Many hedge funds have been reluctant to use general solicitation to offer securities because of the possibility it would be inconsistent from exemptions related to CPO (commodity pool operator) regulations administered by the...more
The CFTC has a whistleblower award program that is separate from, but somewhat similar to, the SEC’s whistleblower award program. Both are mandated by the Dodd-Frank Act.
The CFTC has announced that the agency will...more
Broc Romanek of TheCorporateCounsel.net recently described a member’s concerns that some companies were having on relying on the Dodd-Frank Act’s exemption for end-users for swaps entered into by treasury subsidiaries and...more
Many corporate credit agreements are supported by subsidiary guarantees. Those guarantees often include not only the guaranty of the obligations under the credit agreement but also any related swap agreements. The CFTC has...more
By May 1, all counterparties must have provided their registered swap dealers with legal classifications and representations to allow the swap dealers to comply with the CFTC’s External Business Conduct Rule (EBCR). After the...more
There continues to be significant public discord amongst the Commissioners at the CFTC.
According to Commissioner Scott O’Malia “Given the vast deficit spending challenges this country is facing, I do not believe it is...more
The CFTC has issued a final rule to exempt swaps between certain affiliated entities within a corporate group from the clearing requirement under the Commodity Exchange Act, or CEA, and CFTC regulations. ...more
The CFTC’s Division of Clearing and Risk has issued a no-action letter that provides relief from required clearing for a limited set of “stub swaps” that remain after the partial novation or partial termination of an original...more
The Division of Market Oversight, or DMO, and Office of Data and Technology, or ODT of the CFTC have issued an advisory reminding all swap counterparties of the imminent April 10, 2013, deadline for each counterparty to...more
Since the beginning of 2013, the CFTC has required certain market participants to report their interest rate and credit index swap trades to a swap data repository, or SDR. CFTC Commissioner Scott D. O’Malia recently...more