Podcast: CFTC Issues LIBOR Transition Relief for Swaps
Slick Transition: ICE Clear Europe’s Paul Swann Talks NYSE Integration
Open for Business: SEF Competition Heating Up in the New Market Structure
Open for Business: SEFs Navigate the New Regulatory Environment
CFTC’s Scott O’Malia Calls for a Plan of Action on Swap Data
Cross-Border Regulation of Swaps Update from ISDA's Robert Pickel (Part 1)
An Update on SEF, IDB and Swap Regulation from Chris Ferreri of ICAP
Jill Sommers Reflects on the CFTC, Dodd-Frank, and Her Future
CFTC Proposal Poses “Monumental” Challenge to FCMs
On Monday, November 27, 2021, the National Futures Association (NFA) submitted to the CFTC proposed amendments to NFA Compliance Rule 2-7 to exclude associated persons (APs), designated as “swap” APs, from the Branch Office...more
On November 18, the Commodity Futures Trading Commission (CFTC) unanimously approved a final rule establishing a framework for the Commission to grant an exemption from registration as a derivatives clearing...more
Swaps, together with repurchase agreements, forward contracts, securities contracts and commodities contracts receive special treatment under the bankruptcy code-they are largely exempt from the automatic stay, bankruptcy...more
CFTC Also Proposes Amendments to Help Non-U.S. CPOs and Extends its Uncleared Swap Margin Phase-In Schedule - During the period from late May 2020 through early June 2020, the Commodity Futures Trading Commission held...more
- Federal spot month limits would expand to cover 25 physical commodity futures, as well as certain “look alike” contracts and OTC swaps on the same underlying commodity. - Limits generally would be set at higher levels...more
Over the past five years, the Commodity Futures Trading Commission (CFTC) has settled 20 enforcement actions against financial institutions for violations of various Dodd-Frank Act regulatory requirements (i.e., rules other...more
Many tax-exempt bonds and related hedges, such as interest rate swaps ("Exempt Instruments"), use a LIBOR-based interest rate. LIBOR is going away, and existing Exempt Instruments are going to have to be modified to replace...more
This updated guide lays out the margin requirements for uncleared derivative transactions in a user-friendly comparative table. ...more
On August 8, 2018 the Commodity Futures Trading Commission (CFTC) voted unanimously to propose rules (Proposed Rules) which would codify policies and procedures related to exempting derivatives clearing organizations (DCOs)...more
On December 5, 2016, the Commodity Futures Trading Commission (“CFTC”) unanimously approved a final rule amending the requirements to aggregate positions subject to a CFTC-set speculative position limit (“Final Aggregation...more
One of the major goals of the Dodd-Frank Act, enacted in the wake of the financial crisis of 2008, was to bring the swaps market under regulation generally and to require that standardized swaps be cleared by a central...more
The CFTC has published a proposed supplement to its December 2013 proposed rule on position limits* that would, among other things, authorize designated contract markets and swap execution facilities (“exchanges”) to...more
Regulatory Developments - Client Alert: SEC Issues New Guidance on Excluding Shareholder Proposals under Rule 14a-8: Goodwin Procter’s Capital Markets practice has released a client alert on the SEC’s Division of...more
On September 15, the SEC issued an order extending temporary exemptions and exceptions from compliance with certain provisions of the Securities Exchange Act of 1934 (Exchange Act) applicable to security-based swaps (SB...more
The Commodity Futures Trading Commission has issued an order of exemption from registration as a derivatives clearing organization (DCO) to ASX Clear (Futures) Pty Limited (ASX). This is the first order that the CFTC has...more
The House and Senate have passed legislation which provides that swap end-users do not have to provide initial and variation margin for uncleared swaps as previously required by the Dodd-Frank Act. The provision is...more
The SEC adopted amendments to the expiration dates of certain interim final rules adopted in July 2011. The interim final rules provide exemptions under the Securities Act of 1933, the Securities Exchange Act of 1934, and...more
On February 5, the Securities and Exchange Commission issued an extension of interim final rules that provide exemptions for security-based swaps from securities laws under the Securities Act of 1933, the Securities Exchange...more
In this issue: - SEC Division of Corporation Finance Issues Guidance on Rule 506(c) Private Placements - SEC Issues No-action Relief Regarding Registration of M&A Brokers - CFTC Issues Guidance on New...more
Earlier this year, the Commodity Futures Trading Commission (CFTC) issued Cross-Border Guidance that set out the agency’s interpretation on the extent to which CFTC swap regulations would apply outside the U.S. The...more
CFTC Approves Final Cooperative Swap Clearing Exemption Rule and Issues Time-Limited No-Action Relied - On Tuesday, August 13, 2013, the Commodity Futures Trading Commission (the “CFTC”) issued a final rule to exempt...more
On June 17, the Commodity Futures Trading Commission’s Division of Market Oversight extended the no-action relief it previously granted to any person or entity offering, entering into, or rendering advice or services with...more
The Commodity Futures Trading Commission recently adopted regulations relating to the clearing exemption for swaps between certain affiliated entities. Pursuant to the final regulations, the clearing exemption is available to...more
On April 1, the Commodity Futures Trading Commission approved a final rule that permits certain affiliates to elect not to clear a swap. To qualify for the clearing exemption, the counterparties’ financial statements must be...more
On March 28, 2013, the Commodity Futures Trading Commission issued a final rule that largely affirmed its earlier proposal to exempt certain FERC and Texas PUC regulated transactions from CFTC jurisdiction and provided...more