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Joseph Cerullo: Profile of a Chief Compliance Officer

The Dodd-Frank Wall Street Reform and Consumer Protection Act mandated the designation of chief compliance officers for futures commission merchants (FCMs), swap dealers and major swap participants. Joseph Cerullo is chief compliance officer for J.P. Morgan’s FCM and U.S. swap dealers. In this profile, he discusses his role, how it has evolved along with market changes in the listed and OTC derivatives space and the challenges that lie in store.

Boss Trump Makes America Great Again!

Our top five posts of 2018

The Cloud Is Now: Why 2019 Is the Year to Go Cloud-First

[Infographic] The Collateral Management Ecosystem – Is a Collaborative Approach Working?

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The Collateral Management Ecosystem – Is a Collaborative Approach Working?”]

How The Brexit Stole Thanksgiving!

Blockchain update – regulator comments and more initiatives

There have been several developments in the area of blockchain and Distributed Ledger Technology (DLT) use, including regulatory aspects, since our last post on the topic here.  For example this article on the Global Custodian  web site reports that DTCC have managed to handle increased volumes using blockchain, initially for settlement. At the same time, … Continue reading

5 months to Brexit – EMIR announcements, the US joins the fight, UK ETS replacement

In 5 months’ time, the UK will no longer be part of the European Union. With no deal agreed at this stage, many are now preparing for a “hard Brexit” scenario. There have been a few developments since our last post on the topic here. EMIR The UK Government has now published a draft Statutory … Continue reading

Vitol receives €5m REMIT fine

Vitol SA has received a fine of €5m levied by the Commission de régulation de l’énergie (CRE), the French National Regulatory Authority for a breach of REMIT. The fine is levied for “sending misleading price signals” by placing “phantom orders” in the PEG Sud  market on multiple occasions. The press release in English can be found here and … Continue reading

New MiFID II position limits opinions issued by ESMA and other related updates

ESMA has issued “opinion” documents on three MiFID II position limits, which relate to limits already published by National Competent Authorities. They are: ICE Natural Gas Futures – here EEX Swiss Power Baseload Contracts – here EEX Phelix DE/AT Baseload Power Contracts – here The spreadsheet published by ESMA showing all opinions so far together … Continue reading

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