In this issue:
- Derivatives
- Bank Prudential Regulation & Regulatory Capital
- Credit Ratings
- Financial Services
- Shadow Banking
- Funds
- Financial Market Infrastructure
- Enforcement
- People
- Excerpt from Derivatives:
CFTC Staff Issues Rule Interpretation Concerning Deposit of Customer Funds with UK Depositories -
On August 28, 2014, the US Commodity Futures Trading Commission’s (“CFTC”) Division of Swap Dealer and Intermediary Oversight (“Division”) issued an interpretation of CFTC Regulation 30.7(c) under the Commodity Exchange Act allowing futures commission merchants (“FCMs”) to deposit customer funds used to margin foreign futures positions with UK-licensed investment firms that hold such funds under the UK Financial Conduct Authority’s (“FCA”) client money rules or as bank deposits subject to the UK Prudential Regulation Authority’s (“PRA”) rules.
Please see full publication below for more information.