This periodic bulletin is designed to help companies identify important legal developments governing the use and acceptance of blockchain technology, smart contracts, and digital assets. While the use cases for blockchain...more
In this newsletter, we provide a snapshot of the principal Asian, US, European and selected international governance and securities law developments of interest to Asian corporates and financial institutions. ...more
On July 19, 2018, the International Swaps and Derivatives Association (ISDA) and the Securities Industry and Financial Markets Association (SIFMA) published a white paper entitled "Initial Margin for Non-Centrally Cleared...more
SEC Division of Investment Management Letter on Cryptocurrency Related Investment Products; Joint Statement by SEC and CFTC Enforcement Directors Regarding Virtual Currency Enforcement Actions - On January 18, 2018, in a...more
Financial Industry Developments - Agencies Issue Advanced Notice of Proposed Rulemaking on Enhanced Cyber Risk Management Standards - On October 19, 2016, the Federal Reserve Board, the Federal Deposit Insurance...more
Timothy Massad, Chairman of the CFTC, spoke at the SIFMA annual meeting about clearinghouse regulation, technological changes and finishing Dodd-Frank rulemaking. Massad first highlighted ongoing CFTC work regarding stress...more
Recently, attorneys from K&L Gates’ Government Enforcement practice group attended the Securities Industry and Financial Markets Association’s (“SIFMA”) Compliance and Legal Society Annual Seminar. We wanted to share with you...more
Recently, partners from K&L Gates’ Government Enforcement, Broker-Dealer and Investment Management practice groups attended the Securities Industry and Financial Markets Association’s (“SIFMA”) Compliance and Legal Society...more
On March 10, the Commodity Futures Trading Commission released an initial response to the order of the US District Court for the District of Columbia in SIFMA v. CFTC remanding eight swaps-related rulemakings to the CFTC. As...more
On March 10, the CFTC issued a request for comment in response to an order issued by the U.S. District Court for the District of Columbia in the matter Securities Industry and Financial Markets Association, et al. v. United...more
Editor’s Note - CFTC Commissioner Giancarlo Proposes “Pro-Reform Reconsideration” of the Swaps Trading Rules. On January 29, CFTC Commissioner J. Christopher Giancarlo published a whitepaper titled “Pro-Reform...more
Toward the end of 2014, the staff of the Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) issued two letters affecting insurance-linked securitization vehicles: CFTC...more
Prudential Regulators and CFTC Re-Propose Rules for Uncleared Swap Margin - Both the Commodity Futures Trading Commission and the prudential regulators re-proposed their April 2011 proposed rules imposing initial and...more
Senior Fed Officials Encourage Financial Industry Firms to Improve Compliance Culture - Enhancing culture was the theme at a workshop on “Reforming Culture and Behavior in the Financial Services Industry” held at the...more
There were a number of new developments with respect to the cross-border application of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) requirements for swaps in the latter part of 2013. This...more
The Securities Industry and Financial Markets Association (“SIFMA”), International Swaps and Derivatives Association (“ISDA”), and Institute of International Bankers (“IIB”) filed a suit against the CFTC in the U.S. District...more
The Securities Industry and Financial Markets Association, the International Swaps and Derivatives Association, Inc. and the Institute of International Bankers (collectively, Trade Associations) filed a complaint challenging...more
The CFTC’s Division of Swap Dealer and Intermediary Oversight (the “Division”) granted no-action relief (the “No-Action Relief”) in response to a request from the Investment Company Institute (the “ICI”) and the Securities...more
The federal budget sequester and recent Supreme Court decision in Gabelli et al. v. Securities and Exchange Commission, 568 U.S. ____ (2013), will not substantially slow down regulators’ enforcement efforts, according to...more
In This Issue: - Financial Industry Developments · CFTC Final Rule on Clearing of Credit Default Swaps and Interest Rate Swaps · Fed, Treasury Proposed Amendments to Bank Secrecy Act Definitions ...more