The CFTC has adopted a final rule to prohibit the controversial practice of post-trade name give-up for swaps that are executed anonymously through a Swap Execution Facility (SEF) and are intended to be cleared. Although the...more
On February 25, 2020, the International Swaps and Derivatives Association (ISDA) launched a new consultation on how to implement pre-cessation fallback language into derivatives agreements. Responses are due by no later than...more
In the wake of significant market discussion, the CFTC has proposed an amendment to Part 37 of the Commission’s regulations to eliminate the practice of “post-trade name give-up” for swaps traded on certain swap execution...more
3/10/2020
/ Amended Rules ,
CFTC ,
Commodities ,
Commodities Traders ,
Derivatives ,
Give-Up Release ,
Popular ,
Public Comment ,
Rulemaking Process ,
Swap Execution Facilities ,
Swaps
The Commodity Futures Trading Commission (CFTC) has issued three no-action letters providing relief for swap transactions (and amendments to swap transactions) in connection with the expected market transition from using the...more
2/19/2020
/ Alternative Reference Rates Committee (ARRC) ,
CFTC ,
De Minimus Quantity Exemption ,
Inter-Bank Offered Rates (IBORs) ,
Libor ,
Market Participants ,
No-Action Letters ,
No-Action Relief ,
Risk Free Rates (RFRs) ,
Swap Dealers ,
Swaps ,
Transitional Arrangements
The Commodity Futures Trading Commission (CFTC) has proposed a series of changes to its general regulations governing derivatives clearing organizations (DCOs). The CFTC has stated that the proposed amendments are intended to...more
The Commodity Futures Trading Commission (CFTC) has proposed the first installment of a series of amendments to its rules relating to swap data repositories (SDRs) and reporting of swap data. The proposed amendments, which...more
Toward the end of 2018, the Commodity Futures Trading Commission (CFTC) proposed significant revisions to the framework governing swap trading through swap execution facilities (SEFs) and designated contract markets (DCMs)....more
2/6/2019
/ CFTC ,
Comment Period ,
Commodity Exchange Act (CEA) ,
Designated Contract Markets (DCMs) ,
Dodd-Frank ,
Mandatory Clearing Requirements ,
Market Participants ,
Proposed Amendments ,
Registration Requirement ,
Regulatory Agenda ,
Regulatory Oversight ,
SEFs ,
Swap Clearing ,
Swaps
On April 26, 2018, Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo and Chief Economist Bruce Tuckman published a white paper on potential reforms to the CFTC’s swaps trading rules....more
The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), signed into law on July 21, 2010, was the largest overhaul of the U.S. derivatives market in history. While there are still a few parts of Dodd-Frank...more
On May 24, 2016, the U.S. Commodity Futures Trading Commission (“CFTC”) adopted a final rule defining the cross border application of its margin requirements for uncleared swaps. The final rule covers all swap dealers and...more
In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
4/22/2016
/ Competition ,
Consultation Periods ,
Consumer Financial Protection Bureau (CFPB) ,
Derivatives ,
Enforcement Actions ,
Enforcement Authority ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
FDIC ,
Federal Reserve ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
GAO ,
Global Systemically Important Financial Institutions (GSIFI) ,
High Frequency Trading ,
Richard Cordray ,
Securities and Exchange Commission (SEC) ,
Securitization ,
Standing ,
Stress Tests ,
Swaps ,
U.S. Treasury ,
UK
In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
9/16/2015
/ Banking Sector ,
Bitcoin ,
Capital Markets ,
CFTC ,
Deposit Guarantee System ,
Depository Institutions ,
EU ,
European Banking Authority (EBA) ,
Financial Institutions ,
NFA ,
Payment Systems ,
Prudential Regulation Authority (PRA) ,
Registration Requirement ,
RMBS ,
Securities and Exchange Commission (SEC) ,
Swap Execution Facilities ,
Swaps
The US Commodity Futures Trading Commission (“CFTC”) has taken another step in refining its framework for cross-border activities, with a new set of proposed rules applicable to the cross-border application of margin...more
The Commodity Futures Trading Commission has imposed for the first time a requirement that certain swaps be traded on a regulated market. Beginning February 15, 2014, certain cleared interest rate swaps and index credit...more
The Federal Reserve on Wednesday, June 5, issued an interpretation of the so-called “swaps push-out” section of the Dodd-Frank Act that corrects a drafting error that virtually everyone agrees needed to be fixed. The Federal...more
On April 9, 2013, the US Commodity Futures Trading Commission (the “CFTC”) granted last minute no-action relief from portions of the CFTC’s swap reporting rules. The relief delays certain compliance deadlines for many swap...more