News & Analysis as of

Swap Dealers › Swaps

Swap Dealers are individuals or entities who "hold themselves out as dealers in swaps, make markets in swaps, regularly enter into swaps with counterparties as an ordinary course of business for its own... more +
Swap Dealers are individuals or entities who "hold themselves out as dealers in swaps, make markets in swaps, regularly enter into swaps with counterparties as an ordinary course of business for its own account, or engage in any activity causing the individual or entity to be come commonly known in the trade as a dealer or market maker of swaps." Swap Dealers are defined under the Commodity and Exchange Act and must register as such under the Commodity Futures Trading Commission's Final Rules.  less -
Patomak Global Partners

CFTC Eases SDR Error Notification Requirements With New No-Action Relief

Patomak Global Partners on

Reporting counterparties must correct any error in their SDR reporting “as soon as technologically practicable” and, “[i]n all cases, […] within seven business days” after its discovery. If they fail to do so, they must...more

Katten Muchin Rosenman LLP

Unpacking CFTC Letters 25-09 and 25-10

Katten Muchin Rosenman LLP on

Derivatives market participants continue to process the implications of two significant interpretive letters issued by the Commodity Futures Trading Commission (CFTC) staff earlier this year. Letter 25-09 effectively...more

Mayer Brown Free Writings + Perspectives

SEC Adopts Amendments Mandating Certain Exchange Act Filings and Submissions to be Made Electronically; Also Adopts Technical...

Mayer Brown Free Writings + Perspectives on

On December 16, 2024, the Securities and Exchange Commission (“SEC”) adopted amendments (the “Amendments”) requiring the electronic filing, submission, or posting of certain forms required under the Securities Exchange Act of...more

Katten Muchin Rosenman LLP

Expected CFTC Implementations Post-2024 Election: Key Considerations for Futures Commission Merchants

Katten Muchin Rosenman LLP on

The 2024 US elections may signal a shift in the policy orientation of other federal financial regulators, but at the Commodity Futures Trading Commission (CFTC or Commission), at least in the short-term, the most significant...more

Orrick, Herrington & Sutcliffe LLP

CFTC orders bank to pay $5M for swap reporting violations

Orrick, Herrington & Sutcliffe LLP on

On August 26, the CFTC issued an order against a bank for allegedly failing to correctly report millions of swap transactions to a registered swap data repository, in violation of a prior CFTC order, and for failing to...more

Katten Muchin Rosenman LLP

The CFTC's Updated Block and Cap Sizes for 2024

Katten Muchin Rosenman LLP on

The Division of Data (DOD) of the Commodity Futures Trading Commission (CFTC or the Commission) published updated post-initial appropriate minimum block sizes and post-initial cap sizes under Part 43 of the CFTC’s...more

Katten Muchin Rosenman LLP

The CFTC Adopts Amendments to Capital and Financial Reporting Requirements for Swap Dealers Largely Based on Prior Relief

Katten Muchin Rosenman LLP on

After adopting final rules in 2020, the Commodity Futures Trading Commission (CFTC) adopted amendments to the capital and financial reporting requirements for Swap Dealers (SDs), which were largely based on prior no-action...more

Cadwalader, Wickersham & Taft LLP

A Decade-Long Death of Footnote 195

Cadwalader, Wickersham & Taft LLP on

Sometimes a small footnote (which technically is not even a part of the official Federal rule) may have an outsize impact on the rule itself. In 2013, subsequent to the enactment of the Dodd Frank Act of 2010, the Commodity...more

BCLP

Driving Force - More fines, more admissions, more monitors: what is the future of CFTC enforcement?

BCLP on

In a recent speech given at New York University’s School of Law, the Commodity Futures Trading Commission’s (CFTC’s) Director of Enforcement, Ian McGinley, unveiled a new advisory concerning penalties, monitors and admissions...more

Latham & Watkins LLP

SEC Launches Regulation for Security-Based Swap Execution Facilities

Latham & Watkins LLP on

Regulation SE, the last of the Title VII Dodd-Frank rulemakings, will become effective on February 13, 2024. The Securities and Exchange Commission (SEC) has taken a significant step in enhancing the regulatory landscape...more

Katten Muchin Rosenman LLP

The CFTC Proposes Operational Resiliency Rules for FCMs, Swap Dealers and Major Swap Participants

Katten Muchin Rosenman LLP on

Adopted partially in response to a 2023 cyberattack on a widely-used, third-party service provider to several financial services firms, the Commodity Futures Trading Commission (CFTC) has proposed new requirements and...more

Goodwin

Agencies Issue Final Guidance on Third-Party Risk Management

Goodwin on

Agencies Issue Final Guidance on Third-Party Risk Management - On June 6, the Federal Reserve, FDIC, and OCC issued final joint guidance (the Guidance) pertaining to banking organizations’ risk management of third-party...more

