Günlük arşiv Eylül 9, 2020

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CFTC APPROVES PROPOSED AND FINAL RULES ON CLEARING, MARGIN AND CUSTOMER PRIVACY

CFTC APPROVES PROPOSED AND FINAL RULES ON CLEARING, MARGIN AND CUSTOMER PRIVACY

Introduction

The CFTC has posted the next final and proposed rules codifying formerly granted no action relief and consumer that is restoring privacy policies and procedures:

  • Amendments into the Part 23 Margin Requirements for Uncleared Swaps codifying no action page relief which included the stability that is european (ESM) to your directory of entities excluded through the concept of economic person, and so CFTC margin demands; 1
  • Amendments to your right part 160 customer Financial Suggestions Privacy Regulation, correcting a Commission legislation by restoring text which was accidentally eliminated in a 2011 amendment to incorporate SDs and MSPs to your set of entities susceptible to component 160.30 needing entities to consider procedures to guard consumer documents and information; 2 and
  • Proposed amendments to role 50 Clearing needs to codify current exemptions through the clearing requirement in section 2(h)(1) associated with Commodity Exchange Act (CEA) for swaps joined into by specific main banking institutions, sovereign entities and worldwide banking institutions (IFIs). 3

Last Rule: Amendments to role 23 Margin needs for the Stability that is european procedure

Background

In January 2016, the CFTC adopted the “CFTC Margin Rule” 4 to implement area 4s(e) regarding the CEA, which calls for swap dealers (SDs) and swap that is major (MSPs) that don’t have prudential regulator to meet up with minimum initial and variation margin demands. Devamını oku