In this issue:
- Regulatory Capital
- Credit Ratings
- Financial Market Infrastructure
- Financial Services
- Consumer Protection
- Excerpt from Derivatives:
CFTC Extends Time-Limited No-Action Relief for Swap Dealers and Major Swap Participants from Compliance with Valuation Reporting Obligations -
On 1 July 2014, the US Commodity Futures Trading Commission’s (“CFTC”) Division of Market Oversight extended the relief provided in no-action letter 13-34. The no-action letter provides relief to Swap Dealers and Major Swap Participants from the obligation to report valuation data for cleared swaps as required by CFTC regulations. The no-action letter provides that the CFTC will not take enforcement action against a Swap Dealer or Major Swap Participant for failure to comply with such reporting requirements until 30 June 2014.
Please see full newsletter 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.
Topics: Banks, CFTC, Compliance, Credit Ratings, Derivatives, Enforcement, Financial Regulatory Reform, Major Swap Participants, No-Action Letters, No-Action Relief, Reporting Requirements, Swap Dealers, Swaps, Valuation
Published In: General Business Updates, Consumer Protection Updates, Finance & Banking Updates, International Trade Updates, Securities 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.
© Shearman & Sterling LLP | Attorney Advertising