Financial Accounting, INFORMATION FOR DECISIONS, 9e [9 ed.]

Wild's FINANCIAL ACCOUNTING addresses the topics and issues typically covered in Financial Accounting while at the

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Wild
John J

Table of contents :
Part I, Regulators. REGULATION OF TRADING AND CONTRACT MARKETS / Division of Trading and Markets. Legal developments affecting market regulation / Office of the Chief Counsel. Overview of legal developments. New disclosure requirements for commodity pool operators and commodity trading advisors --
Risk assessment rules - enhancement of the Commission's financial surveillance program --
Proposal to amend rules requiring ethics training for registrants --
Issues addressed in important interpretive and exemptive letters. Registration, disclosure and account authorization requirements applicable to third party advisors, IBs and APs --
Account statements --
Guarantee agreements --
IB registration relief granted when CTA receives per trade compensation --
Information services company required to register as a CTA but not as an IB --
Registered investment advisers and investment companies provided limited relief from registration --Relief from registration as an AP of certain foreign parties --
Account classification --
Disclosure documents --
CPO and CTA registration relief to operating company with "de minimis" commodity trading --
Advisory - accounting principles governing relations between FCMs and their IBs and APS --
Appendices. Final rule adopting amendments to pool operator and commodity trading advisor disclosure rules, 60 Fed. Reg. 38146 (July 25, 1995) --
Important interpretive and exemptive letters. CFTC letter No. 95_ _ _, Oct. 12, 1995 (Registration, disclosure and account authorization requirements applicable to third party advisors, IBs and APS) --
CFTC letter No. 95-11, Feb. 9, 1995 (Account statements) --
CFTC letter No. 95-37, Nov. 23, 1994 (Guarantee agreements) --
CFTC letter 95-42, March 23, 1995 (IB registration relief granted when CTA receives per trade compensation) --
CFTC letter 95-51, May 1, 1995 (Information services company required to register as a CTA but not as an IB) --
CFTC letter 95-67, July 26, 1995 (Registered investment advisers and investment companies provided limited relief from registration) --
CFTC letter 95-73, Aug. 24, 1995 (Relief from registration as an AP of certain foreign parties) --
CFTC letter No. 95-47, Apr. 25, 1995 (Account classification) --
CFTC letter No. 95-62, June 21, 1995 (Disclosure documents) --
CFTC letter No. 95-27, Feb. 16, 1995 (CPO to CTA registration relief to operating company with "de minimis" commodity trading --
Oversight of contract markets, contract markets section. Summary of significant activities. Actions related to new trading mechanisms or the enhancement of commission and SRO regulator programs --
Rule review --
Rule enforcement --
Appendices. CFTC Futures Exchange Audit Trails (November 1994) (excerpt from report to Congress) --
CFTC Computerized Trading (November 1994 (except from report to Congress) --
CFTC Audit Trail Accuracy and Sequencing Tests (June 1995) (excerpt from study assessing exchange compliance with statutory audit trail standards) --
Exemption from heightened audit trail requirements for certain small exchanges (excerpt from undated staff memorandum recommending the exemption) --
Diversity of Representation on Self-Regulatory Organization Governing Boards (October 1995) (excerpt from report to Congress) --
No-action letters to Goldman, Sachs & Co. regarding requests to bunch orders, issued May 26, 1995 and July 17, 1995 --
Chicago Mercantile Exchange proposal to establish a Principal Market Maker system - CFTC staff memorandum recommending approval (Feb. 27, 1995) --
Chicago Board of Trade proposal to expand its automatic trading system, Project A-CFTC staff memorandum recommending approval (Sept. 15, 1994) --
Coffee, Sugar & Cocoa Exchange proposal for customer restitution-CFTC staff memorandum recommending approval (July 24, 1995) --
National Futures Association proposal requiring commodity pool disclosure documents to include a "break-even analysis"-CFTC staff memorandum recommending approval (Apr. 26, 1995) --
Accounting developments, Audit and Review Section. Summary of significant activities. Actions related to accounting and disclosure standards and the enhancement of Commission and SRO regulatory programs --
SRO oversight --
Appendices. Advisory No. 95-44 - Instant filing procedure for commodity pool and commodity trading advisor documents (Apr. 20, 1995) --
