Federal Regulatory Agencies
Here's a look at documents from federal regulatory agencies
Featured Stories
SEC Announces Dismissal of Civil Enforcement Action Against Neil R. Cole
WASHINGTON, May 5 -- The Securities and Exchange Commission issued the following litigation release (No. 19-cv-11148; S.D.N.Y filed Dec. 5, 2019) involving Neil R. Cole:
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On May 4, 2026, the U.S. Securities and Exchange Commission filed a notice of voluntary dismissal in connection with the Commission's civil enforcement action against Neil R. Cole.
As stated in the notice of dismissal, "The Commission's decision to seek dismissal of this enforcement action is an exercise of its discretion and does not necessarily reflect the Commission's position on any other case."
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Resources
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WASHINGTON, May 5 -- The Securities and Exchange Commission issued the following litigation release (No. 19-cv-11148; S.D.N.Y filed Dec. 5, 2019) involving Neil R. Cole:
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On May 4, 2026, the U.S. Securities and Exchange Commission filed a notice of voluntary dismissal in connection with the Commission's civil enforcement action against Neil R. Cole.
As stated in the notice of dismissal, "The Commission's decision to seek dismissal of this enforcement action is an exercise of its discretion and does not necessarily reflect the Commission's position on any other case."
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Resources
*SEC Dismissal (https://www.sec.gov/files/litigation/litreleases/2026/dismissal26547.pdf)
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Original text here: https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26547
SEC Amends Complaint & Files Proposed Final Judgment Against Trust for Violating Beneficial Ownership Reporting Requirements of Federal Securities Laws
WASHINGTON, May 5 -- The Securities and Exchange Commission issued the following litigation release (No. 1:25-cv-00105; D.D.C. filed Jan. 14, 2025):
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Securities and Exchange Commission v. Elon Musk, et al., No. 1:25-cv-00105 (D.D.C. filed Jan. 14, 2025)
On May 4, 2026, the U.S. Securities and Exchange Commission filed an amended complaint to add the Elon Musk Revocable Trust dated July 22, 2003 (the "Revocable Trust") as a defendant to this action. The amended complaint alleges that the defendants failed to timely file a beneficial ownership report with the Commission after the Revocable
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WASHINGTON, May 5 -- The Securities and Exchange Commission issued the following litigation release (No. 1:25-cv-00105; D.D.C. filed Jan. 14, 2025):
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Securities and Exchange Commission v. Elon Musk, et al., No. 1:25-cv-00105 (D.D.C. filed Jan. 14, 2025)
On May 4, 2026, the U.S. Securities and Exchange Commission filed an amended complaint to add the Elon Musk Revocable Trust dated July 22, 2003 (the "Revocable Trust") as a defendant to this action. The amended complaint alleges that the defendants failed to timely file a beneficial ownership report with the Commission after the RevocableTrust acquired beneficial ownership of more than five percent of the outstanding shares of Twitter, Inc. common stock, in violation of the beneficial ownership reporting requirements under the Securities Exchange Act of 1934 ("Exchange Act").
The SEC simultaneously moved for entry of a consent final judgment as to the Revocable Trust. Without admitting or denying the allegations of the complaint as to the Revocable Trust, the Revocable Trust consented to entry of a final judgment, subject to court approval, that would permanently enjoin it from violating Section 13(d) of the Exchange Act and Rule 13d-1 thereunder and order it to pay a civil penalty of $1.5 million.
As explained in the consent motion, if the court enters the proposed final judgment as to the Revocable Trust as proposed by the Revocable Trust and the SEC, the SEC will file a stipulated dismissal of Elon Musk in his personal capacity, which will resolve this case in its entirety.
