CTA, IB or SEF?

The webinar will cover the CFTC Division of Market Oversight SEF Advisory issued in September 2021 and related CFTC enforcement orders including last fall’s order against Asset Risk Management, and the practical implications of those actions for CTAs, IBs, and their clients.  The speakers will discuss the advisory and enforcement orders in the context of the CFTC’s SEF rulemaking, and how the CFTC’s actions risk blurring the line between traditional activities of CTAs and IBs, on the one hand, and organized markets, on the other.  The speakers will highlight special regulatory issues and compliance challenges now facing CTAs and IBs (along with other CFTC registrants) and their clients.  Finally, the speakers will briefly describe SEC and ESMA rulemaking proposals to expand the elements defining certain types of organized markets to encompass use of communication protocols.