The CFTC proposed rule amendments that would codify its process for terminating exemptive relief granted to foreign firms offering futures and options to U.S. customers.
The SEC staff granted no-action relief to an Indian issuer, allowing it to conduct a partial tender offer in the United States in accordance with the requirements of Indian law.
The SEC staff provided no-action relief to a Canadian company, allowing it to conduct a tender offer in the United States in accordance with the requirements of Canadian law and exemptions granted from those requirements.
CFTC Commissioner Dawn D. Stump outlined "common sense" fixes on position limits, swap execution facilities, the treatment of non-U.S. central counterparty clearing, a cross-border swaps rule and the implementation of initial margin for uncleared swaps.
Cadwalader attorneys analyzed recently adopted amendments to European counterparties trading derivatives obligations under the European Market Infrastructure Regulation.
CFTC Chair J. Christopher Giancarlo outlined several principles that guide effective cross-border regulation and provided an update on the status of CFTC cross-border rulemaking.
SEC-proposed amendments and interpretive guidance to certain rules governing security-based swap activity in a cross-border context were published in the Federal Register.
The CFTC and the SEC signed the IOSCO "Enhanced Multilateral Memorandum of Understanding." The agencies agreed to new forms of cooperation to enhance effective enforcement.
