Search
 

Wall Street Has Two Months to Meet Overseas Policy

CFTC moves effective date to Jan. 14 for policy requiring Dodd-Frank compliance on swaps trades made by U.S.-based traders on behalf of overseas affiliates.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The top U.S. derivatives regulator gave Wall Street two months to abide by a new policy imposing Dodd-Frank Act rules on banks when they arrange trades domestically and then book them overseas.

The Commodity Futures Trading Commission (CFTC) postponed a Nov. 14 advisory that undermined a legal interpretation Wall Street had found buried in a footnote, number 513, in an earlier agency document. Banks relied on the footnote to keep swap deals off electronic platforms and away from the agency’s rules that were put in place in the wake of the 2008 financial crisis.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.