Financial and segregation interpretation No. 14-Accounting for deposits and contractual obligations between an FCM and its introducing brokers and associated persons (July 18, 1995) --
Letter denying relief under Commission regulation 1.17(c)(5)(iii)-Charge against an FCM's net capital for customers' short option positions (July 26, 1995) --
Memorandum of understanding creating a unified clearing group (Sept. 7, 1995) --
Financial and segregation interpretation No. 4-1, Addendum B-Coordinating financial rule enforcement programs by SROs over dually-registered firms (Sept. 16, 1995) --
OFF-EXCHANGE DEVELOPMENTS / Off-exchange Task Force. Promulgation of 17 CFT part 26, establishing a three-year pilot program to permit certain transactions to trade on section 4(c) contract markets exempt from specified requirements of the CEA and Commission Rules, 60 Fed. Reg. 51323 (Oct. 2, 1995) (Final rules) --
Significant jurisdictional cases (headnotes). Cases distinguishing futures and forwards. In re Stovall, slip op. No. 75-7 reported at [1977-1980 transfer binder] Comm. Fut. L. Rep. (CCH) Par. 20,941 (CFTC Dec. 6, 1979) --
CFTC v. Copetro, 690 F.2d 573 (9th Cir. 1982) --
Chicago Mercantile Exchange v. SEC, 883 F .2d 537 (7th Cir. 1989) --
Bybee v. A-Mark, 945 F .2d 309 (9th Cir. 1991) --
CFTC v. Noble Metals International, Inc., slip op. Nos. 93-16961 and 93-17285 (9th Cir. Sept. 26, 1995) --
Treasury amendment cases. CFTC v. Sterling Capital Co., [1980-1982 Transfer binder] Comm. Fut. L. Rep. (CCH) 21,169 (N.D. Ga. 1981) --
CFTC v. American Board of Trade, 803 F. .2d 1242 (2d Circ. 1986) --
Salomon Forex, Inc. v. Tauber, 8 F .3d 966 94th cir. 1993) --
CFTC v. Standard Forex, Inc., [1992-1994 Transfer binder] Comm. Fut. L. Rep. (CCH) 26,063 (E.D. N.Y. Aug. 9, 1993) --
CFTC v. Dunn, 58 F .3d 50 (2d Circ. 1995) --
CFTC v. Frankwell Bullion, Otd., 2 Comm. Fut. L. Rep. (CCH) 26,484 (N.D. Cal. Aug. 14, 1995) --
Off-exchange trading issues : evolution of CFTC exemptive authority --
ECONOMIC FACTORS AFFECTING MARKETS / Division of Economic Analysis. Newly designated contracts (Dec. 1, 1994 - Oct. 10, 1995) --
New contracts of significance. Crop yield insurance futures and options for Illinois soybeans, Iowa corn, and Kansas winter wheat (CBOT Feb. 23, 1995) --
Mexican peso futures and options (Reactivation of dormant futures contract and new designation of options contract) (CME Apr. 24, 1995) --
PCS catastrophe insurance options on physicals (CBOT Sept. 29, 1995) --
Notices of availability of the terms and conditions of proposed commodity futures and futures options contracts. Application of the New York Cotton Exchange as a contract market in futures and futures options on the emerging market debt index (June 16, 1995) --
New York Mercantile Exchange proposed electricity futures contracts for delivery at the California Oregon border and Palo Verde, Arizona (Aug. 31, 1995) --
Applications of the Chicago mercantile Exchange as a contract market in Mexico 30 Stock Index futures and options contracts (Sept. 6, 1995) --
Report of the implementation of interim final increases to federal speculative position limits for agricultural commodities --
Reports by futures commission merchants, members of contract markets and foreign brokers - proposed rules (60 Fed. Reg. 31653 (June 16, 1995) --
INTERNATIONAL DEVELOPMENTS / International Markets Program, Division of Trading and Markets and Office of the General Counsel. Overview of significant activities. Program description --
International policy coordination --
Regulation development, implementation and compliance --
Information sharing --
Assistance to emerging markets --
Representation in international organizations and conferences --
Office of General Counsel no-action letters for foreign stock index futures contracts --
Appendices. Windsor meeting documents: (1) Declaration, 2) Discussion paper on cooperation between market authorities and (3) Discussion paper on default procedures (may 1995) --
Report and recommendations from the Co-Chairmen of the May 1995 Windsor meeting to the Technical Committee of IOSCO (July 1995) --
Order pursuant to Commission Rules 30.3 and 30.10 (authorizing certain options contracts traded on a Spanish exchange to be offered and sold within the United States), 60 Fed. Reg. 30462 (June 9, 1995) --
Backgrounder, foreign instrument approvals exemptions (October 1995) (listing foreign jurisdictions granted comparability relief under Commission rule 30.10) --
