Testimony Before the U.S. Senate Committee on Banking, Housing and Urban Affairs July 21, 2011 The CFTC chairman testifies on the financial crisis, the role of derivatives markets in contributing to that crisis, the virtues of the Dodd-Frank Act, and the CFTC's implementation of the Act. Cross References Dodd-Frank Act, Title VII
News & Insights
SEC Release No. 34-64913 July 19, 2011 The SEC adopted technical amendments to its rules relating to the process by which firms may request exemptive relief under Section 36 of the Exchange Act.The amendments update certain website references and eliminate certain formatting requirements. Cross References Exchange Act § 36
Remarks Before the Financial Stability Oversight Council July 18, 2011 The final rulemaking adopts a definition of the term agricultural commodity, CFTC Chairman Gensler expresses support for the final rulemaking on the Authority to Designate Financial Market Utilities as Systemically Important. This is a significant rulemaking that will enable the Financial Stability Oversight Council. Cross References Dodd-Frank Act, Title I
Open Meeting on Four Final Rule Proposals and One Proposed Rule under the Dodd-Frank Act CFTC Press Release 6070-11 July 19, 2011 Additional Documents Fact Sheet: Proposed Rule on Customer Clearing Documentation and Timing of Acceptance for Clearing Q&A: Proposed Rule on Customer Clearing Documentation and Timing of Acceptance for Clearing Fact Sheet: Proposed Rule on Clearing Member Risk Management Q&A: Proposed Rule on Clearing Member Risk Management Fact Sheet: Part 40 Final Rulemaking Q&A: Part 40 Final Rulemaking Fact Sheet: Process for Review of Swaps for Mandatory Clearing Q&A: Process
Concurrence Statement on the Order Regarding the Effective Date for Swap Regulation July 14, 2011 CFTC Commissioner O'Malia expresses disappointment with the lack of harmonization between the CFTC's order and the exemptive relief that the S.E.C. provided, and with the final order ignoring a number of comments from market participants asking for an implantation plan. He urges to put forward an implementation plan for public comment during the month of August. Cross References Dodd-Frank Act, Title VII, Sec. 754