JONES DAY TALKS®: Derivatives Market Volatility Brings New Concerns and More Regulatory Scrutiny
JONES DAY TALKS®: Carbon Markets are Booming, and Regulators are Watching
JONES DAY TALKS®: Energy Derivatives and Regulatory Enforcement by the CFTC and FERC
JONES DAY TALKS®: CFTC and DOJ Target Derivatives Trading Across Industries
WORD OF THE DAY® for Hedge Funds – Derivative
Cross-Border Regulation of Swaps Update from ISDA's Robert Pickel (Part 1)
A Look at Forensic Accounting and Financial Fraud
Regulation 2013: Dodd-Frank Position Limits, CFTC Reuthorization, Regulatory Harmonization
In 2015, a policy framework on the margin requirements for non-centrally cleared over-the-counter derivatives (OTC Derivatives) transactions was published by the Basel Committee on Banking Supervision and the International...more
Established in 1974, the CFTC was originally responsible for overseeing and regulating the commodity futures and options markets in the United States. Initially, its primary focus was to regulate trading of futures related to...more
EMIR: Delegated Regulations on clearing obligation and risk mitigation - The following Delegated Regulations made under the European Market Infrastructure Regulation (EMIR) have been published in the Official Journal of the...more
The risk management frameworks, systems and margin models of Central Counterparties (CCPs) across the globe have been tested by huge swings in market volatility over recent months during the current pandemic. Their models and...more
The International Securities and Derivatives Association has published a guide on the cross-border application of margin rules established under the U.S., EU and Japanese regimes for uncleared derivatives. While most...more
The Situation: The increased use of financial sanctions (in particular "sectoral" or targeted sanctions) by the United States and European Union has the potential to cause short-term illiquidity, contagion, and market...more
The European Systemic Risk Board has published a report on mitigating the procyclicality of margins and haircuts in derivatives markets and securities financing transactions. The report assesses the systemic risks arising...more
On December 23, 2019, the New York Department of Financial Services (NYDFS) issued an Industry Letter instructing each institution it regulates, including banks and licensed Fintechs, to make submissions describing the...more
The Federal Deposit Insurance Corporation (“FDIC”) and Office of the Comptroller of the Currency (“OCC”) have finalized revisions to the proprietary trading and compliance program provisions of the Volcker Rule (the “2019...more
On July 12, 2019, the staff of the Division of Corporation Finance, Division of Investment Management, Division of Trading and Markets, and Office of the Chief Accountant (Staff) of the Securities and Exchange Commission...more
The Commodity Futures Trading Commission (CFTC) has proposed a series of changes to its general regulations governing derivatives clearing organizations (DCOs). The CFTC has stated that the proposed amendments are intended to...more
Two new consultations seek market input on USD and other currencies and on inclusion of "non-representativeness" trigger - The International Swaps and Derivatives Association, Inc. ("ISDA") launched two additional IBOR...more
A Commission Implementing Decision declaring equivalence of the Japanese legal, supervisory and enforcement arrangements for risk mitigation techniques and exchange of collateral has been published in the Official Journal of...more
• Under Swiss law, to fulfil the clearing, reporting and risk mitigation obligations applying to derivatives trading under foreign law, the Swiss Financial Market Supervisory Authority (FINMA) must recognize the foreign law...more
On October 30, 2018, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (collectively, the agencies) jointly invited comment on a...more
A practical guide to the cessation of LIBOR and the transition to a new replacement benchmark rate. Unquestionably, the London Inter-Bank Offered Rate ("LIBOR") is an integral part of nearly every type of financial product...more
As required by President Trump’s Executive Order 13772, the U.S. Department of the Treasury issued a report, “A Financial System That Creates Economic Opportunities, Asset Management and Insurance,” addressing the regulatory...more
CFTC Comparability Determination on EU Margin Requirements and a Common Approach on Trading Venues - On October 13, 2017, the U.S. Commodity Futures Trading Commission ("CFTC") announced determinations by the CFTC and the...more
EMIR – Revised List of CCPs and New Rules to Mitigate Risks in Non-Cleared OTC Derivative Transactions ESMA updated its list on 29 September 2016 of third-country central counterparties recognised to offer services and...more
Financial Industry Developments - The CFPB Publishes Final Rule for Prepaid Accounts - On October 5, 2016, the Consumer Financial Protection Bureau (the "CFPB") finalized comprehensive consumer protections for...more
Agencies Issue Proposal on Method to Adjust Threshold for Exempting Small Loans from Special Appraisal Requirements - On July 22, 2016, the Consumer Financial Protection Bureau, the Federal Reserve Board and the Office...more
On March 8, the European Supervisory Authorities (which includes the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority) published...more
The Joint Committee of the European Supervisory Authorities (EBA, EIOPA, ESMA) (“ESAs“) has published final draft Regulatory Technical Standards (“RTS“) outlining the framework of the European Market Infrastructure Regulation...more
The European Commission has announced a delay to the implementation of MiFID II (the latest piece of EU legislation dealing with the regulation of investment services within Europe). MiFID II will amongst other things...more
On August 19, as part of a response to a request from the Financial Stability Board (FSB), the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO)...more