NFA proposed (i) an interpretive notice to clarify swap dealer reporting requirements with respect to initial margin model performance and (ii) the imposition of a late fee of $1,000 per business day if filings, including those related to initial margin model performance, are late.
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The CFTC Market Participants Division issued clarifications as to the capital and financial reporting requirements imposed on swap dealers that use the "tangible net worth" method of calculating net capital.
ISDA recommended that regulators adopt the Common Risk Interchange Format and Common Domain Model to allow for the standardization and automation of financial reporting.
NFA adopted rules establishing minimum capital requirements for member swap dealers that are not prudentially regulated. The rules go into effect October 6, 2021.
NFA proposed rules establishing minimum capital requirements for member swap dealers and major swap participants that are not prudentially regulated.