EU’s Antitrust Probe Delayed Due to Banks’ Request for Business Secrets

According to Bloomberg, the EU’s antitrust probe will see delays now that the banks involved with the case have successfully fought for the ability to see the confidential information the Commission has gathered on the banks. The information is vital to fighting the antitrust complaint that was filed by...

CFTC Commissioner O’Malia pleased with SEF performance, but sees room for improvement

According to the Wall Street Journal, Commodity Futures Trading Commission’s Scott O’Malia seems content with how the swap execution facilities have been operating since they were instituted. As a means to make the derivative market more transparent due to its role in the financial crisis of 2008, the...

Swaps Trade Transitioning Smoothly, Despite Government Shut Down

With the exception of a few delays instituted within the past week, the deadline put in place by the Commodity Futures Trading Commission for swaps traders to comply with new regulations has come, and the transition is well underway. As of today, almost all swaps trades are being handled through Swap...

CFTC allows for a few delays in swap trade initiatives

According to Reuters, the Commodity Futures Trading Commission (CFTC), who has by and large refused to budge on its October 2nd deadline for SEF’s to implement its new rules, will allow for a delay in a few of its initiatives. In an effort to increase transparency and minimize the risk associated with the...

Gensler: CFTC Faces Challenges Implementing Volcker Rule

On Tuesday July 30th, Gary Gensler, Chairman of the Commodity Futures Trading Commission (CFTC), testified before US Senate Committee that one of the largest issues the CFTC will confront in the coming years is the implementation of the Volcker Rule, which will prohibit all banks from doing proprietary...

Fed Re-evaluating Commodities Control Ruling

The Federal Reserve announced that they will be reviewing their rulings regarding Banks trading commodities after receiving complaints. Since the Bank Holdings Act, which is over 50 years old, deposit holding banks have been disallowed from directly holding commodities. But in 2003, the Federal Reserve put...

Regulatory Adjustment to New CFTC Ruling on Cross-Border Swaps

The impacts of the Commodities Futures Trading Commission’s (CFTC) response to cross-border swaps are yet unknown. With a 75 day period of guidance in addition to the implementation of the final ruling, this unprecedented move by the CFTC may deeply impact the market. On Friday, July 12th, the CFTC...

CFTC and European Commission Reach Concordance on Derivatives

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...

Basel Committee May Rethink Regulatory Complexity

On Monday, the Basel Committee released a discussion paper dealing with the simplicity of the regulatory systems, leading some to take it as a sign that the committee may advocate simpler regulations in the future. In the paper, they discuss several current aspects of regulation such as risk sensitivity,...

Gensler Urges Fast Action on Cross-Border Derivatives

The U.S. Commodity Futures Trading Commission (CFTC) planned to have cross-border derivative guidance finished by July 12th, and on June 25th CFTC Chairman Gary Gensler assured Senators that this deadline would be kept, despite some opposition. Gary Gensler, Chairman of the CFTC, told members of the Senate...
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