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.
CFTC Chair J. Christopher Giancarlo questioned whether current policies affecting the Treasury futures markets provide an effective balance between risk reduction and liquidity to encourage economic growth and prosperity.
In an interview conducted by CFTC Chief Market Intelligence Officer Andrew Busch, Harvard Law Professor Dr. Hal Scott discussed the 2008 financial crisis and where he sees financial market regulation heading in the U.S.
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 SEC proposed rules requiring the adoption of liquidity risk management programs by SEC-registered, open-end investment companies. Under the Proposed Rule 22e-4, mutual funds and exchange-traded funds ("ETFs") would be required to implement liquidity risk management programs and to improve their...
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