On May 5, the Commodity Futures Trading Commission (CFTC) announced that it had issued an Order of Registration to Mercado Mexicano de Derivados, S.A. de C.V. (MexDer), a Foreign Board of Trade (FBOT) and subsidiary of the Mexican Stock Exchange located in Mexico City, Mexico. Under the order, MexDer’s members and other US participants will be permitted to enter orders directly into MexDer’s trade matching system. MexDer satisfied CFTC requirements for FBOT registration by demonstrating that: It possesses the attributes of an established, organized exchange; and It is subject to comprehensive oversight by its home country regulator whose supervision is…
On May 3, the Division of Clearing and Risk (DCR) of the Commodity Futures Trading Commission (CFTC) published Staff Letter No. 21-13 (Staff Letter), providing CX Clearinghouse, L.P. (CX) with no-action relief from specified Part 39 regulations applicable to derivatives clearing organizations (DCO). As a registered DCO, CX is subject to Regulation 39.15(d), which requires a DCO to have rules requiring the DCO to promptly transfer all or a portion of a customer’s portfolio of positions and related funds as necessary from the customer’s carrying clearing member to another clearing member, without requiring the close-out and re-booking of the positions…
McDonald’s is currently facing multiple class action lawsuits for allegations of sexual harassment and systemic racial discrimination. In a news segment covered by VICE News, multiple employees and black franchise owners came forward to discuss the issues within the company. This is one of the many lawsuits the global food service retailer has faced in the past. In fact, the sexual harrasment suit is one of 50 charges that has been filed against the corporation since 2015. The video segment reveals that McDonald’s has declined “multiple requests” for on camera interviews and has denied “any wrongdoing” in court filings.…
When you’re ready to hire a mediator the mediator will likely present everyone who is coming to the mediation with an agreement to sign before the mediation begins. For non-lawyers this written contract might appear to have a lot of legal terms that might make it seem like you need a lawyer to advise you before you sign on so I thought I’d point out the key terms you’re likely to see in the mediator’s agreement to make this next step a little less imposing. Typically the agreement with the mediator will name everyone who intends to participate in the…
On April 28, the Division of Data of the Commodity Futures Trading Commission issued a renewal of the temporary no-action relief available to entities (Relief Counterparties) that submit certain swaps for clearing by derivatives clearing organizations that operate pursuant to CFTC exemptive orders or staff no-action letters (Relief DCOs). CFTC Letter No. 21-12 extends relief available to Relief Counterparties from requirements to terminate original “alpha” swaps and report swaps between the Relief Counterparties and the Relief DCOs, as well as for counterparties from reporting certain primary economic terms data fields for swaps intended to be cleared by a Relief DCO,…
Throughout the pandemic, there has been a good deal of debate surrounding the legality of enforcing mask mandates in the workplace and whether or not employers can mandate vaccinations. The most recent issue that has arisen as the end of the pandemic comes into sight is regarding whether employers can force employees not to wear masks in the workplace. The answer might be more complicated than you think.  According to a recent Wall Street Journal article, if you wish to wear a mask in the workplace, “As long as the Centers for Disease Control and Prevention recommends that…
         A Subway in Bloomington, Ind. discriminated against a qualified applicant due to the applicant’s hearing impairment. The applicant was not hired for the sandwich-making position, because of a “communication concern” based on the applicant’s “hearing and speaking” ability. The applicant sued Ranrae, Inc, the corporation that is in charge of the Subway restaurant franchise in Bloomington, Indianna. Ranrae, Inc settled the American with Disabilities Act (ADA) lawsuit for $28,700 on March 26, 2021. The EEOC Regional Attorney Kenneth L. Bird states, “This employer wisely agreed to take the steps contained in the consent decree that will better ensure disabled…
On April 22, the Commodity Futures Trading Commission’s Division of Data, Division of Market Oversight and Division of Clearing and Risk (collectively, the Divisions) issued CFTC Letter No. 21-11, which (1) provides no-action relief to KalshiEX LLC (Kalshi), a designated contract market, and LedgerX, LLC (LedgerX), a derivatives clearing organization, from reporting to swap data repositories data for binary option transactions executed on or subject to the rules of Kalshi and cleared by LedgerX; and (2) exempts Kalshi and LedgerX from certain related recordkeeping requirements. This relief is subject to certain conditions, including, but not limited to, the following: all…
After a family member contacts the mediator the mediator will reach out to the other family members who are concerned about the care and well-being of an elder in their lives and might want to be involved in the conflict resolution process. In this first contact the mediator will explain the basics of how mediation works and begin to discuss with each family member separately what their perspective is on the problem and what they would like to see happen. In this introductory call the mediator will inquire about each person’s interests as well as what their understanding is of…
This past month, the nation has been rocked by repeated incidents of gun violence across the country. Earlier in March, eight people, most of Asian descent, were killed by a gunman in Atlanta, Georgia at multiple massage parlors across the city. About a week later, a shooter killed ten people at a supermarket in Boulder, Colorado. Last Thursday, a mass shooting occurred at a Fedex facility in Indianapolis, Indiana that resulted in the death of nine people. This Sunday, a former sheriff’s officer detective shot and killed three people in a neighborhood in Austin, Texas. And just yesterday, a sixteen…
In 2017, a class action lawsuit was filed against the popular fast food business, Chipotle, for misclassifying its workers as salaried employees who were exempt  from overtime pay. Carmen Alvarez, an employee at the time, filed the complaint in the U.S. District Court in New Jersey on behalf of herself and other Chipotle workers in similar situations. The suit, consisting of over 4,800 workers, was finally settled for $15 million after Chipotle agreed to resolve and put an end to the allegations. According to QSR magazine, the payout will be distributed to all employees working in New Jersey “from…