Dodd-Frank.com

CFTC Proposes Long-Awaited Rule on Swap Dealer and Major Swap Participant Definitions

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Today, the CFTC approved, by a 3-2 vote (Commissioners Sommers and O’Malia dissenting), a long-awaited proposed rule defining the terms “swap dealer” and “major swap participant.” Both types of entities will face comprehensive regulation under the swap trading provisions of the Dodd-Frank bill, including registration, reporting, recordkeeping, business conduct, and... Read More

Topics: Banking, Derivatives, Energy, Insurance

CFTC Proposes Rule on Protection of Collateral of Counterparties to Uncleared Swaps

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The CFTC has issued a proposed rule concerning the rights of counterparties of swap dealers (“SDs”) and major swap participants (“MSPs”) with respect to the segregation of collateral supplied for margining, guaranteeing, or securing uncleared swaps. Under the proposed rule: – An SD or MSP must notify each counterparty at... Read More

Topics: Banking, Derivatives, Energy, Insurance, Uncategorized

CFTC to Propose Definitions of “Swap Dealer” and “Major Swap Participant” on Dec 1

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The Commodity Futures Trading Commission, or CFTC, will hold a public meeting on Wednesday, December 1, 2010, to consider the issuance of proposed rulemakings under the Dodd-Frank Wall Street Reform and Consumer Protection Act on the following topics: Further definition of “swap dealer,” “security-based swap dealer,” “major swap participant” and... Read More

Topics: Banking, Broker-Dealer, Derivatives, Energy, Insurance

CFTC Proposes Anti-Manipulation Rules

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The CFTC has published a Notice of Proposed Rulemaking (NOPR) with respect to its anti-manipulation authority over swaps, commodities, and futures markets under the Dodd-Frank Act. Two rules are proposed. The first implements the new section 6(c)(1) of the Commodity Exchange Act (CEA), patterned after section 10(b) of the Securities... Read More

Topics: Banking, Derivatives, Energy, Insurance, Uncategorized

CFTC Staff to Host Public Roundtable to Discuss Individual Customer Collateral Protection

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Staff of the Commodity Futures Trading Commission (CFTC) will hold a public roundtable on October 22, 2010, from 1:00 p.m. to 4:00 p.m., to discuss issues related to individual customer collateral protection. The roundtable will assist the CFTC in the rulemaking process to implement the Dodd-Frank Wall Street Reform and... Read More

Topics: Banking, Derivatives, Insurance, Public Companies and Securities

First Meeting of Financial Stability Oversight Council

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The Financial Stability Oversight Council (sometimes referred to as FSOC) convened its first “Official” meeting on October 1, 2010.  There’s no lack of political maneuvering behind the scenes.  Despite the congressional scuttlebutt, the Council appeared to have a focused, energized agenda.  It passed resolutions during its meeting concerning a variety of... Read More

Topics: Banking, Insurance, Private Equity

CFTC Chairman Also Gives Clues on Rules Timeline

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CFTC Chairman Gary Gensler appeared before the Senate Committee on Banking, Housing, and Urban Affairs today and shed some light on the Commission’s plans regarding the rulemakings to implement Dodd-Frank’s non-security swap trading provisions. According to the Chairman, the Commission plans to publish proposed rules in the fall, using weekly... Read More

Topics: Banking, Derivatives, Energy, Insurance