TBAs and the MSFTA | Cadwalader Cabinet | Find Know Do

TBAs and the MSFTA

Overview

This page is focused on the terms of the Master Securities Forward Agreement and TBA Transactions and the principal regulatory issues that such agreements raise. Separate pages are focused on Securities Lending Agreements and on Repurchase Agreements. See also the bottom of this page for other closely related subjects.

Steven.Lofchie@cwt.com's picture

Contributor Organization

Cadwalader, Wickersham & Taft LLP

Contributor Title

Partner

nihal.patel@cwt.com's picture

Contributor Organization

Cadwalader, Wickersham & Taft LLP

Contributor Title

Partner

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FINRA Rule 4210 Versions

FINRA Rule 4210 (Valid from Nov. 7, 2013 Through Dec. 14, 2016)
FINRA Rule 4210 (Effective Dec. 15, 2016)
FINRA Rule 4210 (Effective June 25, 2018)
Comparison of the rule and the rule effective 6/2018

FINRA Rule Filing and Amendments

Rule Filing SR-FINRA-2017-029 (Sept. 2017)
Amendment No. 3 (May 2016)
Amendment No. 2 (Mar. 2016)
Amendment No. 1 (Jan. 2016)
Rule Filing SR-FINRA-2015-036 (Oct. 2015)

FINRA Notices and FAQs

SEC Federal Register Releases

Developments

Regulatory Assistance

Guidance

Comment Letters

All Letters to the SEC (External link)
All Letters to FINRA (External link)
SIFMA Comment Letters (External links)
- SIFMA Comments to the SEC (May 2, 2016)
- SIFMA Comments to the SEC (February 11, 2016)
- SIFMA AMG Supplemental Comments to the SEC (February 11, 2016)
- SIFMA Comments to the SEC (November 10, 2015)
- SIFMA AMG Comments to the SEC (November 10, 2015)
- SIFMA AMG Comments to FINRA (March 28, 2014)
- SIFMA Comments to FINRA (March 28, 2014)

Know

Know:

Cadwalader Materials

SIFMA Materials

The MSFTA and MSFTA Drafting Issues

Do

Do:

Expert Systems for TBAs

Systems for Exempt Accounts, Margin on Standard Debt Instruments and Margin on TBAs under the not-yet-effective FINRA Rule 4210 Rule Change