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Resources
* SEC Amended Complaint (https://www.sec.gov/files/litigation/complaints/2026/comp26548.pdf)
* Consent Motion for Entry of Final Judgment (https://www.sec.gov/files/litigation/complaints/2026/judgment26548.pdf)
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Original text here: https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26548
FCC: Chairman Carr Announces Six Months of Operation Clean Carts Success
WASHINGTON, May 5 -- The Federal Communications Commission issued the following news release on May 4, 2026:
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Chairman Carr Announces Six Months of Operation Clean Carts Success
Millions of Insecure Devices Removed From E-Commerce Platforms and Best Practices Developed in Ongoing Oversight Efforts.
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Today, the Federal Communications Commission provides an update on six months of successful results from Operation Clean Carts. Led by the FCC's Council on National Security, the FCC launched Operation Clean Carts to rid e-commerce platforms of unauthorized covered equipment. After six months,
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WASHINGTON, May 5 -- The Federal Communications Commission issued the following news release on May 4, 2026:
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Chairman Carr Announces Six Months of Operation Clean Carts Success
Millions of Insecure Devices Removed From E-Commerce Platforms and Best Practices Developed in Ongoing Oversight Efforts.
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Today, the Federal Communications Commission provides an update on six months of successful results from Operation Clean Carts. Led by the FCC's Council on National Security, the FCC launched Operation Clean Carts to rid e-commerce platforms of unauthorized covered equipment. After six months,the leading e-commerce companies have removed over 3 million listings for illegal, dangerous devices and continue to update their screening best practices.
Chairman Carr issued the following statement:
"Operation Clean Carts has been and will continue to be a huge win for the American people, by limiting the sale of insecure gear online. We commend e-commerce platforms for working with us and developing best practices, and we urge other online sellers to follow suit."
Additional Background Information:
Federal law prohibits the sale or marketing of electronic equipment and devices on the agency's Covered List, found to pose national security risks. Six months ago, the FCC announced the initial success of Operation Clean Carts, a coordinated enforcement/engagement initiative to protect American consumers by reducing the online availability of illegal electronic devices. This operation continues to reap rewards for the American people.
Over the last six months, online marketplaces have collectively removed or blocked over 3 million product listings associated with insecure "covered" equipment. Since each listing can result in many sales, the actual number of devices removed from sale is likely significantly higher. Moreover, participating e-commerce platforms have voluntarily strengthened their compliance programs with automated detection, enhanced product vetting, rapid delisting mechanisms, third-party seller education, and ongoing improvements to internal compliance. The FCC has encouraged and witnessed the development of several practices that could benefit the entire e-commerce ecosystem:
* Using AI and machine-learning tools to identify potentially unlawful devices through text, image, and metadata searches, even where third-party sellers use evasive tactics (such as misspelled or abbreviated brand names, image manipulation, or the purposeful misclassification of devices in unrelated categories to avoid detection).
* Verifying FCC authorization, including cross-checking FCC IDs against the equipment authorization system and collecting the needed information to ensure the device is FCC compliant.
* Enhanced third-party seller vetting, including stricter onboarding requirements, verification of brand authorization, and gating of higher risk product categories by requiring pre approval and additional compliance documentation before products can be listed.
* Strong takedown and re-listing prevention systems, including the use of automated suppression, product level and seller level restrictions, and updated detection patterns to stop attempts to relist prohibited products under different names or categories.
* Expanded education and communication channels, including updated compliance guidance, streamlined FCC to platform coordination, and more accessible information to support timely removals and ongoing program improvements.
The FCC will continue periodic monitoring of unauthorized devices, especially covered equipment, being sold on major e-commerce platforms and will also continue to work closely with platforms to ensure compliance with federal rules and to protect our nation's consumers and communications networks from existing and emerging threats.
