News & Analysis as of September 20, 2024

European Union › Swap Dealers

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

Tips For Negotiating With A Swap Dealer In Distress

Proskauer Rose LLP on 5/3/2023

Over the past two months, the markets have been roiled by banks in financial distress. Some banks have received influxes of capital, while others were taken over by regulators or a competitor. Banks and the global...more

Extension of Brexit No-Action Letters

Orrick, Herrington & Sutcliffe LLP on 12/23/2020

In November 2020, the CFTC published two no-action letters extending previously granted no-action relief related to Brexit. The relief was intended to provide “greater certainty to the global marketplace” in connection with...more

Structured Thoughts: News for the Financial Services Community, Volume 10, Issue 6

Morrison & Foerster LLP - Structured Products on 11/27/2019

In this issue of Structured Thoughts, we discuss: ..European Commission consultation on EU benchmark regulation ..FINRA: Suitability and sales practices remain an issue ..SEC charges Switzerland-based dealer for selling...more

ISDA Implements Changes to the Credit Derivatives Definitions

Kramer Levin Naftalis & Frankel LLP on 8/14/2019

In a continuing effort to address the advent of narrowly tailored credit events (NTCEs) in the CDS market, ISDA is now preparing for the implementation of the changes designed to deter market participants from running these...more

Corporate & Financial Weekly Digest, Featuring Articles on a FINRA Warning on Imposter Websites and Proposed Rules Changes on...

Katten Muchin Rosenman LLP on 5/6/2019

BROKER-DEALER - SEC Extends Compliance Date for Regulation NMS Changes - The Securities and Exchange Commission has extended the compliance dates for amendments to Rule 606 of Regulation National Market System (NMS)...more

US Commodity Futures Trading Commission Issues No-Action Letters to Ensure Continued Relief and Substituted Compliance for U.K....

A&O Shearman on 4/25/2019

The Commodity Futures Trading Commission has issued two no-action letters to ensure that existing regulatory relief and substituted compliance measures for EU firms will continue to apply to U.K. firms following the U.K.’s...more

CFTC Clears Decks for "No Deal" Brexit

Jones Day on 4/15/2019

The Commodity Futures Trading Commission ("CFTC") extends no-action and exemptive relief from the European Union to the United Kingdom. On April 5, 2019, the CFTC's Divisions of Clearing and Risk, Market Oversight and Swap...more

Corporate & Financial Weekly Digest, Featuring Articles on Broker/Dealer Developments, CFTC and EU Developments

Katten Muchin Rosenman LLP on 9/4/2018

BROKER-DEALER - Statement on Status of the Consolidated Audit Trail By Janet M. Angstadt and Dina Wegh on August 31, 2018 Posted in Broker-Dealer On August 27, the Securities and Exchange Commission’s Division of...more

Derivatives In Review - May 2017

Orrick, Herrington & Sutcliffe LLP on 5/5/2017

CME and LCH Amend Rulebooks on Variation Margin - Market participants historically have characterized cleared derivatives as being "collateralized-to-market", treating variation margin transfers as daily collateral...more

Update: Prudential Regulators Delay Compliance Deadline for New Swap Margin Rules

Troutman Pepper on 2/27/2017

If you have been following our alerts on the pending deadlines (and the delays of these deadlines by certain regulators) of the new swap variation margin rules (New Swap Margin Rules) that were due to go into effect on March...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 2/24/2017

Financial Industry Developments - New York Department of Financial Services Promulgates First-in-the-Nation State Cybersecurity Regulation - On February 16, 2017, the New York Department of Financial Institutions...more

Will the CFTC Postpone the March 1, 2017 Variation Margin Deadline?

McGuireWoods LLP on 2/3/2017

Derivatives traders and lawyers are focused on March 1. Not for any basketball tournaments, but for the variation margin (VM) big bang. From March 1, 2017, swap dealers and financial end-users will be required to exchange VM...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 12/16/2016

Financial Industry Developments - CTFC Approves Re-Proposal of Position Limits Regulation - On December 5, 2016, the U.S. Commodity Futures Trading Commission ("CFTC") unanimously approved to re-propose rules that...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 11/23/2016

Financial Industry Developments - CFTC Division of Market Oversight Reminds Market Participants of the Upcoming Expiration of Certain No-Action Relief From the Ownership and Control Final Rule - On November 16,...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 10/28/2016

Financial Industry Developments - Agencies Issue Advanced Notice of Proposed Rulemaking on Enhanced Cyber Risk Management Standards - On October 19, 2016, the Federal Reserve Board, the Federal Deposit Insurance...more

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on 9/16/2016

Financial Industry Developments - Agencies Publish Study on Banking Activities and Investments under Dodd-Frank - On September 8, 2016, the Board of Governors of the Federal Reserve System, Federal Deposit Insurance...more

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on 8/26/2016

Financial Industry Developments - CFTC Announces Measures to Enhance Protection of Customer Funds - On August 8, 2016, the U.S. Commodity Futures Trading Commission (CFTC) announced three separate enhancements...more

Corporate and Financial Weekly Digest - Volume XI, Issue 31

Katten Muchin Rosenman LLP on 8/15/2016

BROKER-DEALER - FINRA Issues Notice Regarding SEC’s Approval of New NMS Stock Recording and Reporting Requirements Rule - On August 8, the Financial Industry Regulatory Authority issued Regulatory Notice 16-28,...more

Bridging the Week - March 2016 #3

Katten Muchin Rosenman LLP on 3/22/2016

Industry Comments to Regulation AT Argue CFTC Proposed Rules Too Prescriptive; Registration and Source Code Requirements Particularly Objectionable - After declining multiple requests to extend the comment period that...more

Corporate and Financial Weekly Digest - Volume XI, Issue 10

Katten Muchin Rosenman LLP on 3/14/2016

BROKER-DEALER - SEC Announces Creation of Office of Risk and Strategy - On March 8, the Securities and Exchange Commission announced the creation of the Office of Risk and Strategy (ORS) within the SEC’s Office of...more

Financial Entity Update: The CFTC’s Proposed Margin Rules for Uncleared Swaps – Goofy Haircut

McGuireWoods LLP on 8/25/2015

Under the Margin Rules, swap dealers and major swap participants that do not have a prudential regulator (Covered Swap Entities, or CSEs) would be required to collect and post initial margin for uncleared swaps with financial...more

Financial Entity Update: The CFTC’s Proposed Margin Rules for Uncleared Swaps – Know Thyself

McGuireWoods LLP on 8/4/2015

To clarify our intended audience, in the Financial Entity Update we will address issues germane to entities that trade swaps but are neither dealers nor commercial end users. This includes a broad and diverse group of...more

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on 6/30/2015

EBA Updates Single Rulebook Q&As: June 26, 2015 - On June 26, 2015, the European Banking Authority (EBA) updated its Q&As on the single rulebook, publishing eight new questions. The single rulebook Q&As relate...more

Corporate and Financial Weekly Digest - Volume IX, Issue 46

Katten Muchin Rosenman LLP on 11/24/2014

In this issue: - US Court of Appeals for the District of Columbia Circuit Grants Petition for Rehearing of Decision on Conflicts Minerals Rule - Register for Our 2015 Proxy Season Update Webinar - SEC...more

Corporate and Financial Weekly Digest - Volume IX, Issue 33

Katten Muchin Rosenman LLP on 8/25/2014

In this issue: - ISS Launches New Equity Plan Data Verification Portal - ISDA Publishes Protocol for 2014 Credit Derivatives Definitions - FinCEN Issues Advisories for US Financial Institutions -...more

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European Union › Swap Dealers

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