U.S. Commodity Futures Trading Commission (CFTC)
Recent News About U.S. Commodity Futures Trading Commission (CFTC)
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Commissioner Johnson to Participate as Lead Discussant at Institute of International Finance’s AI & Data Roundtable
Commissioner Kristin N. Johnson will participate as a lead discussant at the Institute of International Finance’s AI & Data Roundtable. The event, scheduled for Thursday, April 18, 2024, at 2:00 p.m. (ET), will take place at the Offices of WilmerHale in Washington, DC.The Roundtable will feature AI leaders, policymakers, and financial service executives for a dialogue about new developments in artificial intelligence, links with data policy, and implications for growth and opportunity. It aims to bring together experts in the field to discuss the latest advancements and...
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Commissioner Pham to Speak at Harvard Law School—Program on International Financial Systems EU-US Symposium
Commissioner Caroline D. Pham is set to participate in a panel discussion titled "Enabling the Next Generation of Financial Markets and Innovation" at the Harvard Law School—Program on International Financial Systems (HLS-PIFS) Symposium. The event, focused on Building the Financial System of the 21st Century: An Agenda for Europe and the United States, will take place on April 18, 2024, at 2:30 p.m. (EDT) at JW Marriott in Washington, DC.Pham's involvement in the symposium underscores her commitment to exploring and shaping the future of financial markets and innovation....
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Chairman Behnam to Participate in an Interview at ISDA’s 38th Annual General Meeting
Chairman Rostin Behnam is set to participate in an interview at the upcoming ISDA’s 38th Annual General Meeting. The event is scheduled to take place on Wednesday, April 17, 2024, at 11:05 a.m. Tokyo time (JT), which is Tuesday, April 16, 2024, at 10:05 p.m. USA Eastern Time (ET). The venue for the meeting will be the Grand Hyatt in Tokyo, located at 6 Chome-10-3 Roppongi, Minato City, Tokyo, 106-0032, Japan.Behnam's participation in the interview at the ISDA Annual General Meeting is anticipated to provide insights and perspectives on significant matters concerning the...
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Commissioner Goldsmith Romero to Participate in ESMA Roundtable at Georgetown University Law Center
Commissioner Goldsmith Romero is set to participate in the European Securities and Markets Authority’s roundtable hosted by Georgetown University Law Center on April 17, 2024. The event will take place at Georgetown University Law Center in Washington, DC from 3:15 p.m. to 4:30 p.m. (EDT).The participation of Commissioner Goldsmith Romero in this roundtable signifies a significant collaboration between regulatory bodies and academic institutions. This event will provide a platform for dialogue and discussion on important issues within the financial and securities sectors....
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Commissioner Pham to Speak at D.C. Bar Event
Commissioner Caroline D. Pham is scheduled to participate in a fireside chat on recent CFTC developments and policy agenda. The event is set to take place at Steptoe LLP in Washington, D.C. on Wednesday, April 17, 2024, at 3:00 p.m. (EDT).The event, hosted by the D.C. Bar and Steptoe LLP, will feature a discussion with Commissioner Pham, providing insights into the latest developments and the policy agenda of the Commodity Futures Trading Commission (CFTC).According to event information, there will be an opportunity for networking during the fireside chat with...
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Federal Court Orders California Man and His Company to Pay $9 Million in Restitution and Penalties for Forex Fraud
Washington, D.C. — The Commodity Futures Trading Commission today announced the entry of a consent order in the U.S. District Court for the Eastern District of California imposing restitution and a civil monetary penalty against Eshaq M. Nawabi, d/b/a/ Nawabi Enterprise, and Hyperion Consulting Inc. The order requires the defendants to pay $4.5 million in restitution to victims of the fraud and a $4.5 million civil monetary penalty. According to the CFTC, "Today’s order fully resolves the CFTC action filed on April 26, 2022."The CFTC also emphasized the challenges in...
