Dodd-Frank.com

CFTC Issues Proposed Rules on Reporting, Recordkeeping, and Daily Trading Records Requirements for Swap Dealers and Major Swap Participants

By

Section 731 of the Dodd-Frank Act amends the Commodity Exchange Act, or CEA, by inserting Sections 4s(f) and 4s(g), which establish reporting, recordkeeping, and daily trading records requirements for swap dealers and major swap participants.  Section 4s(f)(1) requires swap dealers and major swap participants to “make such reports as are... Read More

Topics: Banking, Derivatives, Energy

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

By

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

By

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 Publishes Whistleblower Proposal—Double Jeopardy for SEC Registrants?

By

The CFTC has published its proposed whistleblower rules.  In a keynote address to the Practising Law Institute’s Securities Regulation Institute on November 11, 2010, CFTC Chair Gary Gensler stated the CFTC rules were intended to be the same as the recently announced SEC whistleblower proposal, except where the Dodd-Frank Act... Read More

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

CFTC to Consider Real-Time Public Reporting of Swap Transaction Data Nov. 19

By

The Commodity Futures Trading Commission, or CFTC, will hold a public meeting on Friday, November 19, 2010, to consider the issuance of proposed rulemakings under the Dodd-Frank Wall Street Reform and Consumer Protection Act on the following topics:  Swap data repositories; Real-time public reporting of swap transaction data; Protection of... Read More

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

Public Companies Will Need Special Board Approval to Enter Into Non-Cleared Swaps

By

Title VII of the Dodd-Frank Act broadly requires many swap transactions to be subject to exchange trading and clearing requirements.  However, many end-users of swaps that use derivatives for legitimate hedging purposes are in many cases not subject to the clearing and exchange trading requirements.  It is anticipated most end-users... Read More

Topics: Energy, Public Companies and Securities