ARTICLE
15 April 2021

Effective And Compliance Dates Set For CFTC "Comprehensive Update" To Bankruptcy Regulations

CW
Cadwalader, Wickersham & Taft LLP

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Cadwalader, established in 1792, serves a diverse client base, including many of the world's leading financial institutions, funds and corporations. With offices in the United States and Europe, Cadwalader offers legal representation in antitrust, banking, corporate finance, corporate governance, executive compensation, financial restructuring, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense.
The CFTC published in the Federal Register amendments to the bankruptcy regulations (CFTC Rules Part 190) to "reflect current market practices and lessons learned from past commodity broker bankruptcies."
United States Insolvency/Bankruptcy/Re-Structuring

The CFTC published in the Federal Register amendments to the bankruptcy regulations (CFTC Rules Part 190) to "reflect current market practices and lessons learned from past commodity broker bankruptcies."

The amendments go into effect on May 13, 2021. The compliance date for new CFTC Rule 1.43 ("Letters of credit as collateral") is April 13, 2022, for letters of credit accepted, and customer agreements entered into, by a futures commission merchant before the effective date of the amendments.

See here for related coverage of the amendments.

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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