United States: Commodities/Derivatives/Stock Exchanges

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Finance law and banking law thought leadership, articles, podcasts, videos and webinars from expert sources across the legal world. Explore insights covering topics such as capital adequacy, BASEL, acquisition finance, debt capital markets, fund finance, islamic finance, securitization and structured finance.

CFTC Staff Extends Relief To Certain RIAs Operating Private Commodity Pools

On December 19, 2025, the CFTC staff issued no-action relief to commodity pool operators ("CPOs") registered with the SEC as investment advisers, with respect to the operation of certain commodity pools whose interests are offered solely to "qualified eligible persons" as defined in CFTC Regulation 4.7 ("QEPs").

United States Finance

D

Dechert

CFTC No-Action Reinstates Broad Registration Exemption For Institutional CPOs, Pending Further Action

On Friday, December 19, the Staff of the Commodity Futures Trading Commission's (CFTC) Markets Participant Division published a new no-action letter – CFTC Staff Letter 25-50...

United States Finance

KM

Katten Muchin Rosenman LLP

CFTC Staff Partially Reinstate CPO Exemption For RIAs

On December 19, 2025, the staff of the Division of Market Participants of the Commodity Futures Trading Commission ("CFTC") issued no-action relief from commodity pool operator ("CPO") registration...

United States Finance

MB

Mayer Brown

The CFTC Reinstates Exemption From CPO Registration For Certain Private Fund Managers

On December 19, 2025, the Staff of the Commodity Futures Trading Commission (CFTC) issued no-action relief that effectively reinstates (with a few modifications) an exemption from registration...

United States Finance

KG

K&L Gates LLP

Crypto Investor Protection: SEC And CFTC Enforcement Trends

United States Technology

SH

Scarinci Hollenbeck LLC

Regulatory Reset: CFTC Pulls Back On Guidance For ‘Actual Delivery' Of Digital Assets

United States Finance

B

Benesch Friedlander Coplan & Aronoff LLP

SEC Clears Path For Tokenized Securities

United States Technology

KM

Katten Muchin Rosenman LLP

CFTC's Wells Process Reforms Favor Market Participants, Solidify Respondent Protections In Enforcement Action Review Process

United States Finance

SJ

Steptoe LLP

CFTC Relief Eliminates Dual US Regulation Of Certain Investment Managers

United States Finance

AG

Akin Gump Strauss Hauer & Feld LLP

Disagreement Deepens Among Federal Courts Over Whether Sports Event Contracts Are Subject To State Regulation

United States Finance

CG

Cahill Gordon & Reindel LLP

Congratulations, CFTC Chairman Selig

United States Finance

KM

Katten Muchin Rosenman LLP

CFTC Rolls Out Digital Asset Collateral Pilot, Issues Tokenized Collateral Guidance, And Withdraws Prior Virtual Currency Advisory

United States Finance

SM

Sheppard Mullin Richter & Hampton

CFTC Staff Issue Broad No-Action Relief Harmonizing Cross-Border "U.S. Person" And "Guarantee" Definitions

United States Finance

CW

Cadwalader, Wickersham & Taft LLP

SEC Staff Issues No-Action Relief For DTC Tokenization Pilot

United States Finance

CW

Cadwalader, Wickersham & Taft LLP

The Empty Chair At Johannesburg: What It Says About US Power

United States International

SJ

Steptoe LLP

Food Venture Financing News – Weekly Issue No. 263

United States Healthcare

DW

Davis Wright Tremaine

Early Mediation: Is Your Case A Likely Candidate?

United States Litigation

J

JAMS

Federal Circuit: Priority Document That 'Broadly Outlines' Possible Structures Fails To Provide Adequate Written Description Support For Subgenus Of Linkers In Antibody-Drug Conjugate

United States IP

AG

Akin Gump Strauss Hauer & Feld LLP

Countdown To Jan. 1, 2026: Preparing For California's New AI Training Data Transparency Obligations

United States Technology

FK

Frankfurt Kurnit Klein & Selz

Michael Selig Confirmed As CFTC Chairman: Six Issues To Watch In 2026

Michael Selig was confirmed by the US Senate on Thursday, December 18, 2025, and he will soon be sworn in as the 16th Chairman of the Commodity Futures Trading Commission (CFTC).

