Dodd-Frank Act
WHAT IS THIS? Properly known as the Dodd-Frank Wall Street Reform and Consumer Protection Act, this controversial US legislative package enacted a host of reforms agreed by the G20 nations in the aftermath of the financial crisis, including rules on the clearing, execution and reporting of standardised swaps. It also introduced the Volcker rule ban on proprietary trading by banks, and a new way of liquidating big institutions.
Japan delays cross-border rules amid US and European uncertainty
Equivalence and substituted compliance issues must be resolved quickly, or financial markets will be affected, says Kono at Japanese FSA
Swaps push-out: Banks hoping for Fed fix
Will Fed fix 716?
Swap dealers struggle with Isda protocol compliance
Failure to meet deadline for earlier protocol puts banks on the back foot for compliance with next round of rules
Energy Risk USA: Energy market participants struggle with reporting
Dodd-Frank rules on swap data reporting creating a headache for energy market participants
Europe should consult on Emir equivalency – SEC official
The EC and Esma should consult on the process for determining equivalency with Emir, says Eric Pan of the SEC
Energy Risk USA: O'Malia urges CFTC tech overhaul
CFTC must revamp its technological infrastructure to cope with a flood of swap trade data, says commissioner
Data fragmentation hampers oversight
The G-20 had hoped the reporting of OTC derivatives trades would give regulators an opportunity to spot the build-up of systemic risk. But domestic reporting requirements, a lack of standard data formats and local privacy laws are preventing supervisors…
Energy Risk USA: Dodd-Frank implementation 'maddening', says O’Malia
CFTC commissioner blasts “adhocracy” of last-minute exemptions to Dodd-Frank rules
Energy Risk USA: New CFTC position limits due in June, O'Malia says
CFTC will soon unveil revised rule on commodity position limits after a court rejected its previous effort, says O'Malia
Financial transaction tax will harm Europe’s banks in Asian derivatives markets
The draft form of the EU's proposed financial transactions tax is 'unworkable' for European firms operating in Asia
CFTC’s O’Malia: Sef rules could favour Europe
The CFTC has a lot on its plate, including Sef rules, dealing with the extraterritorial impact of its regulations, and working out how best to manage the huge amount of data coming its way
Banks eye July 12 exemptive order deadline
A CFTC exemptive order expires in July, meaning new regulations could capture a broader range of clients as US persons
FX prime brokers welcome CFTC relief
CFTC provides last-minute relief for FX prime brokers, having listened to arguments that the market could be seriously impeded by business conduct rules
Data shows OTC notionals shrank as clearing started in US
Notional neurosis
Isda AGM: ‘Overlapping and contradictory’ global regulation will hamper real economy
The cost of reducing systemic risk is too high for the real economy, says Isda deputy chief executive
Isda AGM: Closer international co-ordination needed, says MAS’s Ng
The potential for conflicting regulations could hamper cross-border trades, warns MAS official
US warns EU over financial transaction tax
The US will not allow the EU financial transaction tax to happen, according to the head of US Chamber of Commerce Thomas Donohue. Co-ordination between G-20 countries on financial regulation is needed
CFTC’s Gensler defends long arm of Dodd-Frank
CFTC chair says "it is critical" that US rules apply overseas, in article for Banque de France stability review
OTC derivatives supplement
Global consistency a pipe dream, as national regulators go their own way
Energy firms give mixed response to Dodd-Frank swap reporting delay
Dodd-Frank delay gets mixed response from energy firms
Ferc ruling raises hope of greater regulatory certainty
Ferc and turf
Law firm of the year: Morrison & Foerster
OR&R recognises a law firm that successfully guided clients through regulatory confusion and the interpretation of sometimes competing items of financial legislation
DME’s Oman oil contract flourishes from futurisation of swaps
Shift away from swaps trading and recent price reporting agency scandals helping Oman contract, says DME chief
EC to fight new US prudential rules for foreign banks, says EBF
EC "very concerned" about capital and liquidity proposals, says chief executive of the European Banking Federation