Swaps, Dodd-Frank | JD Supra Law News

SEF Rules Approval Leads To Early December Projection For Transacting All Standardized Swaps On SEFs

by Elan Mendel | Shipkevich PLLC on 5/20/2013

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

Financial Services Legislative and Regulatory Update -- May 13‚ 2013

by Abby Matousek, Jason M. Rosenstock | Mintz Levin - Public Finance on 5/13/2013

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

Financial Services Bulletin: Action At The SEC

by Perkins Coie on 5/10/2013

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

CFTC Considering Lower Price Quote Requirement For Dodd-Frank Swap Rule

by Elan Mendel | Shipkevich PLLC on 5/9/2013

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

SEC Issues Proposal Regarding Cross-Border Security-Based Swap Activities

by James M. Brady, Ross Pazzol | Katten Muchin Rosenman LLP on 5/7/2013

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

DTCC Sues CFTC Over “Anti-Competitive Swap Trading Data Rules”

by Elan Mendel | Shipkevich PLLC on 5/6/2013

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

SEC Proposed Rules and Interpretive Guidance for Cross-Border Security-Based Swap Activities

by White & Case LLP on 5/3/2013

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

Legal Alert: Nearly at the Buzzer, CFTC Affords End-Users Relief from Dodd-Frank Reporting Requirements

by Cheryl I. Aaron, James M. Cain, Doyle Campbell, Kalaundra Y. Carreathers, Warren N. Davis, Jacob Dweck, Daphne G. Frydman, Meghan R. Gruebner, Alexander S. Holtan, Meltem F. Kodaman, more +Catherine M. Krupka, David T. McIndoe, Raymond A. Ramirez, Mark D. Sherrill, R. Michael Sweeney, Jr. | Sutherland Asbill & Brennan LLP on 4/22/2013

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 New CFTC Regulatory Regime For Private Fund Managers; First Quarter 2013 Update

by Edward Eisert, Evelyn Grant, Nik Mathews, Jonas Robison | Orrick, Herrington & Sutcliffe LLP on 4/19/2013

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

New Swap Business Conduct and Record-Keeping Regulations Kick in for Municipal Bond Issuers and Borrowers

by Nicholas Bentley, Meghan Burke, Charles Carey, Steve Ganis, Gregory Sandomirsky, Len Weiser-Varon | Mintz Levin - Public Finance on 4/18/2013

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

The Extraterritorial Reach of Derivative Regulation Under Dodd-Frank

by Eileen Bannon | Holland & Knight LLP on 4/15/2013

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

Skadden, Arps, Slate, Meagher & Flom LLP

"CFTC Delays April 10 Compliance Date for Many Swap Data Reporting Requirements"

by Maureen A. Donley, Elizabeth Doyle, Ryan Elsey, Joyce Penn Farnsworth, Ann Hawkins, Theodore M. Kneller, Daniel S. Konar II, Yossi Vebman, Mark D. Young | Skadden, Arps, Slate, Meagher & Flom LLP on 4/11/2013

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

Reminder Regarding April 10 Deadline for Identifying Number Registration by Some Swap End-Users

by Nicholas Bentley, Len Weiser-Varon | Mintz Levin - Public Finance on 4/10/2013

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

Upcoming Deadlines for Private Funds that Trade Swaps

by Proskauer Rose LLP on 4/10/2013

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. ...more

Federal Reserve Board Approves Final "Predominately Engaged in Financial Activities" Rule

by Guy C. Dempsey, Jr. | Katten Muchin Rosenman LLP on 4/9/2013

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

Impending Swap Reporting Requirements to Impact All Swap Market Participants

by Maureen A. Donley, Joyce Penn Farnsworth, Ann Hawkins, Theodore M. Kneller, Daniel S. Konar II, Yossi Vebman, Mark D. Young | Skadden, Arps, Slate, Meagher & Flom LLP on 4/5/2013

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

DF Protocol Deadline is May 1, 2013

by Jeffrey D. Collins, Diana W. Lo | Foley Hoag LLP on 4/3/2013

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

CFTC Exempts Interaffiliate Trades From Dodd-Frank Clearing

by Elan Mendel | Shipkevich PLLC on 4/2/2013

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

New ISDA Protocol for Swap Documentation

by Guy C. Dempsey, Jr. | Katten Muchin Rosenman LLP on 4/2/2013

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

CFTC's No-action Relief on Guarantor Swap Requirements Ends March 31, 2013

by Kenneth Freeman, Bryan Petkanics, Anthony Pirraglia, Peter Seiden | Loeb & Loeb LLP on 3/27/2013

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

An Update on SEF, IDB and Swap Regulation from Chris Ferreri of ICAP [Video]

by MarketsReformWiki on 3/26/2013

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

CFTC Reminds All Swap Counterparties Of April 10 Deadline To Obtain A CICI Identifier

by Stephen M. Quinlivan | Leonard, Street and Deinard - Dodd-Frank and... on 3/21/2013

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

Burr Alert: CFTC Issues New Guidelines Concerning Eligibility Of Swap Guarantors

by Adam Sonenshine | Burr & Forman on 3/21/2013

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 Swap Data Overlooked In JPMorgan Whale Mess

by Felix Shipkevich | Shipkevich PLLC on 3/20/2013

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

Party to a Swap Contract? CFTC Registration Rules Apply

by Daniel Danello, Mitchell Kolkin | Venable LLP on 3/20/2013

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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Swaps › Dodd-Frank Wall Street Reform and Consumer Protection Act

SEF Rules Approval Leads To Early December Projection For Transacting All Standardized Swaps On SEFs

Financial Services Legislative and Regulatory Update -- May 13‚ 2013

Financial Services Bulletin: Action At The SEC

CFTC Considering Lower Price Quote Requirement For Dodd-Frank Swap Rule

SEC Issues Proposal Regarding Cross-Border Security-Based Swap Activities

DTCC Sues CFTC Over “Anti-Competitive Swap Trading Data Rules”

SEC Proposed Rules and Interpretive Guidance for Cross-Border Security-Based Swap Activities

Legal Alert: Nearly at the Buzzer, CFTC Affords End-Users Relief from Dodd-Frank Reporting Requirements

The New CFTC Regulatory Regime For Private Fund Managers; First Quarter 2013 Update

New Swap Business Conduct and Record-Keeping Regulations Kick in for Municipal Bond Issuers and Borrowers

The Extraterritorial Reach of Derivative Regulation Under Dodd-Frank

"CFTC Delays April 10 Compliance Date for Many Swap Data Reporting Requirements"

Reminder Regarding April 10 Deadline for Identifying Number Registration by Some Swap End-Users

Upcoming Deadlines for Private Funds that Trade Swaps

Federal Reserve Board Approves Final "Predominately Engaged in Financial Activities" Rule

Impending Swap Reporting Requirements to Impact All Swap Market Participants

DF Protocol Deadline is May 1, 2013

CFTC Exempts Interaffiliate Trades From Dodd-Frank Clearing

New ISDA Protocol for Swap Documentation

CFTC's No-action Relief on Guarantor Swap Requirements Ends March 31, 2013

An Update on SEF, IDB and Swap Regulation from Chris Ferreri of ICAP [Video]

CFTC Reminds All Swap Counterparties Of April 10 Deadline To Obtain A CICI Identifier

Burr Alert: CFTC Issues New Guidelines Concerning Eligibility Of Swap Guarantors

Dodd-Frank Swap Data Overlooked In JPMorgan Whale Mess

Party to a Swap Contract? CFTC Registration Rules Apply

An Update on SEF, IDB and Swap Regulation from Chris Ferreri of ICAP [Video]

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