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Commodities Futures Trading Commission Interest Rates

The United States Commodities Futures Trading Commission was created in 1974 to regulate commodity futures and option markets. The Commission’s mission is to protect market participants and the public from... more +
The United States Commodities Futures Trading Commission was created in 1974 to regulate commodity futures and option markets. The Commission’s mission is to protect market participants and the public from fraud, abuse, and systemic risk associated with derivatives subject to the Commodities Exchange Act. In 2010, as a result of the Frank-Dodd Wall Street Reform and Consumer Protection, the Commission’s role was expanded to include drafting rules for regulating the swaps marketplace. less -
Jones Day

FCA Consulting on Proposed Changes to the Derivatives Trading Obligation

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The Background: In 2021, the Financial Conduct Authority ("FCA") and HM Treasury began consulting on the Wholesale Markets Review (the "Review"), a broad review of the structure, functioning, and regulation of secondary...more

Davis Wright Tremaine LLP

CFTC Division of Enforcement, FY 2023: A Year in Review and Looking Ahead

On November 7, 2023, the Division of Enforcement ("Division") of the United States Commodity Futures Trading Commission ("CFTC") released its annual report of the results of its enforcement efforts, announcing that it had...more

Goodwin

FinCEN and the U.S. Department of Commerce’s BIS Issues Supplemental Alert Urging Continued Vigilance for Potential Russian Export...

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On May 19, FinCEN and BIS issued an alert urging financial institutions to watch for attempts to evade export controls imposed on Russia. The alert focuses on ongoing federal initiatives to limit Russian access to technology...more

Cadwalader, Wickersham & Taft LLP

Latest CFTC Action on LIBOR Transition

In its last regulatory action for 2022, on December 23, the U.S. Commodity Futures Trading Commission (“CFTC”) published its staff no-action letter No. 22-21 (“NAL”) allowing commodity brokers – Futures Commission Merchants...more

Sheppard Mullin Richter & Hampton LLP

CFTC Amends Clearing Requirements

On August 12, 2022, the CFTC issued a final rule modifying its clearing requirement for interest rate swaps (“IRS”). ...more

Latham & Watkins LLP

CFTC Mandates Clearing for Interest Rate Swaps on IBOR Alternatives

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A new rule removes the requirement to clear IBOR-based swaps and extends mandatory clearing to swaps on IBOR alternatives. On August 12, 2022, the US Commodity Futures Trading Commission (CFTC) voted to amend its...more

Cadwalader, Wickersham & Taft LLP

CFTC Finalizes Rule Regarding LIBOR Transition Clearing Requirement Determination for Certain Interest Rate Swaps

On August 12, the Commodity Futures Trading Commission (“CFTC”) issued a final rule amending its Regulation 50.4(a) clearing requirements for swaps. The latest in a series of rulemaking that is supportive of the...more

ArentFox Schiff

USD LIBOR Transition: Has the Moving Van Arrived Yet?

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According to government regulators across the globe, everyone should have been acting to slow USD LIBOR use for the next six weeks. Except, of course, for the next six weeks… UK FCA Announcement- It is now official –...more

ArentFox Schiff

Federal Law to the Rescue?

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Snidely Whiplash kidnaps Nell and, in the show’s opening, ties her to the railroad tracks to get even with his nemesis, Dudley Do-Right, of the famed Royal Canadian Mounted Police. Menacing music plays. In each episode,...more

Moore & Van Allen PLLC

UPDATED: Term SOFR vs BSBY vs Ameribor in the Loan Market

This is an update to a previous post. This update highlights the formal endorsement of Term SOFR by the ARRC, expands the discussion to include Ameribor and dives more deeply into the issues associated with Term SOFR swaps...more

Sheppard Mullin Richter & Hampton LLP

Latest Milestone in LIBOR Replacement Passed

This past Monday, July 26, marked passage of the most recent major milestone in the replacement of LIBOR as the benchmark USD interest rate. Following the recommendation of the CFTC’s Market Risk Advisory Committee (MRAC)...more

