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The CFTC extended the comment period for a proposal to adopt capital requirements for swap dealers ("SDs") and major swap participants ("MSPs") that are not subject to the capital rules of a prudential regulator.
The CFTC extended the comment period for a proposal to
adopt capital requirements for swap dealers ("SDs") and
major swap participants ("MSPs") that are not subject to
the capital rules of a prudential regulator (see previous coverage). Comments on the proposal
now must be submitted by May 15, 2017.
In addition to proposing minimum capital and financial reporting
requirements for SDs and MSPs, the proposal would (i) require
certain SDs and MSPs to satisfy defined liquidity requirements, and
(ii) establish specific capital requirements for futures commission
merchants that engage in swaps or activities related to
security-based swaps.
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