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Original text here: https://docs.fcc.gov/public/attachments/DOC-421450A1.txt
FCC Wireless Telecommunications Bureau Issues Public Notice: Broadcast Auxiliary Service Frequency Coordinator Designated For FIFA World Cup 2026
WASHINGTON, May 5 -- The Federal Communications Commission's Wireless Telecommunications Bureau issued the following public notice (Docket No. DA 26-438) on May 4, 2026:
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By this Public Notice, the Wireless Telecommunications Bureau (WTB) and the Media Bureau (MB) grant the request from FWC 2026 US, Inc. (FWC 2026)/1 to designate Mr. Louis Libin as the single point of contact for coordinating Broadcast Auxiliary Service (BAS) operations during the upcoming FIFA World Cup 2026 (WC26). In addition, to the extent necessary, we grant waivers requested by FWC 2026 to permit low-power auxiliary
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WASHINGTON, May 5 -- The Federal Communications Commission's Wireless Telecommunications Bureau issued the following public notice (Docket No. DA 26-438) on May 4, 2026:
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By this Public Notice, the Wireless Telecommunications Bureau (WTB) and the Media Bureau (MB) grant the request from FWC 2026 US, Inc. (FWC 2026)/1 to designate Mr. Louis Libin as the single point of contact for coordinating Broadcast Auxiliary Service (BAS) operations during the upcoming FIFA World Cup 2026 (WC26). In addition, to the extent necessary, we grant waivers requested by FWC 2026 to permit low-power auxiliaryoperators/2 to operate within protected contours, as well as the related maximum power level, when operating within the designated areas during this event.
BAS stations, which are licensed under Part 74 of the Commission's rules, make it possible for television and radio stations and networks to transmit program material between various locations (e.g., from remote sites of breaking news stories or other live events to television studios, from studios to broadcasting transmitters for delivery to consumers, and between broadcast stations)./3 In addition to licensed BAS stations, section 74.24 of the Commission's rules allows eligible broadcasters to operate BAS stations on a short-term basis, not to exceed 720 hours annually, without prior Commission authorization./4
In connection with major events such as national political conventions, Presidential inaugurations, the Olympic Games, and the 2025 FIFA Club World Cup (CWC25), WTB and MB have designated a BAS frequency coordinator and required prior coordination of all BAS operations, including operations pursuant to section 74.24 of the Commission's rules./5 We took these actions pursuant to our authority under section 74.24(g)(2)/6 and in response to our concern that uncoordinated use of BAS stations on a special temporary authority basis could result in spectrum congestion and harmful interference./7 We believe that the potential for a similar situation exists during WC26. As FWC 2026 notes, WC26 will bring together 48 soccer teams from across the globe for 104 matches across 11 venues,/8 with 6 billion global viewers expected to watch through broadcast, streaming, and digital platforms. As a result, FWC 2026 expects extensive video, audio, and data coverage of WC26--and consequently, extensive use of wireless equipment./9 FWC 2026 argues that successful coordination of these RF communications will minimize the potential for harmful interference and ensure the operational integrity of WC26./10 This request aligns with the virtually identical relief we granted to FWC 2026 in advance of CWC25, which allowed FWC 2026 to address spectrum congestion and harmful interference concerns./11
Accordingly, we find that appointing Louis Libin as the special frequency coordinator will facilitate WC26, and will serve the public interest. Mr. Libin has extensive experience in coordinating frequency use for a variety of national and international events./12 Mr. Libin will be the single point of contact for coordinating all use of Part 74 frequencies within a five-kilometer radius of the coordinates listed in Attachment A during the specified dates./13 The designated frequency coordination period will start five days before each venue's initial match and conclude one day after each venue's last match so that FWC 2026 can prepare the RF environment to ensure spectrum readiness before matches begin and can oversee a controlled shutdown of the venues./14 This designation will also allow for advance coordination of auxiliary broadcast frequency usage in the designated areas. To minimize harmful interference, all Parts 74, 78 and 101 licensees sharing spectrum available under Part 74 of the Commission's rules and operating in the designated areas are covered by this action.
Mr. Libin can be reached for the purposes of frequency coordination by phone at (516) 374-6700 or by email at louislibin@broad-comm.com. Mr. Libin will provide assistance and database access to all local and non-local Part 74 licensees, as well as Part 78 and 101 licensees authorized to share spectrum available under Part 74 in the designated areas, for temporary fixed, mobile, and portable installations.
