A proposed CFTC exemptive order that would allow certain derivatives clearing organizations to invest futures and swap customer funds in French and German sovereign debt was published in the Federal Register.
News & Insights
The CFTC issued a proposed exemptive order to permit certain derivatives clearing organizations to invest futures and swap customer funds in French and German sovereign debt.
The CFTC Division of Swap Dealer and Intermediary Oversight issued guidance on the practical implementation of no-action relief for FCM investments in money market funds.
The CFTC issued a final rule and separate interpretive and no-action letters in order to improve the protection of customer funds.
After narrowly passing the House of Representatives on Thursday, the Consolidated and Further Continuing Appropriations Act of 2015 (the "Act") was passed by the Senate on Saturday. Preliminary bills leading up to the Act contained various financial regulatory reforms, including exemptions for small banks from both mortgage-underwriting standards and the Volcker rule, as well as a provision that would have subjected the Consumer Financial Protection Bureau to the Congressional appropriations process. Most of these reforms were omitted from the final text. The Act (Section 630 at page 615)