The incoming Trump administration will have clean slates as far as regulating U.S. securities and commodities markets as Rostin Behnam, chairman of the U.S. Commodity Futures Trading Commission (CFTC), announced on January 7 that he will be stepping down from his position on January 20 with his final day being Friday, February 7. Behnam was… Read More >>
CFTC Enforcement Unit Urges Higher Penalties
The Commodity Futures Trading Commission’s Division of Enforcement has issued an advisory “designed to give enforcement staff guidance on future enforcement resolution recommendations to the Commission.” One long-time securities industry observer summarized the enforcement advisory’s import by saying “The big news here is that the CFTC will no longer be letting firms off the hook… Read More >>
Life After the Crypto Winter
As the winter of our discontent with cryptocurrencies continues, it’s clear that changes have to be made and that the next crypto spring will either not happen at all or it will be a radical rejection of the Wild West status quo. One path is an outright ban. Some like Charlie Munger, the vice chairman… Read More >>
Senate Makes Behnam the New CFTC Chairman
Lost in the tsunami of federal government budget battle news is the welcome development that the Commodity Futures Trading Commission (CFTC) has a new, official chairman — Rostin “Russ” Behnam, and that the stage has been set for a full roster of commissioners. On Dec. 16, the U.S. Senate voted unanimously to approve Rostin Behnam… Read More >>
BNY Mellon Helps Crypto Custody Startup Raise $133M
Fireblocks Raises a Total of $179 Million Crypto infrastructure provider Fireblocks has raised $133 million in Series C funding with help from the Bank of New York Mellon and SVB Capital, the investment platform of SVB Financial Group, via an effort led by Coatue, Ribbit Capital, and Stripes Group, officials say. With this round of… Read More >>
CFTC to Explore Climate Change’s Financial Risks
As many parts of the U.S. and the rest of the world struggle with the effects of extreme weather, the CFTC through its Market Risk Advisory Committee (MRAC) will be exploring another aspect of climate change — the financial risks. The committee will hold a public meeting on Wednesday, June 12, at the CFTC’s headquarters… Read More >>
McLoughlin Named Sole CEO of BGC Financial for the Americas
Former Co-CEO to Oversee Special BGC Projects BGC Partners, an interdealer broker and technology provider, has appointed Shawn McLoughlin as CEO of BGC Financial for the Americas region, effective immediately. McLoughlin, who has been serving as an executive managing director and co-CEO of BGC Financial, Americas, with Lou Scotto “to define business strategy for new… Read More >>
Senate Confirms Giancarlo as Next CFTC Chairman
The CFTC has a nearly full slate of commissioners with the U.S. Senate’s unanimous vote late yesterday to promote J. Christopher Giancarlo from acting chairman to chairman, and to confirm Brian D. Quintenz, a Republican, and Rostin Behnam, a Democrat, as new commissioners. Quintenz will join the CFTC from Saeculum Capital Management, “where he is… Read More >>
