FINRA Extends Implementation of CDS Margin Requirements Again
FINRA proposed extending the implementation date of FINRA Rule 4240's interim pilot program with respect to margin requirements for certain transactions in credit default swaps ("CDSs") that are security-based swaps. The proposal was filed for immediate effectiveness and the program will be extended until July 18, 2017.
FINRA requested this additional extension "in light of the continuing development of the CDS business within the framework of the Dodd-Frank Act and pending the final implementation of new CFTC and SEC rules pursuant to Title VII of that legislation."