Posted byElan Mendel
on Aug 20, 2013 in CFTC
President Barack Obama met with Wall St regulators on Monday, August 19th 2013 to discuss the progress made after the 2010 passing of the Dodd-Frank Act. According to The Wall Street Journal, Obama is urging key regulators to implement many sections of the Act in order to avoid any situation similar to the...
It was announced on Sunday that President Obama is planning to meet with key regulatory officials Today to discuss the advancement of Dodd-Frank. Representatives from the Treasury, the Consumer Financial Protection Bureau, the Federal Housing Finance Agency, the Commodity Futures Trading Commission, the...
Posted byElan Mendel
on Jul 11, 2013 in CFTC
, New Rules
, Swap Execution Facility
The tenuous issue of cross-border derivatives regulation between the United States and the European Union may be over soon, according to a press release from the CFTC today. Gary Gensler, Chairman of the Commodity Futures Trading Commission (CFTC), and European Commission representative Michel Berneir...
The European Commission has given regulators at the European Securities and Markets Authority more time to analyze United States and Japanese credit swaps. The original deadline for their analysis was June 15th, but ESMA has been given an extension until September 1st to formulate an opinion on third party...
Swaps clearing deadline nears, as close to 250 to 300 U.S. investment managers are required to begin clearing swaps transactions by June 10th. According to Reuters, asset managers have been slow to create accounts with clearing houses for OTC derivatives, ahead of the mandatory deadline. This has led to an...
Posted byFelix Shipkevich
on Apr 8, 2013 in CFTC
, New Rules
, U.K. FSA
A proposed financial EU transaction tax would damage the region’s economies, says ICAP, one of the world’s largest inter-bank brokers.
Reuters reports that the new rules would raise funding costs for governments and companies, and would necessitate financial activity to move outside of the tax...
CME Group Inc. has launched a clearing service for interest rate swaps in London. The news comes a week after U.S. regulators began implementing mandates for rate swap clearing at CME’s headquarters.
Reuters reports that the exchange operator’s London-based CME Clearing Europe won approval from...
The CFTC is facing threats of legal action from Bloomberg over the differences in the proposed treatment of swaps and swap-futures margins.
Bloomberg is preparing to launch a swap execution facility (SEF), or a trading venue that will offer trading in standardized swap instruments, which is regulated by the...
U.S. Securities and Exchange Commission (SEC) nominee Mary Jo White, intends to tell lawmakers that she will bring a “bold and unrelenting” enforcement program to the agency if she is confirmed by the U.S. Senate.
Reuters reports that Ms. White stated in a prepared testimony released ahead of her...
Lawyers for a number of the world’s biggest banks have asked a U.S. judge to throw out a collection of lawsuits accusing them of manipulating Libor, key interest rates, and cheating investors out of billions of dollars.
The banks involved in the lawsuit include Bank of America Corp, JPMorgan Chase...