United States Finance

W

WilmerHale

Financial Markets And Funds Quick Take | Issue 45

Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds.

United States Finance

KM

Katten Muchin Rosenman LLP

CFTC May Gain Primary Authority Over Digital Commodities Under Senate Draft Bill

On November 10, 2025, Senator John Boozman and Senator Cory Booker released a bipartisan Senate Agriculture Committee discussion draft bill that proposes a new authority for the Commodity Futures Trading Commission...

United States Technology

FL

Foley & Lardner

Analysis: How Does The Senate Agriculture Committee's Bipartisan Crypto Market Structure Discussion Draft Build On The CLARITY Act?

On November 10, 2025, Senator John Boozman (R-AR), Chairman of the Senate Committee on Agriculture, Nutrition, and Forestry, and Senator Cory Booker...

United States Finance

DW

Davis Wright Tremaine

The Likely Road Ahead For The CFTC Under Chair Selig

United States Finance

DW

Davis Wright Tremaine

CFTC's Tokenized Collateral Guidance: Integrating Blockchain Into Derivatives Markets

United States Finance

CG

Cahill Gordon & Reindel LLP

CFTC Launches Digital Assets Pilot Program For Tokenized Collateral In Derivatives Markets

United States Finance

KM

Katten Muchin Rosenman LLP

CFTC Staff Simplifies Its U.S. Person Definitions

United States Consumer

D

Dechert

CFTC Announces Amendments To Rules Of Practice And Rules Relating To Investigations

United States Finance

W

WilmerHale

CFTC Harmonizes US Person And Guarantee Definitions In Swap Requirements

United States Finance

MB

Mayer Brown

Consistent Definitions, Less Confusion: CFTC Divisions Streamline And Harmonize Cross-Border Swap Compliance

United States Finance

KM

Katten Muchin Rosenman LLP

CFTC Issues Guidance On Tokenized Collateral And Other Crypto Sprint Developments

United States Technology

DW

Davis Wright Tremaine

December 2025 Crypto Update: New Changes And Challenges In U.S. Regulation Of Digital Assets

United States Technology

B

Benesch Friedlander Coplan & Aronoff LLP

CFTC Announces Changes To Rules Governing Enforcement Investigations And Settlement Recommendations

United States Finance

AG

Akin Gump Strauss Hauer & Feld LLP

Consistent Definitions, Less Confusion: CFTC Divisions Streamline And Harmonize Cross-Border Swap Compliance

The US Commodity Futures Trading Commission (CFTC or Commission) has taken a significant step toward regulatory clarity and harmonization in the cross-border swaps market.

United States Finance

KM

Katten Muchin Rosenman LLP

CFTC Issues Guidance On Tokenized Collateral And Other Crypto Sprint Developments

Guidance on tokenized assets and pilot program using tokenized collateral for derivatives expands the adoption of digital assets in U.S. financial markets as "a significant step forward" to help make America...

United States Technology

DW

Davis Wright Tremaine

December 2025 Crypto Update: New Changes And Challenges In U.S. Regulation Of Digital Assets

As 2025 winds down, legislators and regulators continue their efforts to establish a comprehensive framework for cryptocurrencies and other digital assets.

United States Technology

B

Benesch Friedlander Coplan & Aronoff LLP

CFTC Announces Changes To Rules Governing Enforcement Investigations And Settlement Recommendations

On December 1, 2025, the Commodity Futures Trading Commission (CFTC) announced amendments to its rules of practice and rules governing investigations, with the stated goal of enhancing transparency, fairness and due process.

