U.S. and European Union (EU) officials are nearing a deal to grant EU swap-trading platforms a reprieve from Dodd-Frank Act rules set to take effect next week, according to two people with knowledge of the negotiations.
The agreement would free trading platforms in the EU from U.S. rules for swap-execution facilities, or Sefs, at least temporarily, according to the people, who spoke on condition of anonymity because the talks are private. The negotiations between the Commodity Futures Trading Commission (CFTC) and European authorities are still under way and the agreement could change before Feb. 15, when the rules requiring the use of platforms take effect, the people said.
The international reach of CFTC rules has been among the most contentious issues between the Washington-based regulator and financial firms that operate around the world. Wall Street lobbying groups that represent banks including Goldman Sachs Group Inc. and JPMorgan Chase & Co. sued in December, seeking to limit the agency's ability to impose rules outside the U.S.
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.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