Moore & Van Allen PLLC

Term SOFR vs BSBY in the Loan Market

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Wednesday, the ARRC announced (HERE) the expectation to endorse CME’s Term SOFR in late July or early August. One of the bigger pieces to this announcement is the announcement that U.S. regulators will also permit Term SOFR...more

Latham & Watkins LLP

“SOFR First” Initiative Takes Flight

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As the countdown to the LIBOR sunset enters its final six months, the CFTC staff is trying to help the market transition. With less than six months to go before the London Interbank Offered Rate (LIBOR) expires on December...more

ArentFox Schiff

LIBOR Transition Comparison: US vs. UK (Focusing on Interdealer Brokers)

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As part of the ongoing transition from the London InterBank Offering Rate (LIBOR) to the Secured Overnight Financing Rate (SOFR) recommended by the Alternative Reference Rates Committee (ARRC) as an alternative rate, an...more

Perkins Coie

Blockchain Week in Review - April 2021 #4

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U.S. Developments - Bipartisan crypto bill passes House of Representatives - Last week, the U.S. House of Representatives passed H.R. 1602, titled “Eliminate Barriers to Innovation Act of 2021.” The bill was first...more

ArentFox Schiff

The End of LIBOR: The Twilight Zone™ Edition

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The United Kingdom’s Financial Conduct Authority announced the future cessation and loss of representativeness of worldwide LIBOR rates. Potential Detrimental Developments - Recent Events - On Friday, March 5,...more

Latham & Watkins LLP

CFTC Provides Additional No-Action Relief to Smooth IBOR Transition

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The relief removes regulatory obstacles and provides additional flexibility for market participants. On August 31, 2020, three divisions of the US Commodity Futures Trading Commission (CFTC) issued revised no-action...more

Robins Kaplan LLP

Financial Daily Dose 9.9.2020 | Top Story: Luxury-Goods Giant LMVH Pulls Out of $16 Billion Deal to Acquire Tiffany & Co.

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Blaming a “U.S. move to impose tariffs on French goods,” luxury brand conglomerate LMVH is pulling out of a proposed $16 billion deal to buy jeweler Tiffany & Co. Tiffany is now suing to enforce the ill-fated agreement....more

Eversheds Sutherland (US) LLP

The heat is on - Regulators step up pressure to implement LIBOR transition plans

Regulators are increasing pressure on financial institutions to demonstrate that they are proactively addressing the transition away from LIBOR.  On December 23, 2019, the New York State Department of Financial Services...more

K&L Gates LLP

Session VIII - Global Regulatory Update: 2019 Boston Investment Management Conference

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OVERVIEW - - An estimated $350 trillion of financial contracts and securities tied to LIBOR - End of 2021: LIBOR to be discontinued - Prior to End of 2021: - Pre-cessation trigger - If LIBOR becomes non-representative ...more

Robins Kaplan LLP

Financial Daily Dose 1.6.2020 | Top Story: Oil Futures Jump as Concerns Deepen Over Mideast Volatility

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Oil jumped for a second straight day, with futures near $70/barrel as fallout from the U.S.’s drone-strike assassination of Iran’s Qassem Soleimani continues to raise “the prospect of disruptions in the world’s most important...more

ArentFox Schiff

The End of LIBOR: SOFR Updates

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Previous Repos - In the last Client Alert, it was reported that the New York Fed recently infused approximately $220 billion into the banking system – $70 billion of overnight repos and $150 billion in term repos....more

Robins Kaplan LLP

Financial Daily Dose 9.17.2019 | Top Story: WeWork to Delay Planned IPO Until at Least October

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Shared office-space company WeWork, which had committed to moving forward with its planned IPO this week despite recent turmoil, appears likely to postpone the offering until at least October in an effort to shore up its...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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To no one’s surprise, the Fed followed through with its months of promises and raised its benchmark interest rate by 25 basis points yesterday. The FOMC also indicated that it’s planning to raise rates again in December....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Now to be fair, Starbucks Executive Chair Howard Schultz has stepped away before.  But this time feels more definitive, especially with the call of politics apparently swimming around in his post-Sbux plans....more

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