volcker Rule

Washington, DC – The Commodity Futures Trading Commission (CFTC) today announced that staff will hold a public roundtable on Thursday, May 31, 2012, from 9:30 a.m. to 4:30 p.m., to discuss the proposed regulations to implement Section 619 (commonly known as the Volcker Rule) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 619 contains certain prohibitions and restrictions on the ability of banking entities to engage in proprietary trading and to have certain interests in, or relationships with, a hedge fund or private equity fund.

The roundtable will consist of two panels that are composed of a variety of market participants and members of the public. The first panel, starting at 9:30 a.m., will discuss the various hedging provisions and requirements of the CFTC’s proposed Volcker Rule. The second panel will start at 2:00 p.m., and discuss the market-making sections of the CFTC’s proposed Volcker Rule. The roundtable will help the Commission by providing additional public input for the final rulemaking.

Find the agenda here.

Evaluating Your FCM Post-MF Global

In an effort to share intelligence CMC and partner organizations have gathered in the aftermath of the MF Global bankruptcy, CMC offers a free workshop as a service to our membership and to the industry at large. 

Who should attend?

Anyone involved in the commodity futures industry who has questions about working with FCMs in a post-MF Global World.  In-house counsel and credit and risk managers will find the content of particular value.

When and where will the workshop be offered?

• Chicago: June 5
• Minneapolis: June 6
• New York City: June 12

Please join us at one of these free events.

If you have any questions, please Contact Us.

Leading Washington Financial Policy Journalist on CMC Policy Call

Earlier this week, CMC was pleased to host Benton Ives, a leading financial and regulatory policy journalist from the CQ.com website, to discuss the politics and policies of financial regulation. In the course of an insightful and engaging conversation, Benton walked CMC members through the latest legislative and regulatory initiatives, with a focus on Title VII of the Dodd-Frank Act and the Volcker Rule.

CFTC Update

The following Proposed Rule has been published:

77 FR 28819

17 CFR Chapter 1 Second Amendment to July 14, 2011 Order for Swap Regulation

CMC Launches Capitol Hill Newsletter

Last week, CMC sent our first Hill Newsletter to various offices and staffers.  The publication will be sent out each month to update those on the Hill of CMC’s recent work as well as important highlights and news from the industry.  Topics in this month’s issue include CMC’s letter submissions, important MF Global updates, other industry news, important links and upcoming events.  To read the first CMC Hill Newsletter, click here.

Commodity Customer Coalition Discusses MF Global on CMC’s Policy Call

On CMC’s policy call this week, the Commodity Customer Coalition (CCC), a group that has been active in providing policy ideas and recommendations in the wake of the MF Global saga, addressed our members. John Roe, who represented the CCC on the call, provided a comprehensive overview of the main policy recommendations they is advocating. CMC members and staff discussed the pros and cons of some of those recommendations with John.

Senate Agriculture Committee Staffers Discuss Farm Bill on CMC’s Policy Call

Earlier this week on CMC’s member-only policy call, senior staff members from the Senate Agriculture Committee Majority Office discussed the 2012 farm bill. CMC members took advantage of this opportunity to learn more about the legislative prospects of the farm bill, the impact of the budgetary and fiscal climate on the bill, and the Senate Majority’s thoughts regarding specific Titles within the bill.

Wide-ranging CMC Member-only Policy Call

Several topics of importance to the CMC community were discussed on our policy call this week. Among them were electronic recording requirements, the Volcker Rule, the CFTC’s commodity options rule and a new agricultural futures contract introduced by CME.