CFTC Commissioner Summer K. Mersinger asserted that the Basel III Endgame Proposal, if adopted, would have a significant negative impact on derivatives markets.
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The CFTC proposed amendments to rules that impose minimum capital requirements and financial reporting obligations on swap dealers and major swap participants.
The CFTC Market Participants Division clarified certain requirements applicable to swap dealers using models to calculate certain aspects of the CFTC capital requirements.
A futures commission merchant and four introducing brokers settled CFTC charges for failure to meet minimum net capital requirements.
The CFTC Division of Swap Dealer and Intermediary Oversight granted no-action relief to a futures commission merchant seeking to to add back to its net worth the amount of deferred tax liabilities "directly related" to intangible assets recognized for GAAP purposes as a result of a non-taxable business combination.