In addition to the operations discussed above, we note the potential use of unlicensed nextgeneration devices operating in TV white spaces. In 2013, the Commission established a White Spaces (WS) database to provide licensed BAS, and other protected spectrum users, a means for registering their operations for protection from harmful interference caused by the operation of these unlicensed devices./15 Registration in the WS database is only for protection from white space devices; the WS database does not provide coordination among BAS operations and is not a substitute for coordination through Mr. Libin.
FWC 2026 also requests that, to the extent necessary, the Commission grant a waiver of the distance-separation requirement of section 74.802 of the Commission's rules, to permit the use of low power auxiliary stations (LPAS), not to exceed 1 watt of power on channels allocated for TV broadcasting where the nearest operating television station transmitter is located at least 40 kilometers from the event venues listed in Attachment A./16 Similarly, FWC 2026 requests that the Commission grant a waiver of section 74.861,/17 which limits the power for LPAS operating in the 600 MHz duplex gap and the bands allocated for TV broadcasting./18
FWC 2026 requests these waivers to "accommodate specialized equipment required for reliable and robust operations in large, open-air stadium environments," including equipment necessary to support international broadcast systems, in-stadium long-range coordination, wireless intercoms, and public safety communications./19 FWC 2026 states that detailed on-site spectrum analysis and related spectrum measurements have been completed "at each venue," and commits to further detailed on-site analysis at all identified locations to ensure interference-free operations./20 FWC 2026 further commits to coordinating all frequencies used for LPAS with existing authorized licenses, and to using frequency coordination and interference mitigation protocols to protect primary and co-channel users from harmful interference./21 FWC 2026 states that LPAS devices operating below 941.5 MHz will not exceed 250 milliwatts (mW) of conducted power, and that LPAS devices operating in the 941.5-960 MHz band will not exceed 1 watt (W) of conducted power./22
FWC 2026 confirms that LPAS operations will otherwise be in full compliance with the technical standards outlined in the Commission's rules (including those relating to emissions masks, spurious emissions, and modulation protocols)./23 FWC 2026 further commits to field testing during the five days leading up to the first match at a venue, and one day prior to each match, confirming that emissions remain within safe and non-interfering parameters./24
FWC 2026's request for relief is similar to requests that WTB and MB have previously granted for events such as national political conventions, presidential inaugurations, the Olympic Games, and the CWC25./25 Given the planning measures, coordination, and mitigation commitments that FWC 2026 has undertaken, we do not anticipate that granting the requested relief will result in harmful interference between low power auxiliary operations at the venues and TV broadcasting operations.26 In addition, FWC 2026 will conduct additional spectrum measurements at each venue, both prior to, and during WC/26, to help support interference-free performance and to enable the rapid identification and resolution of issues that may arise./27 Accordingly, to facilitate public safety and the operational integrity of this major international event, we grant the requested relief.
Action by Chiefs, Broadband Division, Wireless Telecommunications Bureau, and Video Division, Media Bureau.
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Footnotes:
1/ FWC 2026 is a subsidiary of Federation Internationale de Football Association (FIFA). On March 17, 2026, FWC 2026 requested that Louis Libin be designated as a special frequency coordinator and RF spectrum manager for the FIFA World Cup 2026. See Letter from Stefan Timmermans, Director of Event Technology & Operations, and Juan Morales, Spectrum & Radio Technology Manager, FWC 2026, to Marlene H. Dortch, Secretary, FCC, INBOX74.24 (filed March 17, 2026), https://www.fcc.gov/ecfs/document/1031706338689/1 (FWC 2026 WC Request).
2/ Low-power auxiliary operations are a subset of BAS operations.
3/ See 47 CFR Sec.Sec. 74.531(a), 74.631(a).
4/ See id. Sec. 74.24(d).
