ISDA CEO Scott O’Malia reported that ISDA continues to work with global policymakers to improve margining practices that can mitigate the impact of "extreme" volatility.
News & Insights
A cryptocurrency exchange settled New York State Department of Financial Services charges for failing to establish a compliance program to satisfy (i) New York banking law and (ii) NYDFS virtual currency, money transmitter, transaction monitoring and cybersecurity regulations.
Treasury announced that, after the necessary consultation with the FDIC and the SEC, it is providing a retail broker-dealer with a conditional exemption from certain Dodd-Frank recordkeeping requirements for certain of its qualified financial contracts.
In a supervision and regulation letter to institutions that have large derivatives portfolios and relationships with investment funds, the Federal Reserve Board reiterated previously issued expectations as to large banks' counterparty credit risk management and margin practices.
In a joint statement, the FRB and the OCC said they will not recommend enforcement action against swap dealers that are parties to certain legacy swaps in connection with the UK's departure from the EU.