The House Financial Services Committee considered (i) testimony from federal banking regulators on a broad range of concerns and (ii) several proposed bills imposing additional requirements on financial institutions.
The CFTC voted to propose amending its uncleared swap margin regulations to (i) extend the implementation date of initial margin requirements, and (ii) exempt certain transactions from uncleared margin requirements.
The Consumer Financial Protection Bureau requested comments on its proposed amendments to procedures and rules for the disclosure of records and information. The request for comments was published in the Federal Register.
House Agriculture Committee leadership urged federal banking regulators and the CFTC to work with the European Commission to: (i) adhere to the agreed upon timetable for implementation of rules on margin for uncleared swaps, or if that effort is unsuccessful, (ii) to coordinate a new global implementation timeline.
The CFTC Division of Swap Dealer and Intermediary Oversight and Division of Market Oversight extended no-action relief to certain commodity trading advisors from the requirement to record oral communications under CFTC Rule 1.35(a) ("Records of Commodity Interest and Related Cash or Forward...
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