5/ See, e.g., Broadcast Auxiliary Service Frequency Coordinator Designated for the FIFA Club World Cup 2025, 40 FCC Rcd 3932 (WTB & MB 2025) (CWC25 BAS Coordinator Public Notice); Broadcast Auxiliary Frequency Coordinator Designated for the 2024 National Political Conventions and the 2025 Presidential Inauguration, Public Notice, 39 FCC Rcd 6730 (WTB & MB 2024) (2024 BAS Coordinator Public Notice); Auxiliary Broadcast Frequency Coordinator Designated for the 2020 National Political Conventions and the 2021 Presidential Inauguration, Public Notice, 35 FCC Rcd 6988 (WTB & MB 2020) (2020 BAS Coordinator Public Notice); Auxiliary Broadcast Frequency Coordinator Designated for the 2002 Olympic Winter Games in Salt Lake City, UT, Public Notice, 16 FCC Rcd 683 (WTB 2001) (2001 Olympic Games BAS Coordinator Public Notice).
6/ "The Commission may designate a frequency coordinator as the single point of contact for short-term operation under section 74.24 for advance coordination of major national and international events. Once designated, all shortterm auxiliary broadcast use under section 74.24 must be coordinated in advance through the designated coordinator." 47 CFR Sec. 74.24(g)(2). All coordination must be done on a non-discriminatory basis, and all licensees must abide by the decision of the coordinator. The Commission will be the final arbiter of any disputes. See, e.g., Auxiliary Broadcast Frequency Coordinator Designated for the Republican National Convention in Cleveland, Ohio, the Democratic National Convention in Philadelphia, Pennsylvania, and the Presidential Inauguration in Washington, D.C., Public Notice, 31 FCC Rcd 7305 (WTB & MB 2016) (2016 BAS Coordinator Public Notice).
7/ See 2016 BAS Coordinator Public Notice; see also 2020 BAS Coordinator Public Notice at 6989.
8/ See FWC 2026 Request at 2. WC26 will take place across 11 venues in the United States from June 11 to July 19, 2026. Id.
9/ See id. at 2, 5. For example, FWC 2026 anticipates that over 2,700 pieces of equipment, such as interruptible foldback systems for real time communication, wireless intercoms and talkbacks for production crews, and RF audio links for sound mixing and audio routing, will be utilized during WC26 to support over 300 media agencies. Id.
10/ Id.
11/ See, e.g., CWC25 BAS Coordinator Public Notice; 2024 BAS Coordinator Public Notice; 2020 BAS Coordinator Public Notice.
12/ See CWC25 BAS Coordinator Public Notice at 2.
13/ This coordination requirement applies to BAS operators, as well as to providers of other radio services that are permitted to use Part 74 frequencies that will be operating in the designated areas during the applicable time periods. The Commission's rules permit providers of cable television relay service and fixed microwave service to use Part 74 frequencies for temporary fixed, mobile, and portable installations. See 47 CFR Sec.Sec. 78.18, 101.803(b). We remind licensees to consult Federal Aviation Administration flight advisories for national special security events for airspace restrictions or other requirements.
14/ See FWC 2026 Request at 3.
15/ The only WS Database Administrator currently operational is Red Technologies--https://usa.wavedb.com/.
16/ FWC 2026 Request at 3-5. Section 74.802 of the Commission's rules limits operation of LPAS to locations at least four kilometers outside the protected contours of co-channel TV stations. 47 CFR Sec. 74.802(b)(1).
17/ FWC 2026 Request at 4-5.
18/ 47 CFR Sec. 74.861(e)(1)(ii). Specifically, the power in the 470-608 MHz band may not exceed 250 mW conducted power.
19/ FWCC 2026 Request at 5.
20/ Id. at 4.
21/ Id. at 5.
22/ Id. at 3-4.
23/ Id. at 5.
24/ Id. at 3, 5-6.