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Chairman Behnam to Discuss Global Regulatory Priorities at ISDA’s 38th Annual General Meeting
Chairman Rostin Behnam is set to address global regulatory priorities at the upcoming ISDA’s 38th Annual General Meeting. The event is scheduled for Tuesday, April 16, 2024, from 3:50 p.m. to 4:15 p.m. (Tokyo time) at the Grand Hyatt in Tokyo, Japan. Following Behnam's remarks, a question and answer session will take place, allowing attendees to engage further with the discussion on global regulatory priorities within the financial sector. The meeting promises to be an insightful gathering, providing valuable insights into the current regulatory landscape and potential...
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Chairman Rostin Behnam Addresses Challenges and Opportunities at AgCon 2024
Chairman Rostin Behnam delivered the opening remarks at the CFTC and the Center for Risk Management Education and Research (CRMER) at Kansas State University AgCon 2024 on April 11, 2024. Behnam expressed his pride in leading the return of the conference, emphasizing the importance of engaging with agricultural stakeholders to find solutions for America's farmers and ranchers.Highlighting the role of futures markets during challenging times, Behnam acknowledged the impact of external factors on commodity markets, such as supply chain breakdowns and geopolitical risks....
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Federal Court Sanctions Nevada Metals Trader for Spoofing in Gold and Silver Markets
The Commodity Futures Trading Commission (CFTC) announced that the U.S. District Court for the District of Nevada has sanctioned Daniel Shak of Las Vegas, Nevada, for engaging in spoofing and manipulative schemes in the gold and silver futures markets. The court entered a consent order on April 9, resolving the charges brought against Shak by the CFTC.According to the CFTC, Shak has been imposed with a $750,000 civil monetary penalty and is permanently prohibited from trading in commodity interests or registering with the CFTC in any capacity. Additionally, he is required...
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Importance of Self-Reporting in Regulatory Compliance Highlighted at New York City Bar Association Conference
Ian McGinley, a prominent figure in regulatory compliance, addressed the New York City Bar Association Futures and Derivatives Committee Conference. McGinley expressed gratitude for the opportunity to speak to members of the derivatives bar, emphasizing the importance of self-reporting in regulatory matters.McGinley highlighted the significance of self-reporting as a means to uncover misconduct that may go unnoticed otherwise. He stressed that self-reporting not only reveals specific wrongdoing but also acts as a deterrent to future misconduct. McGinley acknowledged the...
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Chairman Behnam to Participate in a Lecture at the University of Chicago Law School
Chairman Rostin Behnam will be taking part in a lecture at the University of Chicago Law School on April 10, 2024. The event is scheduled to take place from 5:00 p.m. to 6:00 p.m. (CT) and 6:00 p.m. to 7:00 p.m. (ET) at the University of Chicago School of Law, located at 1111 East 60th Street, Room C in Chicago, Illinois.Behnam's participation in the lecture at the prestigious law school is anticipated to be insightful and informative. This event provides an opportunity for students, faculty, and attendees to engage with Chairman Behnam on various legal and regulatory...
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Commissioner Kristin N. Johnson Urges Responsible Use of AI in Financial Markets
Commissioner Kristin N. Johnson, a Commissioner at the Commodity Futures Trading Commission (CFTC), delivered keynote remarks at the NYU AI Convening on the integration of AI in financial markets. Johnson emphasized the potential benefits and risks associated with AI in financial markets, stating, "While the use of AI in financial markets may hold the potential for substantial benefits, such use may also introduce unprecedented risks concerning market integrity, customer protection, governance, data privacy, bias, and cyber threats."Johnson highlighted her advocacy for...
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CFTC Appoints Christopher Skinner as Inspector General
The Commodity Futures Trading Commission (CFTC) has announced the appointment of Christopher L. Skinner as the CFTC’s Inspector General. According to the official announcement, Mr. Skinner brings 15 years of IG experience to his new role, including leading and managing Offices of Inspectors General and conducting various investigative tasks.Mr. Skinner's previous experience includes serving as the Inspector General at the Federal Election Commission (FEC) since 2019. During his tenure at the FEC, he managed a significant budget and oversaw the day-to-day operations of the...
