Future Regulation

We represent virtually all types of businesses and industry professionals in the commodity futures industry. Our clients include introducing brokers, futures commission merchants, commodity trading advisors and commodity pool operators, floor brokers, floor traders and entities seeking CFTC registration as derivatives clearing organizations. Our representation normally includes all facets of regulation and litigation related to futures industry firms and professionals. Additionally, we represent industry professionals in registration or membership denial actions, member to member arbitrations, and customer-member disputes at every forum including CFTC reparations, federal and state court, the exchanges and NFA. We counsel energy traders on compliance with the Federal Power Act as well as the Commodity Exchange Act.

We understand the businesses and objectives of our clients and strive to tailor our services to their unique business models. We regularly form and continually advise commodity pools and trading advisors on the several regulatory exemptions that may apply to their structures, and we have the experience on the securities side for those hedge funds and advisors which trade both futures and securities products.

We provide our futures industry clients with services such as broker-dealer formation and continuing representation, and we regularly advise both retail broker-dealers as well as exchange regulated proprietary market-making firms in a wide variety of matters. Representative matters include:

  • Formation of master-feeder commodity pools.
  • Defense of a market manipulation investigation.
  • Defense of a future exchange member whose floor broker registration was denied due to a prior felony.
  • Formation of a start-up futures commission merchant seeking to become an exchange clearing member.
  • Advising non-registered pool operator on available exemptions.
  • Preparation of no-action letter seeking assistance on behalf of commodity pool trading options on stock futures.
  • Representation of an exchange in bankruptcy related matters.