25/ See CWC25 BAS Coordinator Public Notice; 2024 BAS Coordinator Public Notice; 2020 BAS Coordinator Public Notice; 2001 Olympic Games BAS Coordinator Public Notice.
26/ The references in this Public Notice to the "requested relief" include waivers of section 74.802 and section 74.861.
27/ FWC 2026 Request at 4.
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Original text here: https://docs.fcc.gov/public/attachments/DA-26-438A1.pdf
FTC to Ban Kochava and Subsidiary from Selling Sensitive Location Data to Settle Charges They Sold Location Data Linked to Millions of Mobile Devices
WASHINGTON, May 4 -- The Federal Trade Commission issued the following news release:
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FTC to Ban Kochava and Subsidiary from Selling Sensitive Location Data to Settle Charges They Sold Location Data Linked to Millions of Mobile Devices
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The Federal Trade Commission will prohibit data broker Kochava and its subsidiary from selling, sharing or disclosing sensitive location data without consumers' affirmative express consent to settle allegations the companies sold location data from hundreds of millions of mobile devices that could be used to trace the movements of individuals.
The FTC
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WASHINGTON, May 4 -- The Federal Trade Commission issued the following news release:
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FTC to Ban Kochava and Subsidiary from Selling Sensitive Location Data to Settle Charges They Sold Location Data Linked to Millions of Mobile Devices
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The Federal Trade Commission will prohibit data broker Kochava and its subsidiary from selling, sharing or disclosing sensitive location data without consumers' affirmative express consent to settle allegations the companies sold location data from hundreds of millions of mobile devices that could be used to trace the movements of individuals.
The FTCsued Idaho-based Kochava in August 2022 alleging that its collection, use and disclosure of precise location data invaded consumers' privacy by revealing their movements, including visits to sensitive locations such as health facilities and places of worship. The FTC alleged that because consumers were unaware of and did not consent to this data sharing, consumers had no way of avoiding the harm resulting from its collection and disclosure.
Under the proposed order resolving the FTC's litigation, Kochava and its subsidiary, Collective Data Solutions (CDS), which has taken over Kochava's data broker business, will be prohibited from selling, licensing, transferring, sharing or disclosing sensitive location data in any products or services unless they obtain a consumer's affirmative express consent and the data is used to provide a service directly requested by the consumer. The subsidiary and Kochava (if Kochava sells or uses precise location data) also are required to:
* Establish and implement a sensitive location data program to develop a comprehensive list of sensitive locations to prevent the sale, transfer or disclosure of sensitive location data;
* Implement a supplier assessment program designed to confirm that consumers have provided consent for the collection and use of all location data obtained by the subsidiary or Kochava;
* Submit incident reports to the FTC when the companies determine a third party shared consumers' precise location data in violation of contractual requirements;
* Allow consumers to request the names of any business or individual to which CDS or Kochava has knowledge that consumers' precise location data was sold, and provide consumers with an easy way to withdraw consent for the sale of their device's precise location data; and
* Create a data retention schedule that will require the deletion of data on an established timeframe.
The Commission vote approving the stipulated final order was 2-0. The FTC filed the proposed order in the U.S. District Court for the District of Idaho.
NOTE: Stipulated final orders have the force of law when approved and signed by the District Court judge.
The lead attorneys on this matter are Jennifer Rimm, Erik Jones, Mike Sherling, Elizabeth C. Scott, and Julia Horwitz in the FTC's Bureau of Consumer Protection.
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Original text here: https://www.ftc.gov/news-events/news/press-releases/2026/05/ftc-ban-kochava-subsidiary-selling-sensitive-location-data-settle-charges-they-sold-location-data
CFTC: WSJ Letter to Editor | Prediction Markets Aren't a New Vegas
WASHINGTON, May 1 -- The Commodity Futures Trading Commission issued the following letter to the editor of Wall Street Journal on Prediction Markets Aren't a New Vegas:
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Andy Kessler's "Gambling by Another Name" (Inside View, April 27) distorts reality, so as the head of the federal agency tasked with regulating commodity derivatives markets, I am happy to offer some needed clarification: Under the Commodity Exchange Act, the Commodity Futures Trading Commission holds exclusive authority over prediction markets.
