Body of Law:
A CFTC proposal amending uncleared swap margin regulations to exempt certain transactions from the European Stability Mechanism was published in the Federal Register. See previous coverage. Comments must be submitted by December 23, 2019.
The CFTC voted to propose amending its uncleared swap margin regulations to (i) extend the implementation date of initial margin requirements, and (ii) exempt certain transactions from uncleared margin requirements.
The FDIC proposed amending its rules governing margin requirements for uncleared swaps and security-based swaps.
On June 21, 2019, the SEC adopted new rules and rule amendments that establish security-based swap capital, margin and segregation requirements.
CFTC Commissioner Brian Quintenz urged European Union regulatory authorities to recommit to deference-based regulation of cross-border central counterparties.
CFTC Commissioners urged European Union regulators to continue cross-border regulatory deference, notwithstanding the United Kingdom's exit from the EU.
The CFTC Division of Clearing and Risk provided exemptive relief to three international financial institutions from the swap clearing requirement.
The CFTC issued no-action relief that exempts certain swap dealers from "Final Margin Rule" requirements when entering into uncleared swaps.
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