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 SEC adopted changes to the exemptions for certain clearing agencies and broker-dealer/futures commission merchants concerning the portfolio margining of swaps and security-based swaps that are cleared credit default swaps.
The CFTC Market Participants Division clarified certain requirements applicable to swap dealers using models to calculate certain aspects of the CFTC capital requirements.
The SEC proposed replacing an exemption for certain clearing agencies and dual registrant broker-dealers concerning the portfolio margining of swaps and security-based swaps that are cleared credit default swaps.