Cadwalader, Wickersham & Taft LLP

CFTC Issues Advisory on Prime Brokerage Arrangements on SEFs and DCO Registration Requirements

Cadwalader, Wickersham & Taft LLP on

On May 17, the staff of Commodity Futures Trading Commission (“CFTC”) Division of Clearing and Risk (“DCR”) issued an advisory (“Advisory”) that encourages entities using prime brokerage (“PB”) arrangements that provide...more

Davis Wright Tremaine LLP

Swaps Enforcement Update: Business Conduct Standards for Swap Dealers and Major Swap Participants

Davis Wright Tremaine LLP on

While the initial swap dealer enforcement actions brought by the Commodity Futures Trading Commission (CFTC) focused on swap data reporting failures, recent enforcement efforts have focused on compliance with business conduct...more

Cadwalader, Wickersham & Taft LLP

Expanding Regulatory Reach over Intermediaries That May Constitute Regulated Exchanges

Cadwalader, Wickersham & Taft LLP on

In response to changes in business practices, regulations and laws eventually change, too.  During the past few years derivatives markets are witnessing this change as it applies to trading facilities as well as to entities...more

Goodwin

SEC to Enhance Its Regulation of Security-Based Swaps

Goodwin on

As we have previously discussed, the SEC’s Fall 2022 “Reg Flex” Agenda charts the agency’s planned rulemaking through Q1 2023. Among this ambitious and wide-reaching agenda are two important final rulemakings concerning the...more

WilmerHale

The Securities and Exchange Commission’s Implementation of Title VII of the Dodd-Frank Act: Reviewing the Status of Security-based...

WilmerHale on

Gary Gensler served as Chair of the Commodity Futures Trading Commission (“CFTC”)from May 26, 2009 to January 3, 2014. He presided over the CFTC during the period that followed the 2008 financial crisis and led the CFTC...more

WilmerHale

SEC Adopts Amendments to Electronic Recordkeeping Requirements for Broker-Dealers and Security-Based Swap Dealers

WilmerHale on

On October 12, 2022, the Securities and Exchange Commission (SEC or Commission) voted to adopt amendments to the electronic recordkeeping requirements for broker-dealers and security-based swap dealers contained in Rules...more

Eversheds Sutherland (US) LLP

Enforcement appears as messages disappear part II: Steep penalties imposed in personal messaging cases  

Eversheds Sutherland (US) LLP on

On September 27, 2022, 15 broker-dealers and one investment adviser agreed to pay more than $1.8 billion in total civil penalties to the US Securities and Exchange Commission (SEC), and, for those same companies or affiliates...more

Latham & Watkins LLP

CFTC Mandates Clearing for Interest Rate Swaps on IBOR Alternatives

Latham & Watkins LLP on

A new rule removes the requirement to clear IBOR-based swaps and extends mandatory clearing to swaps on IBOR alternatives. On August 12, 2022, the US Commodity Futures Trading Commission (CFTC) voted to amend its...more

Cadwalader, Wickersham & Taft LLP

CFTC Finalizes Rule Regarding LIBOR Transition Clearing Requirement Determination for Certain Interest Rate Swaps

Cadwalader, Wickersham & Taft LLP on

On August 12, the Commodity Futures Trading Commission (“CFTC”) issued a final rule amending its Regulation 50.4(a) clearing requirements for swaps. The latest in a series of rulemaking that is supportive of the...more

Cadwalader, Wickersham & Taft LLP

CFTC’s Swap Reporting Advisory

Cadwalader, Wickersham & Taft LLP on

Accurate and timely reporting of swap data is the cornerstone of swap regulation. The CFTC had promulgated its swap reporting rules in 2012, and were after 2012 among the first rules implementing the Dodd-Frank Act to...more

Eversheds Sutherland (US) LLP

Swap APs exempt from Branch Office Manager Series 30 Examination requirement effective January 3, 2022

Eversheds Sutherland (US) LLP on

On Monday, November 27, 2021, the National Futures Association (NFA) submitted to the CFTC proposed amendments to NFA Compliance Rule 2-7 to exclude associated persons (APs), designated as “swap” APs, from the Branch Office...more

Morgan Lewis

SEC Proposes Rules for Security-Based Swaps Prohibiting Fraud and Manipulation

Morgan Lewis on

The US Securities and Exchange Commission proposed new rules on December 15, 2021, with respect to security-based swaps that, if adopted as proposed, would prohibit fraud and manipulation, require reporting of large...more

Katten Muchin Rosenman LLP

Key Takeaways: CFTC's FY 2021 Swap Dealers Enforcement Actions

Katten Muchin Rosenman LLP on

In Fiscal Year 2021 (FY 2021), the Commodity Futures Trading Commission (CFTC) brought and settled five enforcement actions against swap dealers for alleged reporting, disclosures and supervision failures. Historically, the...more

275 Results
 / 
View per page
Page: of 11
Next »

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide