CFTC aims to clarify murky futures extraterritoriality rules
Acting chair Pham says she wants to fix confusion created by last year’s Falcon Labs order
The Commodity Futures Trading Commission’s new acting chair says the agency plans to revisit the extraterritoriality of its futures rules, in the wake of its controversial Falcon Labs order last year, which significantly extended the agency’s regulatory reach.
The CFTC’s futures rules – dating back to 1987 – had tended to define the US persons under its regulatory scope by their geographic location. But the May 2024 enforcement order against Seychelles-based Falcon Labs effectively extended its
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