Topic
Swaps
164 published works
Global Regulation Tomorrow
In anticipation of Brexit, US regulators address status of certain swaps under the Swaps Margin Rule
By Kathleen Scott (US), Lillian A. Cardona (US)
With the next 10 days being crucial in the Brexit process, following the UK House of Commons rejecting the draft withdrawal agreement for a third time and the European Council…
Corporate & Financial Weekly Digest
CFTC Issues Staff Letters Related to Eurex Clearing AG
By Kevin M. Foley, Stanley V. Polit
On December 20, the US Commodity Futures Trading Commission’s Division of Clearing and Risk (DCR) and Division of Swap Dealer and Intermediary Oversight (DSIO) issued several staff letters related to…
Corporate & Financial Weekly Digest
NFA Proposes Amendments Incorporating Swaps into Compliance Rules and Interpretive Notices
By Christian B. Hennion, Jun Qiu
On December 10, the National Futures Association (NFA) submitted to the Commodity Futures Trading Commission for review and approval proposed amendments to various NFA Compliance Rules and four NFA Interpretive…
Corporate & Financial Weekly Digest
CFTC Takes Action on Rules Relating to Swaps and Swap Execution Facilities
By Kevin M. Foley, Gregory A. Uffner, Leonard Licht
On November 5, the Commodity Futures Trading Commission held an open meeting to consider the following matters relating to swaps and swap execution facilities: Final Rule: Amending the De Minimis…
Corporate & Financial Weekly Digest
SEC Issues Statement on Swap Business Conduct Rules
On October 31, the Securities and Exchange Commission took an unusual additional step towards implementing its rules for security-based swaps (SBS) by issuing a document entitled “Commission Statement on Certain…
Corporate & Financial Weekly Digest
CFTC’s Office of the Chief Economist Issues Report on Initial Margin Phase 5
By Kevin M. Foley, Timothy D. Nolan
On October 31, the Commodity Futures Trading Commission’s Office of the Chief Economist issued a report on “Phase 5” of the uncleared margin rules (UMR). The purpose of the report…
Derivatives & Repo Report
Swaps and Retail Commodity Transactions (Leverage, Margin or Financing: Will We Know It When We See It or Only After It Has Been Identified As Such?)
By Perkins Coie
This post builds upon an idea presented in Part 4 of current series of posts on considerations for investment funds and advisers related to cryptocurrency derivatives. In particular, this post…
Corporate & Financial Weekly Digest
CFTC Grants Relief to Certain Non-US Persons in Determining Swap Dealer and Major Swap Participant Status
By Ayah K. Sultan, Guy C. Dempsey Jr.
On May 16, the Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) provided no-action relief for certain non-US persons from counting swaps with international financial institutions,…
Corporate & Financial Weekly Digest
CFTC Issues No-Action Letter Extending Swap Reporting Relief for Enumerated Jurisdictions
On November 30, the Commodity Futures Trading Commission issued No-Action Letter (NAL) 17-64, which extends, for an additional three years, swap reporting relief originally granted to most swap dealers established…
Corporate & Financial Weekly Digest
CFTC’s Division of Clearing and Risk Provides No-Action Relief to Certain Foreign Financial Institutions From Swap Clearing Requirements
By Kevin M. Foley, Stanley V. Polit
On November 7, the Commodity Futures Trading Commission’s (CFTC) Division of Clearing and Risk (DCR) published Staff Letters 17-57, 17-58 and 17-59 (Staff Letters), which provided Banco Centroamericano de Integración…