FIA EVENTS » 3/11 - 3/14 FIA 34th Annual International Futures Industry Conference - Boca 2009 » 6/9 - 6/10 IDX: International Derivatives Expo DIVISION EVENTS » 5/13 - 5/15 L&C 2009 View FI Calendar FOX Business TV interview with FIA President John Damgard                   To view the Flash Version click here         To view the Windows Media Player Version click here         To view the QuickTime version click here         Please be aware these are large video files and might take several minutes to download!         FIA Submits Comment Letter on JAC Operating Agreement Washington, – Nov. 13, 2008 – The Futures Industry Association has submitted a comment letter to the Commodity Futures Trading Commission on the Joint Audit Committee Operating Agreement that would change the system for auditing futures commission merchants for compliance with industry regulations. This system, an important component of self-regulation, determines which exchange has the responsibility for conducting audits as an FCM’s “designated self regulatory organization” or DSRO. The proposal was submitted by the Joint Audit Committee, a voluntary organization comprised of representatives of the financial surveillance staff of designated contract markets and the National Futures Association that coordinates the monitoring and examination of their member firms. The JAC proposal, if approved by the CFTC, would replace the current operating agreement, which has been in effect since 1984.  The Futures Industry Association’s letter calls for the CFTC to reevaluate the mission of the JAC and the methodologies set forth in the Operating Agreement for fulfilling that mission in light of the current structure of the futures industry. Download PDF Version of the letter FIA Joins Coalition Urging President-Elect Obama to Continue China Dialogue The FIA has joined with a coalition of U.S. financial services trade associations in urging President-Elect Barack Obama to continue the framework of regular communication with senior Chinese officials that has been established by the Bush administration. In a letter sent to Obama on Nov. 6, 2008, the coalition asked him to show his support for the continuation of this policy by sending a senior advisor to participate with Treasury Secretary Paulson at the fifth round of the Strategic Economic Dialogue on Dec. 4-5 in Beijing. The letter was sent by the Engage China coalition, which includes in addition to the FIA the American Bankers Association, American Council of Life Insurers, American Insurance Association, Bankers Association for Foreign Trade, Council of Insurance Agents and Brokers, Financial Services Forum, Financial Services Roundtable, Investment Company Institute and Securities Industry and Financial Markets Association. To view the PDF  version of the letter to President-Elect Obama click here Futures Coalition Urges FTC to Respect CFTC Jurisdiction             Washington, D.C.--Oct. 17, 2008--A coalition of futures exchanges, brokers and market users has urged the U.S. Federal Trade Commission to revise its proposed new anti-manipulation rules for wholesale purchase and sale transactions in crude oil, gasoline and petroleum distillates to avoid conflicting with the exclusive regulatory jurisdiction of the Commodity Futures Trading Commission as well as the CFTC’s existing anti-manipulation and anti-fraud standards already enforced for U.S. futures trading. The coalition consists of the Futures Industry Association, CME Group, Managed Funds Association, Intercontinental Exchange and National Futures Association.             In a comment letter submitted to the FTC on Oct. 17, 2008, the coalition asked the FTC to provide a “safe harbor” from the prohibitions in the FTC proposed rule where the alleged misconduct “occurs solely with respect to futures trading activities.” This safe harbor should confirm, the coalition said, that nothing in the FTC’s new rules would govern or apply with respect to transactions involving futures and options markets and other trading instruments that are subject to CFTC exclusive jurisdiction.             In addition, the coalition urged the FTC to exclude agricultural commodities used in the production of ethanol as well as ethanol itself from coverage under its anti-manipulation rules, and to impose specific intent and price effects requirements as elements of an offense under the FTC rule. To read the document please click here FIA Seeks Extension of Time on JAC DSRO Proposal Washington, D.C.—Oct. 9, 2008—The Futures Industry has asked the Commodity Futures Trading Commission to extend the deadline by 30 days for commenting on a proposal filed by the Joint Audit Committee, a voluntary organization comprised of representatives of the financial surveillance staff of designated contract markets and the National Futures Association that coordinates the monitoring and examination of their member firms. The proposal would change the system for determining which exchange has the responsibility for conducting audits as a futures commission merchant’s “designated self regulatory organization” or DSRO. The JAC proposal, if approved by the CFTC, would replace the current operating agreement, which has been in effect since 1984. The proposal effectively would limit voting powers to CME Group and NFA, and provides no means for FCMs to participate in the selection of their DSROs. For the letter please click here eClips Everyday by 9AM EST   Friday, November 21 New York regulator halts plans to oversee CDS market  159  Harkin Seeks To Force Derivatives Onto Exchanges  103  Regulators to discuss short selling rules  63  Derivatives traders to disclose their netting  52  Fuld replacement named at Lehman Brothers  48  Financial Job Losses May Double to 350,000 by 2009  40  Listed derivatives boosted by need for transparency  39  Agencies cooperate on credit default swaps market  36  Global 'bloodbath' as banks slash back workforce  36  Derivatives trading gains ground in Poland  31  JPMorgan May Fire 10 Percent of Investment Bank Staff  31  Citigroup Urging SEC to Bring Back Short-Selling Ban  27  Basel outlines stricter limits for banks’ capital  25  Citi man to head KKR in India  24  VIX Surges to Record as Options Traders Bet on Citigroup Losses  24  Treasury secretary calls for hedge fund oversight  23  D Börse to launch hybrid ‘dark pool’ facility  21  Treasury to Support a Frozen Money Fund  21  Sarkozy launches a new rescue fund  19  Investors keen on structuring alternatives  19    Thursday, November 20 CME names managing director of clearing  238  ICE Futures cuts trading hours for certain futures, options  137  Fear and Loathing in the Options Market  109  Deleveraging Must Continue  79  Glitzy Greenwich feels hedge fund pain  79  Citigroup’s Gross, Top Options Strategist, Exits Amid Job Cuts  71  CME names managing director for clearing initiatives  68  Dubai's new derivatives exchange off to slow start  66  Chicago bourse trades US cap and trade contracts  60  Record Options Trading Slows After Hedge Funds Fold  59  Read More E-clips » E-clips users: Please note that these news stories are drawn from independent sources. The FIA does not verify or endorse any of these articles, and takes no responsibility for their contents. Please contact Will Acworth at the FIA if you have any questions or suggestions regarding this service. (202) 466-5460