The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.
S&C's Cohen: Brown-Vitter Punishes Banks For Being Big
Raj Mahajan, Allston Trading CEO, Talks HFT and the Business of Prop Trading
Konczal: Dodd-Frank Reforms Get Roughed Up in Court
An Update on SEF, IDB and Swap Regulation from Chris Ferreri of ICAP
Jill Sommers Reflects on the CFTC, Dodd-Frank, and Her Future
A New World for Mortgage Banking – What You Need to Know About the CFPB’s Final Mortgage Servicing Rules
Regulation 2013: Dodd-Frank Position Limits, CFTC Reuthorization, Regulatory Harmonization
Customer Protection Fund: Building a Better Piggy Bank
The New SEC Conflict Minerals Rule: Overcoming the Challenges of Compliance
First SEC whistleblower award-6 lessons learned
Former SEC Chairman David Ruder Discusses the Dodd-Frank Timeline, Volcker Rule & Cost Benefit Rules (Part 2 of 2)
Rodge Cohen: Dodd-Frank Fixes "Too Big To Fail"
Cole-Frieman & Mallon partner/co-founder Bart Mallon Discusses CFTC Regulation 4.5, the Volcker Rule & Other Compliance Issues
Derivatives Attorney Jim Falvey Discusses the MF Global bankruptcy, the Volcker Rule & Compliance Issues Related to Dodd-Frank
With the CFTC’s approval of the SEF rules last Thursday, swap users and would-be SEFs are targeting early December as the time when all swap users will be transacting standardized swaps on SEFs....more
In This Issue:
Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings.
Excerpt from Leading the Past Week -
What had been a relatively quiet week, where until Friday it seemed...more
On Wednesday, May 1, 2013, the Securities and Exchange Commission (the "SEC") proposed rules and interpretive guidance for parties to cross-border security-based swap transactions. The SEC acted pursuant to its authority...more
The Commodity Futures Trading Commission (CFTC) is reportedly contemplating lowering the number of price quotes a buyer is required to request before trading swaps....more
On May 1, the Securities and Exchange Commission proposed rules and interpretive guidance with respect to cross-border security-based swap activities. Under this proposal, the requirements of Title VII of the Dodd-Frank Wall...more
The Depository Trust & Clearing Corp. (DTCC) sued the Commodity Futures Trading Commission (CFTC) on Friday claiming that the derivatives regulator made “anti-competitive rules,” regarding swap trading data, that favor two...more
Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act") (enacted July 21, 2010) generally became effective on July 16, 2011. Since then, the Securities and Exchange Commission ("SEC") has...more
On the brink of the compliance date for arguably one of the most burdensome requirements that end-users face under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), the Commodity Futures Trading...more
The enactment of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) and its implementation by the Commodity Futures Trading Commission (“CFTC”) has ushered in a new era of...more
Beginning May 1, 2013, many new business conduct regulations adopted by the Commodity Futures Trading Commission (“CFTC”) pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) will begin to...more
In the wake of the financial crisis, global regulators have endeavored to undertake significant regulatory reform of the swaps markets. In 2009, the members of the G-20 agreed that: (i) the OTC derivatives contracts should be...more
On April 9, 2013, the Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight, responding to requests from multiple interested parties, issued a no-action letter (the No-Action Letter) extending the April...more
This is a reminder that tomorrow, April 10, 2013, is the deadline for parties to certain swap agreements to obtain a CICI identifying number. The April 10 deadline applies to any party who entered into a swap after April 25,...more
Some of the key changes to the swaps markets contemplated by the Dodd-Frank Act are starting to take effect. Some key upcoming deadlines affecting private investment funds are highlighted below.
The Board of Governors of the Federal Reserve System has approved a final rule setting forth requirements for determining when a company is “predominately engaged in financial activities.”...more
All swap market participants, including commercial end-users, should be aware of the upcoming April 10 deadline for Commodity Futures Trading Commission (CFTC) swap reporting and recordkeeping requirements under Parts 43, 45...more
Managers Who Use Swaps Should Act Now -
Managers of funds and separately managed accounts that use swaps are reminded that they (or their clients) must complete the DF Protocol Adherence Letter and DF Protocol...more
The CFTC has adopted a rule that exempts interaffiliate trades from the Dodd-Frank Act requirements for clearing. Barclays, JPMorgan Chase & Co., and other banks are among those exempt from the Dodd-Frank Act swap market...more
On March 22, the International Swaps and Derivatives Association (ISDA) published a new protocol (March 2013 Protocol) as part of its ongoing Dodd-Frank Documentation Initiative, which has the goal of assisting market...more
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the "Dodd-Frank Act") requires that swaps (as defined in 7 U.S.C. § 1a(47)) be entered into on designated contract markets unless the parties to the swap...more
Chris Ferreri is a managing director at ICAP North America, where he oversees ICAP ETC, the company’s hybrid brokered OTC solution. He was the first chairman of the Wholesale Markets Brokers’ Association Americas Inc. (WMBA...more
The Division of Market Oversight, or DMO, and Office of Data and Technology, or ODT of the CFTC have issued an advisory reminding all swap counterparties of the imminent April 10, 2013, deadline for each counterparty to...more
In secured lending transactions, lenders frequently allow, and even require, borrowers to enter into swap agreements and other financial derivatives to hedge against different business risks, including fluctuations in...more
Dodd-Frank derivatives rules have failed to give regulators a complete perspective of the swaps market, which includes the recent loss similar to the JPMorgan Chase & Co.’s London Whale trades....more
Please note the April 10, 2013, deadline to register and obtain a Legal Entity Identifier (LEI), described in the advisory recently released by the Commodity Futures Trading Commission (CFTC).
LEI registration is...more
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