In this issue:
- Derivatives
- Compensation
- Bank Prudential Regulation & Regulatory Capital
- Recovery & Resolution
- Credit Ratings
- Financial Services
- Consumer Protection
- Enforcement
- People
- Events
- Excerpt from Derivatives:
CFTC Provides No-Action Relief for Swap Execution Facilities from Certain Block Trade Requirements -
On September 19, 2014, the US Commodity Futures Trading Commission’s (“CFTC”) Division of Market Oversight issued time-limited no-action relief for Swap Execution Facilities (“SEFs”) from certain block trade requirements. The CFTC no-action relief specifically exempts SEFs from the “occurs away” requirement under CFTC Regulation 43.2 and allows SEFs to facilitate the execution of block trades on non-Order Book trading systems or platforms subject to certain conditions outlined in the no-action letter. The time-limited no-action relief granted by the CFTC will end on December 15, 2015.
Please see full publication below for more information.