Rececent International Regulatory Activity
On November 17, IOSCO released a draft consultation paper on CDS post trade transparency (comments due by February 15, 2015). On November 17, FSB Chair Mark Carney delivered a speech…
LSTA Files Legal Claims on Risk Retention
The LSTA has filed a lawsuit against the Fed and the SEC seeking relief for CLOs from the Final Risk Retention Rule. The LSTA writes: Since 2010, the LSTA and…
New Market Risk Advisory Committee
CFTC Commissioner Sharon Bowen Seeks Public Comment on Scope and Composition of New Market Risk Advisory Committee (“MRAC”) CFTC Commissioner Sharon Y. Bowen, Sponsor of the Commodity Futures Trading Commission’s…
Four Women CEOs Describe Women in Leadership Roles
Sunday's NYT published an article regarding women in leadership roles.
Recent Derivatives Hearings/Speeches
On November 21-22, the Senate Homeland Security Subcommittee will hold a hearing on physical commodities. On November 12, CFTC Chairman Massad delivered a speech in which he discussed Title VII…
FSB publishes Progress Report on Implementation of OTC Derivatives Market Reforms
The Financial Stability Board (FSB) published on November 7th its eighth progress report on implementation of OTC derivatives market reforms.
CFTC No-Action Relief for Inter-affiliate Clearing Requirements
The CFTC’s Divisions of Clearing and Risk (DCR) and Market Oversight (DMO) have extended previous relief provided in Letters 14-25 and 14-26 regarding certain inter-affiliate clearing requirements until December 31,…
ESMA Consultation Paper on Reviewing EMIR Reporting Technical Standards
On November 10, ESMA issued a consultation paper on “Review of the technical standards on reporting under Article 9 of EMIR”, which addresses shortcomings ESMA identified with the current regulatory…
CFTC Extends No-Action Relief for Certain Package Transactions
On November 10, the CFTC’s Division of Market Oversight (“DMO”) issued further time-limited no-action relief in the form of a revised phase-in compliance timeline and more flexible execution methods for…
CFTC Extends No-Action Relief on Certian Cross-Border Applications of Transaction-Level Requirements
The CFTC has extended relief to swap dealers registered with the CFTC that are established under the laws of jurisdictions other than the United States (Non-U.S. SDs) from certain transaction-level…