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CFTC Division of Enforcement Touts ‘Vigorous’ Year in First Annual Report
On November 14, 2018, the Commodity Futures Trading Commission Division of Enforcement released an annual report, which confirms that the past fiscal year has been among the most vigorous in the commission's history. The report highlights numerous records set over the past year in pursuit of the commission's enforcement goals.
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Film Financings and Problems In Copyright Perfection
For most movie productions, financiers provide funding in return for proceeds from the film, which typically are secured by a lien on the underlying work’s copyright. Unfortunately, the law on how to perfect a lien in a copyright application is foggy at best.
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CFTC Proposes Swap Execution Facility Rule Amendments and Seeks Comments on Post-Trade Name Give-Up
At an open meeting held earlier this month, the Commodity Futures Trading Commission approved (by a 4-1 vote) proposed amendments to the rules governing swap execution facilities (SEFs) and the trade execution requirement. The sweeping changes aim to: (i) increase the number of swaps being traded on SEFs, (ii) increase the number of SEFs registered with the Commission (including voice brokers); and (iii) afford a SEF more flexibility on methods of trade execution and which types of market participants may access the SEF’s markets and market services. The Commission provided a 75-day comment period and also unanimously requested separate public comment within 60 days on the practice of post-trade name give-up on SEFs for a swap that is executed anonymously on the SEF and is intended to be cleared.
