Futures Industry joint letter opposing transaction tax

The Administration's FY 2008 budget proposal seeks to levy a tax on futures transactions executed on exchanges regulated by the Commodity Futures Trading Commission (CFTC) to fund the majority of the $116 million budget proposed for the Commission. ...

Supreme Court Agrees to Hear Klein vs. Nybot Case

The Supreme Court on May 21 granted a petition to hear the case Klein & Co. Futures, Inc v. Board of Trade of the City of New York, et al. The case raises an important issue regarding whether futures commission merchants have a private righ ...

Anti-Money Laundering: Fincen Provides Guidance for Futures Brokers

The Financial Crimes Enforcement Network, the anti-money laundering arm of the U.S. Treasury Department, has issued a six-page letter providing guidance to the futures industry on several important issues related to the application of the USA Patriot Act ...

Anti-Money Laundering: FIA Receives Guidance on Application of Customer Identification Rules to Give-Up Arrangements

In response to a request from the FIA, the Commodity Futures Trading Commission and the Financial Crimes Enforcement Network, the anti-money laundering arm of the U.S. Treasury Department, on April 19 issued guidance clarifying the application of custome ...

FIA Submits Comment Letter on CFTC’s Public Director Definition

The FIA submitted a comment letter to the Commodity Futures Trading Commission on April 25 in response to proposed amendments to the CFTC's definition of a public director. The letter reiterated the FIA's support for the CFTC's efforts to address co ...