In a 2018 Annual Report, the Financial Stability Oversight Council recommended that financial regulatory agencies take additional steps to ensure U.S. financial stability.
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The CFTC adopted amendments to uncleared swap margin requirements so as to comply with the "stay-related" rules applicable to "qualified financial contracts."
A former managing director of a bank agreed to pay $350,000 to settle CFTC charges for illegally "mismarking" swap valuations in an effort to hide significant trading losses. According to the CFTC Order, the former managing director mismarked the valuations of swap instruments in an attempt to cover up significant trading losses incurred by entering false "end-of-day" marks into an internal bank spreadsheet utilized for internal asset valuations. In connection with this action, the CFTC Division of Enforcement closed its investigation. The CFTC noted that its decision to terminate the
SIFMA, ISDA, FIA, and other industry trade associations and diverse banking organizations made recommendations on proposed changes to regulations implementing the "Volcker Rule."
ISDA updated its Model Netting Act, which provides a template for jurisdictions considering enforcing close-out netting.