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.
CFTC will publish its own Volcker rule language, says Sommers
Supervisor will publish its own Volcker rule for consultation – although little progress has been made so far, says CFTC commissioner
ECB threatens to stop trading swaps with US counterparties
ECB invokes US legal amendment providing it with broad immunities and says it might stop using US dealers unless granted exemptions from Dodd-Frank Act rules
Isda: Inconsistency among regulators worrying
Dodd-Frank's extraterritoriality and supervisory focus on market structure reforms that will not deliver systemic risk reduction are concerns, says Isda chair Stephen O’Connor
Dealers see danger in CFTC's $50m clearing capital limit
CFTC says 38 FCMs would be able to act as OTC clearing members under $50 million capital limit - but dealers fear it will weaken CCPs, and call for tough membership rules to redress the balance
Emir should include exchange-traded derivatives, says Gensler
CFTC chairman says European regulators should expand scope of Emir to include all derivatives, rather than OTC only
Energy Risk Europe: energy trading firms' technology not ready for new rules
Many energy trading firms have yet to begin getting the technological infrastructure in place to comply with new EU and US financial market regulations, say panellists
US banks at a disadvantage in face of Volcker rule
Non-US banks will have an advantage over US counterparts when it comes to prop trading, according to one legal expert
SEC report reveals failings at top three rating agencies
A report released by the US SEC reveals S&P, Moody's and Fitch all still have significant failings in their operations
Margin models converge as CCPs battle for dealer support
Dealers say they won’t join clearing houses that are not robust – and have already blackballed one central counterparty. As a result, the initial margin methodologies employed by the big rates clearers have begun to converge. Matt Cameron reports
Sponsored statement: MarketAxess
Fixed income e-trading trends: The ripple effect of new financial markets regulation
CFTC and SEC facing legal anxiety over cost-benefit analyses
Cost-benefit paralysis
Profile: Credit Suisse's algo team on automating OTC markets
Automating OTC
Energy Risk Asia: Dodd-Frank could hit Asian energy firms hard
Panellists at the Energy Risk Asia conference voice concerns over the extraterritorial implications of the Dodd-Frank Act
SEC could sue Standard & Poor's over faulty CDO rating
The SEC may charge Standard & Poor's with breaking federal security laws in its rating of a 2007 CDO.
Pimco said to be behind OTC clearing spike at CME
Interest rate swap clearing volumes at CME leapt 2,172% between August and September, and dealers say one firm is responsible for the surge
Video: BBA gives first, exclusive views on the ICB report
In an exclusive interview, the BBA discusses whether the ICB should have looked more closely at other separation models for its final report on financial stability in the UK
Rule could make OTC-cleared energy contracts 'endangered species': O’Malia
CFTC commissioner renews support for over-the-counter energy clearing tool in the face of new Dodd-Frank rules that could affect operation
Prop trading ban set to crimp market-making and hedging activities
Putting a stop to prop
Dealers move to secure derivatives clearing gateways in Asia
Courting counterparties
Shell Energy chief calls for regulatory data confidentiality rules
The confidentiality of energy trading data provided to regulators for market monitoring purposes continues to concern market players and regulators alike, after August leak by senator Sanders
The product no-one wants to sell: portability held up by lack of rules
Under-the-counter derivatives
CFTC 'needs to do better job' of weighing Dodd-Frank costs, says O’Malia
CFTC commissioner says agency received a wake-up call when one SEC rule was booted out by the US appeals court
Give-up agreement can survive CFTC attack, Isda event told
Despite a CFTC proposal that attacks an industry clearing document, the core of the text can survive, says lawyer at Isda's New York conference