Dodd-Frank.com

President Obama’s CFTC Budget Includes “User Fees” on Derivative Transactions–Commissioners Join the Fray

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CFTC Commissioners Scott O’Malia (R) and Bart Chilton (D) have joined the fray over President Obama’s recently released budget for fiscal year 2012 by releasing statements in recent days regarding the budget’s allocation for CFTC spending. The President’s budget requests $308 million for the CFTC (a 45 percent increase over... Read More

Topics: Banking, Derivatives, Energy, Insurance

What Directors and Public Companies Need to Know About the End-User Swap Exception

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The Dodd-Frank Act broadly requires that most swaps be cleared through a derivative clearing organization.  The Dodd-Frank Act also contains an elective exception, referred to as the “end-user exception,” from the clearing requirement if one party to the swap is not a financial entity, is using swaps to hedge or... Read More

Topics: Derivatives, Energy, Public Companies and Securities

CFTC Adopts Interim Final Rule Regarding Reporting of Post-Enactment Swap Transactions

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The CFTC has adopted an interim final rule that clarifies the reporting obligations of market participants with respect to swaps entered into on or after the date of enactment of the Dodd-Frank Act and prior to the effective date of swap data reporting rules implementing Section 2(h)(5)(B) of the Commodity... Read More

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

CFTC to Address End User Exception December 9

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The Commodity Futures Trading Commission, or CFTC, will hold a public meeting on Thursday, December 9, 2010, to consider the issuance of proposed rulemakings under the Dodd-Frank Wall Street Reform and Consumer Protection Act on the following topics: Core principles and other requirements for swap execution facilities; End-user exception to... Read More

Topics: Banking, Derivatives, Energy, Private Equity, Public Companies and Securities

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