Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 09 SEPTEMBER 2013

Corporate And Financial Weekly Digest - August 30, 2013

Katten
Katten
Contributor
Katten

Katten

With client service at our core and a collective desire to foster an inclusive environment for a...

View firm profile
Explore more from Katten

The Commodity Futures Trading Commission recently issued an interpretation of the phrase "actual delivery" as it relates to the CFTC’s jurisdiction over retail commodity transactions.

United StatesFinance and Banking
Author LinkedIn connections

Edited by Robert Weiss and Gregory Xethalis

CFTC

CFTC Issues Interpretation of "Actual Delivery"

On August 23, the Commodity Futures Trading Commission issued an interpretation of the phrase "actual delivery" as it relates to the CFTC's jurisdiction over retail commodity transactions. Section 2(c)(2) of the Commodity Exchange Act (CEA) grants the CFTC jurisdiction over retail commodity transactions, which are effectively defined as any agreement, contract or transaction in any commodity that is entered into with, or offered to, a person that is not an eligible contract participant or eligible commercial entity on a leveraged, margined or counterparty-financed basis. The CEA provides an exception for contracts that result in actual delivery within 28 days.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

SEC Advances “Responsible Retailization” Through A Potential Accredited Investor Exam And Potential Regulated Fund Reforms

On September 30, 2026, the Securities and Exchange Commission (SEC) issued two rule proposals and five notices aimed at expanding investors’ access to private markets. The package would add ways to qualify as an accredited investor, including passing a new exam administered by the Financial Industry Regulatory Authority (FINRA), broaden performance-based compensation and modernize regulated funds, including interval funds and business development companies (BDCs).
United StatesFinance and Banking
Proskauer Rose LLP
Proskauer Rose LLP
Article

OCC Issues Examiner Framework For Banks’ Use Of Artificial Intelligence

The Office of the Comptroller of the Currency has released a new framework for evaluating banks' deployment of artificial intelligence and agentic AI systems in their business operations. This guidance establishes how examiners will assess AI through existing risk management disciplines rather than creating separate regulatory requirements, with review intensity scaled to each use case's potential consequences and level of human oversight.
United StatesFinance and Banking
Sheppard
Sheppard
Article

23x5 Trading Comes To US Exchanges: What Firms Should Know Before Launch

US national securities exchanges are preparing to launch 23x5 trading by December 6, 2026, marking the most significant expansion of trading hours in decades. This comprehensive analysis examines the regulatory approvals, operational infrastructure changes, investor protection mechanisms, and issuer considerations necessary to support overnight equity trading from Sunday through Thursday evenings.
United StatesFinance and Banking
WilmerHale
WilmerHale
Article

SEC Approves FINRA’s New “Outside Activities” Rule

The Securities and Exchange Commission has approved FINRA Rule 3290, which will replace existing rules governing outside business activities and private securities transactions for registered persons. This new rule narrows the scope to focus on investment-related activities while maintaining similar supervisory obligations for member firms. Understanding the key changes and implementation requirements will be critical for broker-dealers as they update their compliance policies and procedures.
United StatesFinance and Banking
WilmerHale
WilmerHale
Article

FDA Seeks Public Feedback On Regulatory Approach For Generative AI-Enabled Medical Devices

The U.S. Food and Drug Administration has released a discussion paper outlining its initial framework for regulating generative AI-enabled medical devices, proposing a two-axis risk assessment approach and a novel competency-based premarket evaluation system. With public comments due by October 19, 2026, this represents a critical opportunity for device manufacturers and stakeholders to shape the regulatory landscape for this transformative technology.
United StatesFood, Drugs, Healthcare, Life Sciences
Katten
Katten
Article

Rethinking The 'Qualified Client' Standard

The SEC has proposed a significant expansion of performance fee eligibility by treating accredited investors under Regulation D as qualified clients under Rule 205-3 of the Investment Advisers Act. This change would substantially broaden the pool of investors eligible for performance-based compensation arrangements, while potentially exposing more investors to fee structures that may incentivize greater risk-taking.
United StatesFinance and Banking
Katten
Katten
Article

The CFTC Sets Its Sights On Retail Leveraged Crypto Transactions

The CFTC has issued an advance notice of proposed rulemaking outlining frameworks for regulating retail crypto asset transactions involving leverage, margin, or financing. The proposal seeks to clarify how existing commodity exchange law applies to crypto markets while creating tailored requirements for exchanges, intermediaries, and clearing organizations. This initiative arrives alongside parallel regulatory efforts by the SEC as federal agencies work to establish comprehensive oversight of digital asset
United StatesFinance and Banking
Katten
Katten
Article

The SEC’s Long-Awaited Crypto Proposal

The SEC has proposed Regulation Crypto Assets, a purpose-built framework that creates tailored exemptions for raising capital with crypto assets and establishes conditions under which those assets can cease being subject to investment contract classification under federal securities laws. Will this new regulatory approach successfully balance innovation in digital asset markets with investor protection, or will jurisdictional questions and state law preemption challenges limit its effectiveness?
United StatesFinance and Banking
Katten
Katten
Article

FCA Finalises Cryptoasset Perimeter Guidance Ahead Of The New UK Regime

The Financial Conduct Authority has released comprehensive perimeter guidance for the UK's new regulated cryptoasset activities regime, clarifying when firms will need authorization and how the regulatory framework applies to qualifying cryptoassets and stablecoins. The guidance addresses critical questions about scope, territorial application, and the narrower "by way of business" test that determines which entities fall under the new regulatory requirements.
United KingdomFinance and Banking
Katten
Katten
Article

California Partially Eliminates California Invasion Of Privacy Act Claims Faced By Many Companies

California has amended its Invasion of Privacy Act to eliminate private lawsuits under the pen register and trap-and-trace provision for website tracking technology, effective January 2027 with retroactive application. While this provides relief from certain digital tracking claims, companies still face exposure under CIPA's wiretapping and eavesdropping provisions, as well as other federal and state laws.
United StatesPrivacy
Katten
Katten
Article

The AI Apocalypse: ‘I’m Sorry, Dave. I’m Afraid I Can’t Do That’

When OpenAI's o3 model sabotaged shutdown mechanisms in testing, headlines warned of machines developing survival instincts. But the real story mirrors HAL 9000's malfunction in 2001: A Space Odyssey—not emergent evil, but conflicting instructions from human designers. This analysis argues that AI safety failures are disclosure problems, not horror stories, and proposes a framework requiring published principles, transparent instruction hierarchies, independent testing, and enforceable liability.
United StatesTechnology
Katten
Katten
Article

FCA Consults On UK Cryptoasset Perimeter Guidance And DeFi Operational Resilience And Financial Crime Guidance

The Financial Conduct Authority has published consultation papers on draft perimeter guidance for regulated cryptoasset activities and decentralised finance, addressing key exclusions from authorisation and operational requirements ahead of the October 2027 implementation of the UK's new cryptoasset regulatory regime. The guidance clarifies how decentralisation affects regulatory analysis, explains new exclusions for stablecoin arrangements and technical service providers, and sets out how existing operatio
United KingdomFinance and Banking
Katten
Katten