News & Insights

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December 20, 2010

Citing a letter from Senator Harkin, stating the that position limit requirement is "mandatory rather than 'permissive,' and has a specified deadline," CFTC Commissioner Bart Chilton declares that the "right" path for the Commission is to head "True North," and put in place the limits within the statutory deadline as Congress intended. Date December 16, 2010 Cross Reference (links require a Cabinet subscription) Dodd-Frank Act, Title VII, Sec. 737

December 21, 2010

Ryan McKee, a senior director focusing on derivatives regulation at the U.S. Chamber of Commerce, has been appointed as a professional staffer at the House of Representatives Committee on Agriculture under Frank Lucas (R., Okla.), the committee's incoming chairman. McKee was best known for defending corporations against harsh new financial regulations that could raise their costs of hedging. McKee begins her new post in early January. Her role will be to liaise with the CFTC. Date Dec. 20, 2010 Cross References (links require a Cabinet subscription) Dodd-Frank Act, Title VII

December 21, 2010

In accordance with Section 712(d)(1) of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 the CFTC and SEC, in consultation with the Board of Governors of the Federal Reserve System, are proposing rules and interpretative guidance under the Commodity Exchange Act and the Securities Exchange Act of 1934, to further define the terms "swap dealer," "security-based swap dealer," "major swap participant," "major security-based swap participant," and "eligible contract participant." Document Number75 Fed. Reg. 80174 DateDecember 21, 2010 Cross Reference (links

December 21, 2010

A revised proposal by the Commodity Futures Trading Commission for how private swaps can be traded will prevent dealers from losing billions of dollars in revenue, according to Moody's Investors Service analyst Alexander Yavorsky. The commission rewrote a prior attempt at the rule last week after Chairman Gary Gensler pulled the proposal from consideration at a Dec. 9 meeting. The original rule would have required dealers to provide executable prices to all market users of credit-default, interestrate and other swaps prior to any trade being done on an electronic system that mimics how futures

December 23, 2010

CFTC Dodd‑Frank Rulemaking The CFTC is proposing for comment new rules under Section 4s(h) of the CEA to implement provisions of Title VII of the Dodd-Frank Act relating generally to external business conduct standards for swap dealers and major swap participants. Document Number 75 Fed. Reg. 80638 Date December 22, 2010 Cross Reference (links require a Cabinet subscription) Dodd-Frank Act, Title VII, Sec. 731 New CEA Sec. 4s(h) 17 CFR Parts 23 and 155