Have you seen “
At the Crossroads: CFTC and DOJ
Enforcement“, our new video weekly series hosted by
Mayer Brown partners Matthew F. Kluchenek and Glen A. Kopp? It s a must-see!
Each episode, they will discuss a topic at the intersection of
enforcement by the Commodity Futures Trading Commission (CFTC) and
the Department of Justice (DOJ). The goal: to help legal and
compliance departments protect their organizations in an
increasingly rigorous regulatory environment.
Insider trading in the Commodities/Derivatives Markets is the
focus of Episode 1
Since the CFTC formed its Insider Trading & Information
Protection Task Force in 2018, the agency has brought a number of
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The Decree of the President of the Republic of Uzbekistan
“On Measures for Further Development of the Capital
Market” No.УП-6207 dated on 13 April 2021 (the
“Decree No.УП-6207”) defined the main
directions of development of the capital market.
The Decree No.УП-6207 has the following main
objectives:
increasing the total volume of free securities in the GDP of
the country to 5%;
increase capital market capitalization to UZS 45 trillion by
2023;
increasing the availability of market capital;
target 40,000 people by 2023 in support of upgrading the
knowledge and skills of capital market participants.
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SEC Commissioner Hester Peirce cautioned against build[ing] a neat set
of ESG (environmental, social and governance metrics) metrics that
then get incorporated into a whole array of financial
transactions. At an ISDA Derivatives Forum, Commissioner
Peirce addressed issues that await new SEC Chair Gary Gensler,
highlighting ESG, the regulation of security based swaps and
expanded access to the capital markets.
Ms. Peirce said that ESG metrics, designed by the SEC, could
have the potential to mislead. She acknowledged that
issuers that were able to obtain a high ESG score might obtain an
In Short
The Situation: Non-fungible tokens are an
emerging digital asset class that present a unique set of
commercial, regulatory, and other legal considerations.
The Result: The current U.S. regulatory and
legal framework is slowly catching up to the developing technology.
Key legal issues include how NFTs can be categorized, intellectual
property rights, anti-money laundering and sanctions implications,
cybersecurity concerns and state laws governing virtual
currencies.
Looking Ahead: As the asset class matures, U.S.
regulations and laws are catching up to the developments and
increased interest in the technology with other applicable
global regulatory regimes already in place. Investors, financial
A trading firm settled NYSE Arca charges for incorrectly
calculating its net capital.
In a Letter of Acceptance, Waiver, and Consent, NYSE Arca
determined that the trading firm applied incorrect haircut and
undue concentration deductions onto its positions at the firm s
clearing firm, resulting in an overstatement of the firm s net
capital. The firm also failed to notify the SEC and NYSE Arca of
its net capital deficiencies. NYSE Arca determined that, among
other things, the trading firm failed to create and maintain a
supervisory system adequately designed to ensure compliance with
the net capital and reporting requirements to which it is