Regulation of Derivatives (LAW-743-001)
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The universe of commodities and derivatives users is large and diverse. As a result, in addition to commodities and derivatives law specialists, legal practitioners from a wide variety of other practice areas, including securities, tax, energy, bankruptcy, and international business, will encounter these products and financial instruments in their work.
This course is designed as a “Commodities and Derivatives 101” equivalent, providing a broad overview of the regulation of commodities and derivatives from a U.S. legal perspective that will serve as a foundation for more advanced coursework and reading. Topics include the jurisdiction of the Commodity Futures Trading Commission (CFTC), analysis of the Commodity Exchange Act (CEA) and CFTC regulations, including the regulation of commodity market participants and the administrative and enforcement powers of the CFTC. As set forth below, the course is organized along the same lines as the regulatory environment for derivatives: (1) Products, (2) People, and (3) the Places derivatives are traded.
Textbooks and Other Materials
The textbook information on this page was provided by the instructor. Students should use this information when considering purchases from the AU Campus Store or other vendors. Students may check to determine if books are currently available for purchase online.
There is no textbook for this class. The readings will be posted on the course’s webpage or will be available on the internet. We will post any PowerPoint presentations used in class. A conversion of CEA sections to US Code citations is available at: https://www.cftc.gov/LawRegulation/ceaconvchart.html
First Class Readings
- Merrill Lynch, Pierce, Fenner & Smith v. Curran, 456 U.S. 353, 357-367 (1982)
- Browse http://www.cftc.gov/About/HistoryoftheCFTC/index.htm
- Commodity Exchange Act (CEA), 7 U.S.C. §1(a) (definitions), §2(a)(1)(A) (exclusive jurisdiction), §5 (federal interest in the regulation of derivatives)
- Hunter v. FERC, 711 F.3d 155 (DC Cir. 2013)
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