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CFTC’s Energy and Environmental Markets Advisory Committee Gathers in Kansas City for Crucial Meeting
The Energy and Environmental Markets Advisory Committee (EEMAC) is set to convene on April 10, 2024, at the University of Missouri – Kansas City in Kansas City, Mo. The meeting, sponsored by CFTC Commissioner Summer K. Mersinger, will run from 9:00 a.m. to 12:00 p.m. (CDT) and is open to the public both in person and virtually, space permitting.Commissioner Mersinger highlighted the focus of the upcoming meeting, stating, “The last few EEMAC meetings focused on the metal and mineral markets and the crucial role of those commodities in the transition to renewable energy. I...
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Commissioner Goldsmith Romero to Speak on Responsible AI at Harvard Business School
Commissioner Christy Goldsmith Romero will speak at the Institute for Business in Global Society on Tackling the Challenges of Responsible AI at Harvard Business School. The event is scheduled for Wednesday, April 10, 2024, at 4:30 p.m. (EDT) at the Institute for Business in Global Society, Harvard Business School, Boston, MA 02163.
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Commissioner Johnson to Deliver Keynote at AI Civil and Human Rights Policy Roundtable and Book Workshop
Commissioner Kristin N. Johnson will deliver the opening keynote at AI Civil Rights and Human Rights: Visioning the Future of Rights in AI Governance, an AI Civil and Human Rights Policy Roundtable and Book Workshop, in dialogue with Professor Catherine Powell, Senior Advisor at the White House Gender Policy Council. The discussion will be moderated by Charlton McIlwain, NYU Vice Provost for Faculty Development, Pathways & Public Interest Technology.The event is hosted by NYU’s Center for Critical Race & Digital Studies, the NYU Alliance for Public Interest Technology,...
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Commissioner Pham to Speak at HSBC Global Investment Summit
Commissioner Caroline D. Pham is set to take part in the upcoming HSBC Global Investment Summit where she will be speaking on a panel focusing on "The New World of Digital Assets." The event is scheduled to take place on Tuesday, April 9, 2024, at 2:30 p.m. in Hong Kong (GMT+8) or 2:30 a.m. in the USA (EDT).The summit will be held at the Grand Ballroom Level LL, Conrad Hong Kong, 88 Queensway, Hong Kong. Those interested in attending can find additional information on the HSBC Global Investment Summit.
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Commissioner Johnson Announces CFTC Market Risk Advisory Committee Meeting on April 9
CFTC Commissioner Kristin N. Johnson has announced the Market Risk Advisory Committee (MRAC) will convene a public meeting on Tuesday, April 9 from 9:30 a.m. to 12:30 p.m. (EDT) at the CFTC's Washington, D.C. headquarters.Commissioner Johnson expressed, "At each meeting over the last two years, the MRAC has advanced a series of recommendations and reports on several of the most critical issues facing our markets. Consistent with the MRAC’s mission, the diverse stakeholders on the MRAC Subcommittees have considered critical issues, highlighted systemic risk concerns, and...
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Commissioner Pham to Speak at The George Washington University’s Belva Lockwood Society Award Luncheon
Commissioner Caroline D. Pham has been selected as the recipient of the 2024 Belva Lockwood Award by The George Washington University Law School and Law Association for Women. The prestigious award will be presented to Commissioner Pham at The George Washington University’s Belva Lockwood Society Award Luncheon.The event is scheduled to take place on Friday, April 5, 2024, at 12:00 p.m. (EDT) at The George Washington University Law School FCC (5th Floor) located at 716 20th Street, NW, Washington, DC 20052. Additional information about the event can be found on The Belva...
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Commissioner Johnson Announces Agenda for April 9 Market Risk Advisory Committee Meeting
CFTC Commissioner Kristin N. Johnson has revealed the agenda for the upcoming Market Risk Advisory Committee (MRAC) public meeting scheduled for April 9 in Washington, D.C. The meeting aims to consider recommendations designed to enhance market resilience and improve central counterparty wind-down procedures. Commissioner Johnson emphasized that these recommendations align with critical reforms implemented post the financial crisis to enhance market integrity and stability.During the meeting, the MRAC will delve into a formal report on the state of intermediated clearing...