United States:
Federal Register: CFTC Proposes Certain Cross-Border DCO Rule Changes
29 July 2019
Cadwalader, Wickersham & Taft LLP
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A CFTC proposal on the registration of low-risk, non-U.S. DCOs
was published in the Federal Register. Comments
must be submitted by September 17, 2019.
As previously covered, the proposed rule would
formalize the CFTC's approach to registration of non-U.S. DCOs
that clear swaps for U.S. persons. The proposal would also
establish a process by which non-U.S. DCOs that do not pose a
substantial risk to the U.S. financial system can register with the
CFTC but satisfy compliance obligations by satisfying home country
requirements.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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