United States Finance

AG

Akin Gump Strauss Hauer & Feld LLP

CFTC Authorizes Spot Crypto Trading On DCMs

United States Finance

CW

Cadwalader, Wickersham & Taft LLP

CFTC Staff Guidance Dispels Longstanding Legal Uncertainty Around An FCM's Use Of Customer Securities To Secure Foreign Futures Exposures

In 2016, and again in 2018, Commodity Futures Trading Commission (CFTC) staff issued no-action letters permitting Futures Commission Merchants (FCMs) to deposit securities pledged by their foreign futures customers with a foreign broker affiliate of the FCM under a limited right of use in favor of the foreign broker.

United States Finance

KM

Katten Muchin Rosenman LLP

Risk Transfer Market Receives CPO Registration Relief From CFTC

On November 21, 2025, the Structured Finance Association, on behalf of the risk transfer market, received no-action relief on the issue of registration as a commodity pool operator ("CPO") from the staff of the Division of Market Participants of the Commodity Futures Trading Commission ("CFTC").

United States Finance

MB

Mayer Brown

Stablecoins And The GENIUS Act: How New Global Rules Are Reshaping Compliance

Stablecoins were supposed to be the "boring" part of crypto: digital dollars that just work. Yet for years they have lived in a regulatory no-man's-land, classified one day as securities...

Worldwide Technology

SH

Scarinci Hollenbeck LLC

Improving UK Transaction Reporting: FCA Consults On Streamlined Framework

On 21 November 2025, the Financial Conduct Authority (FCA) published a consultation paper (CP25/32) setting out proposed reforms to the UK transaction reporting regime (the Regime).

United States Finance

KM

Katten Muchin Rosenman LLP

Guidance For Sovereigns, Private Bond Creditors And Multilaterals: IMF Maps Weaknesses In Today's Restructuring Architecture

United States Insolvency

BB

Baker Botts LLP

So You Want To Apply To Become A CFTC-Registered Designated Contract Market (DCM)? Here's What You Should Know

United States Finance

KM

Katten Muchin Rosenman LLP

Financial Markets And Funds Quick Take | Issue 44

United States Finance

KM

Katten Muchin Rosenman LLP

The Senate Speaks On Crypto Market Structure: The Agriculture Committee's Bipartisan Discussion Draft

United States Technology

CG

Cahill Gordon & Reindel LLP

CFTC's Tokenized Collateral Initiative: A Pivotal Step In Derivatives Modernization

United States Finance

C

Caldwell

APAC Monthly Private Wealth Legal Developments – October 2025

Worldwide Commercial

KL

Herbert Smith Freehills Kramer LLP

US Senate Agriculture Committee Unveils Digital Asset Market Structure Draft

United States Technology

ML

McMillan LLP

Senate Agriculture Committee Releases Bipartisan Crypto Market Structure Discussion Draft

United States Finance

DW

Davis Wright Tremaine

US Senate Banking Committee Unveils Digital Asset Market Structure Draft

United States Finance

ML

McMillan LLP

Senate Finance Committee Takes Up Taxation Of Digital Assets

United States Finance

KG

K&L Gates LLP

Derivatives For REITs: Managing Risks And Rewards

United States Finance

GP

Goodwin Procter LLP

US Expands Critical Minerals List, Pursues Agreements With Allies

Worldwide International

CL

Cassidy Levy Kent

SGX RegCo Issues Its Response On Its Proposals For A More Disclosure Based Regime

United States Finance

AO

A&O Shearman

Are You Using 'Finfluencers': Practical Guidance For CFTC-Registered Derivatives Intermediaries And Exchanges

United States Finance

KM

Katten Muchin Rosenman LLP

United States Technology

LS

Lowenstein Sandler

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Latest Videos

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Event Contracts: Financial Innovation Or Gambling Back Door? (Video)

G

Gamma Law

Dan Davis Shares Views On Digital Asset Regulation During House Subcommittee Hearing (Video)

KM

Katten Muchin Rosenman LLP

Mining In Focus: Latin America (Video)

GW

Gowling WLG

Current Issues In Derivatives (Video)

SM

Sheppard Mullin Richter & Hampton

Fall Blockchain Update Two: Kraken Fine (Video)

PC

Pryor Cashman LLP

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