Two-Minute Warning: CFTC Announces New Rule

The CFTC will set a two-minute time limit for swap dealers to accept or reject trades. The new time limit goes into effect on Oct. 1.

Then, 90 days after the rules are published, the limit will be tightened to one minute.

The new rule comes from an email sent by Ananda Radhakrishnan, CFTC’s director of the division of clearing and risk. Radhakrishnan’s letter asked clearinghouse owners, for example CME Group and Intercontinental Exchange Inc., to inform their bank clearing members of the new rule.

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Stay On Top Of The Debt Relief Industry's Regulatory Landscape

On November 6-7, 2022, Shipkevich PLLC will be hosting a Regulatory Workshop in Costa Mesa, California focusing on the fundamental regulatory issues facing debt relief professionals and how they can adapt.