[section]3103(a)(4) (amending the
Commodity Exchange ActAmends the
Commodity Exchange Act Clearing houses are a standard
In its November 1999 report, Over-the-Counter Derivatives and the
Commodity Exchange Act, the President's Working Group on Financial Markets (PWG) concluded that OTC derivatives transactions should be subject to the CEA only if necessary to achieve the public policy objectives of the act--deterring market manipulation and protecting investors against fraud and other unfair practices.
Stein, The Exchange-Trading Requirement of the
Commodity Exchange Act, 41 VAND.
Accordingly, rather than suggesting that swaps should be considered futures, I strongly believe that any legislation should make it clear that swaps are not futures and should therefore be exempt from the
Commodity Exchange Act."
She adds, "Manufacturers are pleased with Treasury's announced proposal to exempt foreign exchange swaps and forwards from the definition of a 'swap' under the
Commodity Exchange Act (CEA), as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act."
The orders also require Morgan Stanley and UBS to cease and desist from further violations of the
Commodity Exchange Act and to comply with certain undertakings.
The
Commodity Exchange Act granted the CFTC exclusive jurisdiction over derivatives, thus precluding SEC regulation of the derivatives markets.
The CFMA added a new Section 2(h) to the
Commodity Exchange Act, exempting two classes of transactions from most CFTC regulation.
On the basis of its authority under the
Commodity Exchange Act (CEA), CFTC focuses its oversight primarily on the operations of traditional futures exchanges, such as the New York Mercantile Exchange, Inc.
The proposed SOP would include investment partnerships that are commodity pools subject to regulation under the
Commodity Exchange Act of 1974 in the scope of SOP 95-2.