SEC Chair Gary Gensler and CFTC Chair Rostin Behnam highlighted U.S. regulatory initiatives in "new era" for derivatives.
News & Insights
The CFTC Division of Swap Dealer and Intermediary Oversight and Division of Market Oversight issued no-action relief for swaps margin and reporting requirements related to the sale of EU-listed warrants.
The NFA adopted amendments to its Compliance Rules and Interpretive Notices to cover transactions and counterparties involving swaps.
The National Futures Association ("NFA") proposed amendments to NFA Compliance Rules and Interpretive Notices to cover transactions and counterparties involving swaps. The NFA stated that the amendments to the NFA Rules are designed to (i) incorporate references to swaps and counterparties, as well as other related concepts, (ii) clarify that certain rules apply to all commodity interests, defined as means futures, forex and/or swaps, and (iii) clarify that other rules only apply to certain membership categories. Specifically, the NFA proposed amending: NFA Compliance Rule 1-1 ("Definitions")
The CFTC settled charges that a bank and its energy subsidiary failed to comply with swap dealer requirements to submit accurate large trader reports for physical commodity swap positions.