News & Analysis as of

Commodities Futures Trading Commission Major Swap Participants Prudential Regulation Authority (PRA)

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 -
McGuireWoods LLP

Financial Entity Update: CFTC’s Proposed Margin Rules for Uncleared Swaps – America’s Next Top Model

McGuireWoods LLP on

Our first installment on the CFTC’s proposed margin rules (Margin Rules) for uncleared swaps addressed the importance of the “financial end user” definition and making certain notional calculations. Our second and third...more

McGuireWoods LLP

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

McGuireWoods LLP on

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

Katten Muchin Rosenman LLP

CFTC and Australian Regulator Sign Memorandum of Understanding Regarding Cross-Border SDs and MSPs

The Commodity Futures Trading Commission and the Australian Prudential Regulation Authority (APRA) have entered into a memorandum of understanding regarding the supervision of CFTC-registered swap dealers and major swap...more

Eversheds Sutherland (US) LLP

Congress Exempts Non-Financial End-Users, Their Agents and Certain Cooperatives From Non-Cleared Swap Margin Requirements in...

On January 8, 2015, the U.S. Senate approved legislation, by a 93-4 vote, to reauthorize the Terrorism Risk Insurance Act (“TRIA”). The legislation, dubbed the Terrorism Risk Insurance Program Reauthorization Act of 2015 (the...more

Latham & Watkins LLP

Swap Dealers Will Face Significant Challenges from Reproposed Margin Rules for Uncleared Swaps

Latham & Watkins LLP on

Dealers and major industry participants may be subject to new margin requirements beginning as early as December 1, 2015. Regulators are expected to finalize rules regarding margin requirements for uncleared swaps...more

Morrison & Foerster LLP

Prudential Regulators and CFTC Re-Propose Margin Requirement Rules for Uncleared Swaps

Morrison & Foerster LLP on

The Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Farm Credit Administration, and the Federal Housing Finance Agency...more

Eversheds Sutherland (US) LLP

Regulators Publish Re-proposed Margin Requirements for Uncleared Swaps

On September 3, 2014, the Board of Governors of the Federal Reserve System (the Board) jointly adopted, with certain federal banking regulators, re-proposed rules that will require registered swap dealers, security-based swap...more

Katten Muchin Rosenman LLP

Bridging the Week - September 2014 #2

CFTC Proposes Margin Rules for Uncleared Swaps and Approves Special Treatment for Operations-Related Swaps With Certain Government-Owned Natural Gas and Electric Utilities - A few weeks after the Federal Reserve Bank...more

Katten Muchin Rosenman LLP

CFTC Proposes Margin Rules for Uncleared Swaps

On September 17, the Commodity Futures Trading Commission issued proposed rules that would impose margin requirements on certain market participants with respect to their transactions in uncleared swaps. ...more

Skadden, Arps, Slate, Meagher & Flom LLP

Prudential Regulators and CFTC Re-Propose Margin Requirements for Non-Cleared Swaps

Federal banking regulators (the Prudential Regulators) have re-proposed regulations to require certain dealers and major participants in the swap and security-based swap markets to collect initial and variation margin for...more

Cadwalader, Wickersham & Taft LLP

CFTC Votes to Re-Propose Margin Requirements for Uncleared Swaps

On September 17, 2014, the Commodity Futures Trading Commission (“CFTC”) voted to re-propose rules to impose initial and variation margin requirements on uncleared swaps entered into by swap dealers and major swap...more

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