On January 11, the Commodity Futures Trading Commission (CFTC) adopted three final rules to implement certain requirements contained in Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act), including (1) the protection of cleared swaps customer collateral, (2) external business conduct standards for swap dealers and major swap participants, and (3) the registration of swap dealers and major swap participants. The CFTC also adopted proposed rules to implement the Volcker Rule.
It is expected that all of the above items will be published in the Federal Register in the coming weeks. The discussion below is based on the fact sheets on the CFTC’s website and remarks made by CFTC Commissioners and staff at the open meeting.
The next CFTC open meeting is tentatively scheduled for January 25, 2012, at which the CFTC expects to consider final rules pertaining to the further definitions of swap dealer and major swap participant, among other topics. Also, the CFTC has issued a tentative timeline for its issuance of additional final rules and interpretive orders to implement Title VII of the Dodd-Frank Act.
Please see full alert below for more information.
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.
Administrative Law Updates, Finance & Banking Updates, Securities Law Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
© Sutherland Asbill & Brennan LLP | Attorney Advertising