On March 5, 2016, the Board of Governors of the US Federal Reserve System (Federal Reserve) re-proposed a rule, originally proposed in 2011, that would implement the single-counterparty credit limits (SCCL) contained in section 165(e) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) (SCCL Proposal).
On July 16, 2015, a much-anticipated new Volcker Rule Frequently Asked Question was issued regarding the potential "banking entity" status of US registered investment companies and foreign public funds during their respective seeding periods.
The US Securities and Exchange Commission has adopted final rules regarding the cross-border application of certain security-based swap provisions of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
On February 18, 2014, the Board of Governors of the Federal Reserve System approved a final rule implementing the enhanced prudential standards contained in section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act for US bank holding companies and foreign banking organizations.
Keywords: CFTC, cross-border transaction level requirements, non-U.S. swap dealers, SDs
On January 3, 2014, the U.S. Commodity Futures Trading Commission (CFTC) invited public comment on a Staff Advisory1 issued on November 14, 2013, and the CFTC staff simultaneously extended the expiry date of time-limited no-action relief from the effect of the Staff Advisory granted to non-U.S. swap dealers (SDs) transacting, aided by U.S. personnel, with non-U.S. persons (other than guaranteed affiliates or
On December 4, 2013, the International Swaps and Derivatives Association, the Securities Industry and Financial Markets Association and the Institute of International Bankers sued the CFTC for defects in the CFTC’s "Interpretive Guidance and Policy Statement Regarding Compliance with Certain "Regulations" (the "ET Guidance").
The US Commodity Futures Trading Commission recently approved the issuance of an interpretive guidance and policy statement regarding the crossborder application of the swaps provisions of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The US Commodity Futures Trading Commission issued a release containing a final exemptive order and proposing for public comment additional cross-border guidance regarding the cross-border regulation of swaps.