The CFTC’s newly proposed rules on cross-border transactions address which swap activities affect swap-dealer thresholds and trigger transaction-level swap requirements. These are the latest in a series of CFTC rulemakings,...more
On May 24, 2016, the Commodity Futures Trading Commission (CFTC) adopted final rules (cross-border margin rules) that specify how its recently issued uncleared margin rules apply to cross-border transactions. Chairman Timothy...more
The Commodity Futures Trading Commission (CFTC or Commission) adopted a final rule effective March 21, 2016, that eliminates the reporting and recordkeeping requirements under the CFTC’s existing trade option exemption for...more
The Commodity Futures Trading Commission (“CFTC”) unanimously approved a final rule (“Final Rule”) that formally extends the existing registered futures association (“RFA”) membership requirement to registered introducing...more
9/14/2015
/ Brokers ,
CFTC ,
Commodity Pool ,
Commodity Trading Advisors (CTAs) ,
CPOs ,
Derivatives ,
Final Rules ,
Investment Adviser ,
Major Swap Participants ,
National Futures Association ,
NFA ,
Registered Futures Association Membership ,
Registration Requirement ,
Swap Dealers ,
Swaps
On August 5, 2015, the Securities and Exchange Commission (SEC) adopted final registration rules for security-based (SB) swap dealers and major SB swap participants (collectively SBS Entities). Concurrently, the SEC also...more
8/13/2015
/ CFTC ,
Dodd-Frank ,
Major Swap Participants ,
Registration Requirement ,
SBS Entities ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Security-Based Swaps ,
Swap Dealers ,
Swaps ,
Threshold Requirements
On May 12, 2015, the Commodity Futures Trading Commission (CFTC) issued revised interpretive guidance for forward contracts with embedded volumetric optionality (EVO). In 2012, the CFTC and Securities and Exchange Commission...more
Last week, the Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) issued no-action relief that provides chief compliance officers (CCOs) of registered swap dealers (SDs),...more
Annual Report Advisory -
On December 22, 2014, the Division of Swap Dealer and Intermediary Oversight (Division) of the U.S. Commodity Futures Trading Commission (CFTC) released an advisory (Advisory) providing...more
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
On May 2, 2014, the Securities and Exchange Commission (SEC)published in the Federal Register proposed regulations1 that would implement the recordkeeping, reporting and notification requirements of the Dodd-Frank Wall Street...more
The Commodity Futures Trading Commission (CFTC or Commission) recently adopted several rules to improve large trader reporting, facilitate segregation of customer swap margin and enhance customer protections for futures and...more
11/13/2013
/ CFTC ,
Commodity Exchange Act (CEA) ,
Customer Funds Protection ,
Derivatives Clearing Organizations ,
Dodd-Frank ,
Futures Commission Merchants (FCMs) ,
Major Swap Participants ,
Mandatory Clearing Requirements ,
Margin Requirements ,
Reporting Requirements ,
Segregation Requirements ,
Swap Dealers ,
Swaps
On September 12, 2013, the Commodity Futures Trading Commission (CFTC) published a concept release (Concept Release or Release) requesting information about current market practices relating to the use of automated trading...more
At a public meeting on July 12, 2013, the Commodity Futures Trading Commission (CFTC or Commission) adopted final guidance on how Dodd-Frank Act requirements will apply to cross-border swap activities (Guidance). In...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
Swaps trade in a global market. Title VII of the Dodd-Frank Act amended the Commodity Exchange Act (CEA) to impose a panoply of regulation on the swaps market mostly through regulations adopted by the Commodity Futures...more