Perry Comments on the Inevitable Closing of Historic Chicago Futures Pits

A last ditch effort to save open outcry in the Chicago Mercantile Exchange (CME) and Chicago Board of Trade (CBOT) futures pits is likely to fall short, Braden Perry, a former CFTC senior trial attorney and Partner with Kennyhertz Perry said in a Reuters article.  The effort, launched by traders to delay the July 6 closing, claims the CME has failed to provide the CFTC adequate information on the rationale of the closing, and leaves certain trading strategies without proper alternatives.  “It really comes down to the numbers of people who are trading still in the open-outcry system,” Perry said.  The CME estimates that floor trading in Treasury futures represented 1.8 percent of total volume last year.

To read the entire article, please visit: http://www.reuters.com/article/2015/06/25/cme-group-futures-closure-lawyers-idUSL1N0ZB2QJ20150625

Massad’s 1st year at CFTC about Change, Perry Says

Law360 featured former U.S. Commodity Futures Trading Commission Senior Trial Attorney Braden Perry in an evaluation of CFTC’s Chairman Timothy Massad. Perry said that Massad’s change in tone was immediately palpable in his speeches and the agency’s guidance letters. And whereas Gensler had the job of implementing Dodd-Frank Act reforms immediately after they were passed, Massad was able to take a step back and make subtle changes in order to help market participants while still protecting consumers. Although many challenges remain, Perry said that he has a lot of potential to make the markets work in an efficient manner for those the CFTC oversees.

To read the entire article, please visit http://www.law360.com/articles/661281/1-year-in-massad-starts-to-turn-cftc-ship-around.

Braden Perry to Speak on CFTC Dodd-Frank Title VII Market Reform

The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, asked Braden Perry, former Senior Trial Attorney at the CFTC and founder of the Kansas City-based Kennyhertz Perry law firm to speak at the Knowledge Congress’ webcast entitled: “CFTC’s Financial Market Reform in 2015: Boon or Bane? Live Webcast.” This event is scheduled for May 15, 2015 @ 3:00 pm – 5:00 pm (ET).

Mr. Perry will be part of a panel of key thought leaders and practitioners will provide an overview and discussion of the latest changes to The Dodd-Frank Act that affect Financial Market Reform.

Braden Perry Featured on McGraw Hill Financial Global Institute Podcast Discussing CFTC Case against Kraft and Mondelez

McGraw Hill Financial Global Institute President John Kingston recently spoke with Kennyhertz Perry partner Braden Perry, a former senior trial attorney at the CFTC, about the meaning of this battle between a regulator and a large end user and participant in the commodities market.  The McGraw Hill Financial Global Institute’s mission is to support the advancement of open and transparent capital and commodity markets, increased economic opportunity for individuals, communities and nations and to address other societal issues and trends contributing to global growth and prosperity.

To listen to the podcast, visit https://www.mhfi.com/about/Global-Institute/white-papers/Kraft-vs-the-CFTC.html.

Kraft/Mondelez CFTC Case a Test for New Manipulation Standard, Perry Says

Law360 spoke with Braden Perry, Kennyhertz Perry partner and former CFTC Senior Trial Attorney, regarding the Kraft/Mondelez suit accusing the snack makers of manipulating the price of wheat in 2011, and the significance of the relaxed manipulation standard under Dodd-Frank. Under rules passed out of the 2010 law, the CFTC no longer must show that traders specifically intended

Perry Speaking at The Knowledge Group Series: CFTC’s Financial Market Reform in 2015: Boon or Bane?

Kennyhertz Perry Partner Braden Perry was selected as a panelist for the March 11, 2015 Webcast: CFTC’s Financial Market Reform in 2015: Boon or Bane? The panel will provide an overview and discussion of the latest changes to The Dodd-Frank Act that affect Financial Market Reform. Following the financial market crisis of 2008, Congress enacted

Perry Speaks with Law360 on CFTC Enforcement Actions Returning to Administrative Court

In an interview with Law360, former CFTC senior trial attorney and Kennyhertz Perry partner Braden Perry discussed the CFTC’s recent decision to take enforcement proceedings to administrative court. Citing lack of resources, the CFTC claims bringing enforcement actions in administrative courts would “allow the commission to develop its expertise and the powers given to it in 2010 by Dodd-Frank.”  Perry described it as a “setback” for subjects of CFTC investigations and the lack of resources at a federally funded agency “shouldn’t be the reason for a policy change that eliminates what a defendant might see as a fair and full process.”

Perry Speaks with Law360 on Panther Energy Indictment

Braden Perry recently spoke with Law360 regarding the HFT spoofing indictment filed against Panther Energy Trading, LLC.  The indictment, alleging Panther Energy designed and deployed algorithms that issued and canceled orders within milliseconds — faster than the blink of an eye but long enough to be detected by other automated trading programs that troll the markets.  These actions “spoofed” the markets with enormous buy or sell orders that were canceled almost instantaneously, all to win illegal profits by manipulating the price of futures contracts.  The action, according to Perry, protects high frequency traders and ensures integrity in the markets.

Perry To Law360: CFTC May Have Erred Too Much in Favor of Confidentiality

The Commodity Futures Trading Commission recently announced that it will make its first award to a whistleblower as part of the Commission’s Whistleblower Program created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. In releasing this information, the CFTC said the person will receive approximately $240,000 for providing valuable information about

Kennyhertz Perry’s Braden Perry Discusses the CFTC’s No-Admit, No-Deny Policy Shift

Former CFTC Trial Attorney Braden Perry recently spoke with Law360 regarding the JPMorgan settlement with the CFTC, admitting that its traders “acted recklessly.” This admission demonstrates a significant shift from the no-admit, no-deny settlements to a more aggressive stance in pushing wrongdoers for accountability.

Kennyhertz Perry Partner, Braden Perry, to Discuss Regulation S-ID with Kansas City Compliance and Legal Professionals

Kansas City, MO (July 7, 2012) –Braden Perry is slated to speak on July 25th to the Kansas City Compliance Group where he will provide the framework for the Regulation S-ID requirements, also known as the Identity Theft Red Flag Rules.

The presentation is designed for both compliance and legal personnel, and applies to any registered broker-dealer, registered investment company, registered business development company, or registered investment adviser that is a “financial institution, and will provide an overview of the provisions of the Regulation, focusing on keys to implementation and the requirements of the Regulation S-ID program.

Federal Trade Commission Staff Test-Shopping Data Brokers

In May, the Federal Trade Commission (FTC) sent warning letters to 10 of the 45 data broker companies following a test-shopping operation, warning that their practices could violate the Fair Credit Reporting Act (FCRA).

The test-shopping operation was performed by non-attorney FTC staff members posing as individuals or representatives of companies seeking information about consumers to make decisions related to their creditworthiness, eligibility for insurance or suitability for employment.