SEC Chair Gary Gensler and CFTC Chair Rostin Behnam highlighted U.S. regulatory initiatives in "new era" for derivatives.
News & Insights
In an open meeting, the CFTC approved three final rules: (i) one concerning position limits for derivatives, (ii) one extending the Phase VI compliance date of the margin requirements for uncleared swaps for swap dealers and major swap participants, and (iii) one exempting certain foreign intermediaries from the requirement to register as CPOs.
The House of Representatives passed the Commodity End-User Relief Act. Approved by a 239 to 182 vote, the Act would make several reforms and reauthorize the CFTC with an appropriation of $250,000,000 for fiscal years 2017 through 2021.
Risk Desk editor John Sodergreen predicted a rush to complete the CFTC capital requirements rule and Regulation Automated Trading proposals.
The Senate Agricultural Committee passed the Commodity End-User Relief Act, a bill that would reauthorize the CFTC through 2018 and amend certain provisions of the Dodd–Frank Act.