Order pursuant to Commission Rule 30.3 (authorizing the listing of additional foreign options at a market, MATIF, previously granted relief under Rule 30.3), 60 Fed. Reg. 34458 (July 3, 1995) --
Advisory 5-95 (Jan. 25, 1995) (allowing orders to be transmitted to foreign firms that do not have Rule 30.10 relief) --
Training seminar schedule (Oct. 16-20, 1995) --
CFTC, International regulation of markets, products and financial intermediaries (1995 ed.) (outline of contents) --
No-action letter, Deutsche Terminborse futures contract based on the Deutscher Aktienindex (Dec. 20, 1994) --
No-action letter, Italian Stock Exchange Council's request for a no-action letter for the Italian derivatives Market's MIB 30 futures contract (Aug. 30, 1995) --
1995 IN REVIEW : OPINIONS IN FISCAL YEAR 1995 BY THE COMMODITY FUTURES TRADING COMMISSION RESOLVING ADMINISTRATIVE APPEALS / Office of the General Counsel. Cases decided during fiscal year 1995 --
Summary of significant cases --
Full text of principal cases decided. In re Dickstein, 90-29 (May 30, 1995) --
In re Miller, 92-4 (June 16, 1995) --
Alexander v. First Sierra Commodity Corp., et al. 93-R129 (July 27, 1995) --
Do v. Lind-Waldock & Company, 93-R057 (Sept. 27, 1995) --
APPELLATE LITIGATION / Office of the General Counsel. Summary of the Commission's appellate caseload in fiscal year 1995 --
Staff memoranda analyzing recent significant decisions. Staff memorandum analyzing JCC, Inc. v. CFTC, No. 94-4561 (11th Cir. Sept. 15, 1995) (addressing the decision's new holdings in the areas of controlling person liability and civil penalty sanctions) --
Staff memorandum analyzing CFTC v. Noble Metals International, Inc., No. 93-17361 (9th Cir. Sept. 26, 1995) (discussing the decision's reaffirmation of the jurisdictional principles established in CFTC v. Co petro Mktg Group, Inc., 680 F .2d 573 (9th Cir. 1982) --
Staff memorandum analyzing CFTC v. Dunn No. 94-6197 (2d. Cir.) (June 23, 1995) (addressing the CFTC's jurisdiction to regulate off-exchange foreign currency options --
ENFORCEMENT ACTIVITIES / Division of Enforcement. Overview of significant activities. Program description --
Cases filed during fiscal 1995. Cases involving allegations of fraud --
Unlawful off-exchange instrument cases --
Cases involving alleged misconduct on an exchange floor --
internal controls --
Financial and supervision cases --
Cases involving fraudulent conduct by registered and unregistered pool operators and commodity trading advisors --
Registration and fitness proceedings --
International matters --
Criminal referral and assistance --
Recent litigation developments --
Appendices. Significant orders. In re MG Refining and Market, Inc. and MG Futures, Inc., 95-14 (July 27, 1995) --
In re Prudential Securities, Inc., 95-13 (June 19, 1995) --
In re Roberts, 95-16 (Aug. 10, 1995) --
In re BT Securities Corp., 95-3 (Dec. 22, 1994) --
CFTC cooperative enforcement arrangements --
RECENT LEGISLATIVE AND ADMINISTRATIVE DEVELOPMENTS AFFECTING THE WORK OF THE COMMISSION / Office of the Executive Director, Office of the General Counsel. Status of Agency funding and selected activities --
CFTC organization chart --
Registration Review Committee --
Municipalities' use of derivatives and related issues : status of pending state legislation --
Part II, PRIVATE PRACTITIONERS AND INDUSTRY. Civil litigation developments / by Joseph P. Collins, Howard J. Roin and Tarek Ismail --
Internal controls / by Barry J. Mandel --
Supervisory liability : issues and practical concerns for FCM's / by James A. Tricarico, Jr. and Lisa J. Rosenbaum --
Managed futures association / by John G. Gaine --
Developments in offshore funds / by Fred M. Santo --
Need for internal compliance and control procedures for commodity pools : CFTC Pt 4 implementation issues / by Edwin L. Lyon --
MFA proposals to amend the Investment Company Act and the Investment Advisers Act / by Emily M. Ziegler --
Resolution of disputes between customers and CFTC registrants / by Stephen F. Selig --
Settlement of enforcement proceedings : the "speaking order" / by Edmund R. Schroeder --
CFTC oversight of exchange trading activity / by Stephen B. Braverman --
The CFTC market surveillance program / by John Mielke --
Recent actions taken by CFTC regarding exchange audit trails / by Alan L. Seifert and De'Ana H. Dow --
On-exchange trading : international issues / by Lawrence H. Hunt Jr. --
Reform of the Commodity Exchange Act / by Jarold E. Salzman --
Speakers's biographies.