Covington & Burling LLP’s Post

With increasing attention being given to the carbon credits market, Carl Kennedy of Katten Muchin Rosenman LLP takes an in-depth look at final guidance for listing voluntary carbon credit derivatives issued by the U.S. Commodity Futures Trading Commission https://lnkd.in/e9YEr-BR #carboncredit #regulation #derivatives

The Commodity Futures Trading Commission has issued new guidance on listing voluntary carbon credit derivatives on regulated exchanges, ensuring that only VCCs meeting certain standards can be traded. Here's what you need to know ⬇

The US Securities and Exchange Commission and the Commodity Futures Trading Commission have overhauled Form PF and private fund managers have until March 12, 2025, to begin reporting on the new Form. The changes to the reporting requirements mandated by the amendments to the Form (“Form PF Amendments”) will require substantial preparation by many managers. Learn more in this Alert: https://bit.ly/4cVps3o #SchulteLaw Authors: Michael Didiuk | Malik Rollins | Joseph Daly

The Commodity Futures Trading Commission (CFTC) voted 3-2 along party lines to approve a notice of proposed rulemaking that would revamp the agency’s event contract review process and prohibit an event contract “involving” certain activities from being listed on a derivatives exchange. If adopted, the proposal would arguably deter and prevent a broad swath of event contracts from trading in US markets. Current exchange registrants and market participants, and platforms or markets offering event contracts, should strongly consider submitting a comment letter by the July 9 deadline. Visit our website to read our recent client alert, “Proposed CFTC Event Contract Rule Creates Uncertainty, Could Stifle Markets with Consequential Commercial Value,” authored by members of our Government Affairs and Public Policy team, Ryan Hayden, Micah Green, Alexandra Scheibe, Richard Shilts, and Michael Dunn.

The Commodity Futures Trading Commission (CFTC) voted 3-2 along party lines to approve a notice of proposed rulemaking that would revamp the agency’s event contract review process and prohibit an event contract “involving” certain activities from being listed on a derivatives exchange. If adopted, the proposal would arguably deter and prevent a broad swath of event contracts from trading in US markets. Current exchange registrants and market participants, and platforms or markets offering event contracts, should strongly consider submitting a comment letter by the July 9 deadline. Visit our website to read our recent client alert, “Proposed CFTC Event Contract Rule Creates Uncertainty, Could Stifle Markets with Consequential Commercial Value,” authored by members of our Government Affairs and Public Policy team, Ryan Hayden, Micah Green, Alexandra Scheibe, Richard Shilts, and Michael Dunn.

The Commodity Futures Trading Commission (CFTC) voted 3-2 along party lines to approve a notice of proposed rulemaking that would revamp the agency’s event contract review process and prohibit an event contract “involving” certain activities from being listed on a derivatives exchange. If adopted, the proposal would arguably deter and prevent a broad swath of event contracts from trading in US markets. Current exchange registrants and market participants, and platforms or markets offering event contracts, should strongly consider submitting a comment letter by the July 9 deadline. Visit our website to read our recent client alert, “Proposed CFTC Event Contract Rule Creates Uncertainty, Could Stifle Markets with Consequential Commercial Value,” authored by members of our Government Affairs and Public Policy team, Ryan Hayden, Micah Green, Alexandra Scheibe, Richard Shilts, and Michael Dunn.

The Commodity Futures Trading Commission (CFTC) voted 3-2 along party lines to approve a notice of proposed rulemaking that would revamp the agency’s event contract review process and prohibit an event contract “involving” certain activities from being listed on a derivatives exchange. If adopted, the proposal would arguably deter and prevent a broad swath of event contracts from trading in US markets. Current exchange registrants and market participants, and platforms or markets offering event contracts, should strongly consider submitting a comment letter by the July 9 deadline.   Visit our website to read our recent client alert, “Proposed CFTC Event Contract Rule Creates Uncertainty, Could Stifle Markets with Consequential Commercial Value,” authored by members of our Government Affairs and Public Policy team, Ryan Hayden, Micah Green, Alexandra Scheibe, Richard Shilts, and Michael Dunn: https://lnkd.in/eY-sQZyz

The Commodity Futures Trading Commission (CFTC) is an independent agency of the US government created in 1974 that regulates the U.S. derivatives markets, which includes futures, swaps, and certain kinds of options. The stated mission of the CFTC is to promote the integrity, resilience, and vibrancy of the U.S. derivatives markets through sound regulation. The Commodity Exchange Act (CEA) requires certain firms and individuals that conduct business in the derivatives industry to register with the CFTC. CFTC regulations also require, with few exceptions, CFTC registered firms to be NFA Members. The CFTC has delegated registration responsibility to NFA. All futures professionals required to register with the CFTC are granted registration only after a thorough investigation of their background to determine if they meet the fitness standards set forth in the CEA.

For those of you in the commodity futures space, the recent changes to Part 4 of the CFTC Rules that, among other changes, increases the Portfolio Requirement for QEPs from $2,000,000/$200,000 to $4,000,000/$400,000 (if you deal with QEPs you likely understand that shorthand, but if you don't feel free to ping me) was published in the Federal Register today and will go into effect as of November 25, 2024. https://lnkd.in/gGqfTUrt #commoditiescompliance #QEP