[section]3103(a)(4) (amending the Commodity Exchange Act
Amends 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
Commodity Exchange Act
. Contracts for Difference (CFDs) are not available for US residents.
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.