Several industry associations provided commentary on a CFTC proposal to apply federal speculative position limits to 25 "core referenced futures contracts," including futures and options linked to those contracts and economically equivalent swaps.
Industry associations urged the Basel Committee on Bank Supervision and IOSCO to publicly recommend an extension of the implementation deadlines for the Phase 5 and Phase 6 initial margin requirements for uncleared derivatives.
SIFMA, IIB, ISDA, and FIA recommended changes to CFTC-proposed cross-border regulations concerning registration thresholds and certain requirements applicable to swap dealers and major swap participants.
The Institute of International Bankers, ISDA and SIFMA and NFA recommended several modifications to a CFTC proposal to amend capital and financial reporting requirements for swap dealers and major swap participants.
The Futures Industry Association, the MFA, SIFMA and the Institute of International Bankers, and SIFMA AMG offered recommendations on the CFTC's proposed amendments to uncleared swap margin regulations.
A group of fourteen trade associations urged the European Commission to grant an extension for the temporary equivalence for UK central counterparties until certain regulatory implementations have been made under EMIR 2.2 and until the European Securities and Markets Authority.
Trade associations commented on central counterparty default management issues raised by the Committee on Payments and Market Infrastructures and IOSCO.
Several major trade associations called on U.S. prudential regulators and the CFTC to expand the types of money market funds eligible for derivatives initial margin.
Trade associations urged U.S. regulators to provide guidance on implementing BCBS-IOSCO recommended exemptions from swaps margin requirements where the amounts to be transferred are below relevant thresholds.
ISDA, SIFMA, SIFMA AMG and the Association of the Luxembourg Fund Industry called on regulators to make changes to uncleared derivatives margin requirements under the European Market Infrastructure Regulation.
SIFMA recommended a new approach to strengthen cross-border cooperation among regulators to "enhance the coherence of their respective regulations" and "enshrine[] cooperation within legally binding trade agreements."
ISDA and SIFMA urged the SEC to address any disparities between SEC proposed rules on "risk mitigation techniques" for security-based swaps and the existing swap rules of the CFTC.
ISDA, SIFMA, the American Bankers Association, the Bank Policy Institute and the FIA commented on a proposal by U.S. banking regulators to implement the "standardized approach for counterparty credit risk" in U.S. capital rules.
The U.S. District Court for the District of Connecticut ordered a former precious metals trader to pay a civil monetary penalty for placing orders with the intention of canceling them prior to execution.
SIFMA, the Managed Funds Association and ISDA questioned the need for a Global LEI System designed to "collect fund relationships that do not roll up to the same balance sheet or financial statement."
SIFMA Asset Management Group and the National Futures Association urged the CFTC to amend its proposal to simplify regulatory obligations for commodity pool operators and commodity trading advisors.
The U.S. District Court for the Southern District of New York determined that the CFTC failed to prove that a Chicago trader and his firm had either manipulated or attempted to manipulate the price of certain interest rate swaps.
SIFMA, ISDA, and the FIA, among others, urged the SEC to substantially revise proposed rules on capital, margin and segregation requirements for security-based swap dealers.
A U.S. District Court ruled in favor of the Board of Trade of the City of Chicago, Inc. and Chicago Mercantile Exchange, Inc. from allegations that they conspired to stop the CFTC from approving the application of a competing exchange.
