The SEC adopted changes to the exemptions for certain clearing agencies and broker-dealer/futures commission merchants concerning the portfolio margining of swaps and security-based swaps that are cleared credit default swaps.
The CFTC Market Participants Division clarified certain requirements applicable to swap dealers using models to calculate certain aspects of the CFTC capital requirements.
The SEC proposed replacing an exemption for certain clearing agencies and dual registrant broker-dealers concerning the portfolio margining of swaps and security-based swaps that are cleared credit default swaps.
A futures commission merchant and four introducing brokers settled CFTC charges for failure to meet minimum net capital requirements.
The CFTC Division of Swap Dealer and Intermediary Oversight granted no-action relief to a futures commission merchant seeking to to add back to its net worth the amount of deferred tax liabilities "directly related" to intangible assets recognized for GAAP purposes as a result of a non-taxable business combination.