SIFMA, IIB, ISDA, and FIA recommended changes to CFTC-proposed cross-border regulations concerning registration thresholds and certain requirements applicable to swap dealers and major swap participants.
The CFTC voted to (i) approve a final rule amending regulations governing derivatives clearing organizations, (ii) propose a prohibition on "post-trade name give-up" at swap execution facilities and (iii) propose new cross-border rules governing registration requirements applicable to swap dealers and major swap participants.
A group of fourteen trade associations urged the European Commission to grant an extension for the temporary equivalence for UK central counterparties until certain regulatory implementations have been made under EMIR 2.2 and until the European Securities and Markets Authority.
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.
At a CFTC Global Markets Advisory Committee meeting, Commissioners considered (i) implementation of margin requirements for uncleared swaps and (ii) the treatment of central counterparties under EU proposed rules.
A CFTC supplemental rule proposal was published in the Federal Register which would permit low-risk derivatives clearing organizations that are exempt from registration to offer clearing to U.S. persons under certain circumstances.
CFTC Commissioner Dawn D. Stump outlined "common sense" fixes on position limits, swap execution facilities, the treatment of non-U.S. central counterparty clearing, a cross-border swaps rule and the implementation of initial margin for uncleared swaps.
The Council of the European Union updated a proposal to require systemically significant foreign central counterparties to adopt the EMIR and adhere to regulation by the European Securities and Markets Authority and the European Central Bank.