Last week, the Commodity Futures Trading Commission (CFTC) and European regulators announced that they have reached agreement on a “common approach” regarding requirements for central counterparties (CCPs) (i.e.,...more
The Dodd-Frank Wall Street Reform and Consumer Protection Act’s mandatory clearing requirement for interest rate swaps and certain credit default swaps has been in place for quite some time. However, the clearing requirement...more
On November 10, the European Securities and Markets Authority (ESMA) published a consultation paper relating to the Regulatory Technical Standards and Implementing Technical Standards (collectively, the Technical Standards),...more
On October 1, the European Securities and Markets Authority (ESMA) issued final draft regulatory technical standards (RTS) with respect to the central clearing of four classes of interest rate swaps (IRS). The RTS follows...more
On February 14, 2014, the European Securities and Markets Authority (ESMA) requested that the European Commission (EC) clarify the definition of “derivative” or “derivative contract,” and particularly the definition of...more