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
August 2024 - The Commodity Futures Trading Commission (CFTC) has recently concluded the public comment period for its proposed rule to ban trading in derivatives tied to U.S. election outcomes. If approved, the proposed...more
If adopted, the proposals will likely impact market practices - In a trinity of proposing releases rolled out in less than three months, the SEC has comprehensively proposed to regulate the use of derivatives and short...more
On January 30, 2020, the Commodity Futures Trading Commission (CFTC or Commission) voted 3-2 to issue a proposed rulemaking on speculative position limits (the Proposal). The Proposal would apply spot month-only federal...more
Will the fourth time be the charm? This week, the Commodity Futures Trading Commission will try for the fourth time since 2011 to revise its speculative position limits rules. Details have not been made public, but Heath...more
For a variety of reasons, as has been widely reported, LIBOR is to cease to be published by the end of 2021 and this expected elimination of the index upon which financing transactions are based raises serious tax and non-tax...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
• New legislation has been proposed in Pennsylvania imposing specific restrictions and parameters on interest rate swaps entered into by certain cities, counties and municipal authorities in the Commonwealth, and imposing new...more
At the Commodity Futures Trading Commission's open meeting on June 4, 2018, the CFTC voted to propose rules that would permanently maintain the swap dealer de minimis registration threshold at $8 billion. The Commission voted...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
Federal Reserve, OCC, FCA, FHFA and FDIC Adopt Joint Final Rule on Swap Margin Requirements - On October 22, the Office of the Comptroller of the Currency (the "OCC"), the Federal Reserve Board (the "Board"), the Farm...more
Regulatory Developments - SEC to Vote on Final Title III Crowdfunding Rules Oct. 30: The SEC has announced that it will vote on whether to adopt rules and forms related to the offer and sale of securities through...more
BROKER-DEALER - FINRA Requests Comment on Revised Price Disclosure Information Standards for Corporate and Agency Debt Securities - The Financial Industry Regulatory Authority issued a regulatory notice...more
The Treasury and the IRS have delayed implementation of the recently announced rule change that treats certain types of upfront payments on swaps as loans for federal income tax purposes (including for purposes of the...more
On September 22, 2015, the Commodity Futures Trading Commission (CFTC or Commission) unanimously approved the publication of a “supplemental” proposed rule on position limits. The supplemental proposal would modify the...more
Regulatory Developments - CFTC Issues Proposed Amendments to Swap Data Recordkeeping and Reporting Requirements for Cleared Swaps: On Aug. 19 the CFTC announced that it had voted to propose amendments to existing...more
The CFTC has proposed rules that would define the reach of Dodd-Frank Act margin requirements in cross-border swap transactions. On June 29, 2015, the US Commodity Futures Trading Commission (CFTC) proposed regulations...more
On June 29, 2015, the Commodity Futures Trading Commission (“CFTC”) issued proposed rules (“Proposed Rules”) regarding the cross-border application of its proposed uncleared swaps margin rules issued last October. The...more
On June 29, the U.S. Commodity Futures Trading Commission voted unanimously to propose a rule that would apply the Commission’s margin requirements for uncleared swaps in the context of cross-border transactions (Proposed...more
On May 8, 2015, the Treasury Department and the Internal Revenue Service published temporary and proposed regulations under IRC §§ 446 and 956 (T.D. 9719; REG-102656-15), clarifying when nonperiodic payments made pursuant to...more
With recent release, the CFTC hopes to eliminate market uncertainty on forward contracts with embedded volumetric optionality. The comment period recently closed for a proposed interpretation (the Proposal) to further...more
The Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Farm Credit Administration, and the Federal Housing Finance Agency...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
On September 17, the Commodity Futures Trading Commission issued proposed rules that would impose margin requirements on certain market participants with respect to their transactions in uncleared swaps. ...more
Five federal agencies have taken a second stab at a proposed rule to establish margin requirements for swap dealers, major swap participants, security-based swap dealers, and major security-based swap participants as...more
On September 3, the Federal Reserve Board, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, Federal Housing Finance Agency and Farm Credit Administration (collectively, Agencies) proposed...more