At a July 19 meeting, the Commodity Futures Trading Commission approved three final rulemakings and two rule proposals under the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act), as described below.
•Final Rule Implementing Procedures for Review of Swaps for Mandatory Clearing: The CFTC unanimously adopted new CFTC Regulation 39.5 to establish processes for (1) determining the eligibility of derivatives clearing organizations (DCOs) to clear swaps; (2) the submission of swaps by DCOs to the CFTC for mandatory clearing determinations; (3) reviews of swaps initiated by the CFTC; and (4) stays of the clearing requirement.
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