While some may harbor skepticism about innovative financial products, we firmly
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WASHINGTON, May 1 -- The Commodity Futures Trading Commission issued the following letter to the editor of Wall Street Journal on Prediction Markets Aren't a New Vegas:
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Andy Kessler's "Gambling by Another Name" (Inside View, April 27) distorts reality, so as the head of the federal agency tasked with regulating commodity derivatives markets, I am happy to offer some needed clarification: Under the Commodity Exchange Act, the Commodity Futures Trading Commission holds exclusive authority over prediction markets.
While some may harbor skepticism about innovative financial products, we firmlystand by our jurisdiction and remain committed to protecting it. These markets provide significant benefits to individuals, businesses, and the broader economy, and we will continue to ensure their integrity and growth. If we regulate them away like Mr. Kessler wants, then they will continue to grow offshore where there are no rules or guidelines putting our information streams at risk of manipulation by foreign adversaries.
Claims that "insider trading is rampant," and that our insider trading rules are "fuzzier" than others are simply untrue. I've made it clear time and time again that anyone who engages in insider trading will be found and prosecuted to the full extent of the law.
The agency has a proven track record in preventing and enforcing actions against insider trading. During my first 100 days leading the agency, we strengthened and modernized our strategies to address any bad actors in these markets and have brought enforcement actions against those who violated federal laws.
The CFTC continues to serve as a vigilant regulator of prediction markets. These platforms operate as federally regulated exchanges with clearinghouses and comprehensive investor protections, identical to those found in other derivatives markets. Our agency remains dedicated to overseeing these markets thoroughly and responsibly.
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Original text here: https://www.cftc.gov/PressRoom/SpeechesTestimony/seligstatement050126
CFTC Staff Issues Supplemental Letter Regarding No-Action Position on Reporting, Recordkeeping Requirements
WASHINGTON, May 4 -- The Commodity Futures Trading Commission issued the following news release:
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CFTC Staff Issues Supplemental Letter Regarding No-Action Position on Reporting, Recordkeeping Requirements
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WASHINGTON -The Commodity Futures Trading Commission's Division of Market Oversight and Division of Clearing and Risk today announced they have taken a no-action position regarding swap data reporting and recordkeeping regulations.
The divisions will not recommend the Commission initiate an enforcement action against Railbird Exchange, LLC, a designated contract market, and Bitnomial
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WASHINGTON, May 4 -- The Commodity Futures Trading Commission issued the following news release:
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CFTC Staff Issues Supplemental Letter Regarding No-Action Position on Reporting, Recordkeeping Requirements
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WASHINGTON -The Commodity Futures Trading Commission's Division of Market Oversight and Division of Clearing and Risk today announced they have taken a no-action position regarding swap data reporting and recordkeeping regulations.
The divisions will not recommend the Commission initiate an enforcement action against Railbird Exchange, LLC, a designated contract market, and BitnomialClearinghouse, LLC, a derivatives clearing organization, or their participants for failure to comply with certain swap-related recordkeeping requirements and for failure to report to swap data repositories data associated with fully collateralized event contract transactions executed on or subject to the rules of Railbird and cleared through Bitnomial.
Additionally, the supplemental letter removes the condition in CFTC Letter No. 25-26 that prohibited Railbird's participants from clearing contracts through a third-party clearing member. This no-action position is subject to the terms of the no-action letter issued today.
This position is in response to a request from Railbird and Bitnomial, to modify CFTC Letter No. 25-26 to cover transactions cleared through Bitnomial and remove the condition prohibiting third-party clearing by participants.
-CFTC-
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Original text here: https://www.cftc.gov/PressRoom/PressReleases/9226-26
