Search Results for keywords:"Commodity Exchange Act"

The Commodity Futures Trading Commission (CFTC) is updating the rules for civil monetary penalties under the Commodity Exchange Act to account for inflation, as required by the Federal Civil Penalties Inflation Adjustment Act. This update adjusts the maximum fines for violations based on the change in the Consumer Price Index. The new penalties will apply to violations assessed after January 15, 2025. This rule aims to ensure penalties remain effective as deterrents over time and doesn’t require the standard notice and comment process normally needed for new regulations.

The Securities and Exchange Commission received a proposed rule change from the Cboe BZX Exchange, Inc. to list and trade shares of the 21Shares Core XRP Trust. This trust focuses on XRP, a digital asset intended for fast and low-cost transactions, different from other cryptocurrencies like Bitcoin and Ethereum. The proposal argues that XRP is less prone to price manipulation and offers ample protection for investors by securing assets in segregated accounts. The SEC is seeking public comments on this proposal to assess its compliance with regulatory standards, evaluating if it prevents fraud and protects investors before a final decision.

The Securities and Exchange Commission (SEC) has requested approval from the Office of Management and Budget (OMB) to extend an information collection under Rule 18a-10 of the Securities Exchange Act of 1934. This rule allows certain security-based swap dealers to follow the Commodity Exchange Act rules instead of some SEC requirements, provided they meet specific conditions. Currently, there are two such swap dealers, and the estimated annual effort required by these firms totals around 11 hours due to decreased respondent numbers and certain tasks no longer being necessary. The public can submit comments on this request until January 21, 2025.

The Commodity Futures Trading Commission (CFTC) has issued a final rule to adjust the maximum amount of civil monetary penalties (CMPs) for inflation under the Commodity Exchange Act (CEA). This annual adjustment is required by the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended, and ensures that penalties maintain their deterrent effect over time. The rule applies to penalties assessed after January 15, 2021, and is based on the percentage change in the Consumer Price Index. This adjustment process is exempt from the typical notice and comment procedures under the Administrative Procedure Act.

The Commodity Futures Trading Commission is seeking public comments on the renewal of an information collection related to the whistleblower provision of the Commodity Exchange Act. Comments should be submitted by March 1, 2021. The collection involves forms (TCR and WB-APP) that gather information about alleged violations and whistleblower awards. The estimated annual burden for respondents is 450 hours, with no extra costs anticipated.

Nasdaq has filed a proposal with the Securities and Exchange Commission (SEC) to list and trade shares of the 21Shares Polkadot Trust under Nasdaq Rule 5711(d), which deals with Commodity-Based Trust Shares. The trust aims to track the performance of Polkadot (DOT) without directly holding the cryptocurrency, allowing investors to access the market indirectly through traditional brokerage accounts. As part of its investment strategy, the trust will not use leverage or derivatives and will be managed by 21Shares US LLC. The SEC is seeking comments from the public on this proposed rule change, which must be approved to ensure it aligns with regulations designed to protect investors and prevent fraudulent activities.