MFA Blog: EU to Delay Implementation Deadline for U.S. Clearinghouses

According to a recent report in Reuters, the European Union is likely to postpone the compliance deadline for U.S. clearinghouses until June 15, 2015.

According to the original story, the new deadline comes after ongoing negotiations between the CFTC and the European Union failed to reach an agreement reconciling swaps rules across international jurisdictions. An EU spokesperson is quoted as saying that the delay had been proposed officially and "would be adopted shortly."

Without the delay, the current compliance deadline is December 15, 2014.

See: MFA Blog. Related news: CFTC Commissioner Wetjen Discusses Trading Mandate, Cross-Border Issues (with Patel Comment) (November 18, 2014); CFTC Chair Massad Discusses Cross-Border Issues (with Patel Comment) (November 18, 2014); European Commission Adopts First "Equivalence" Decision for Central Counterparty Regulatory Regimes (with Lofchie Comment) (October 30, 2014); EU Commissioner Barnier Seeks U.S. Swaps Deal (with Lofchie Comment) (September 15, 2014); EU Commissioner Barnier to Accept Clearing Rules from Five Countries outside EU, but Not the United States (with Lofchie Comment) (June 30, 2014).