CFTC issues a final, time-limited exemptive order and proposes further guidance regarding cross-border regulation of swaps *

USA - December 31 2012
On December 21, 2012, the US Commodity Futures Trading Commission ("CFTC") issued a release (the "Release") containing a final exemptive order (the…

Co-authors: Joshua Cohn, Curtis A. Doty , David R. Sahr, Donald S. Waack.

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CFTC’s January 1 business conduct and documentation deadline eased *

USA - December 18 2012
The Commodity Futures Trading Commission (the “Commission”) today adopted interim final rules that defer the dates by which swap dealers (“SDs”) and major swap participants (“MSPs”) are required to comply with many provisions of the Commission’s external business conduct rules and with certain internal business conduct rules that require agreements or the exchange of information with counterparties.

Co-authors: Chris Arnold, Joshua Cohn, Curtis A. Doty , David R. Sahr.

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US Secretary of the Treasury exempts FX swaps and forwards from certain requirements under the US Commodity Exchange Act *

USA - November 20 2012
On November 16, 2012, under specific authority granted under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the US Secretary of the Treasury (Secretary) issued the long-awaited final determination (Determination), which states that physically settled “foreign exchange swaps” (FX Swaps) and “foreign exchange forwards” (FX Forwards) are exempt from the definition of “swap” and not subject to many of the swap requirements under the Commodity Exchange Act (CEA).

Co-authors: Joshua Cohn, Elizabeth M. Knoblock, Curtis A. Doty , David R. Sahr, J. Paul Forrester.

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Sure, my project has swaps (in fact, my lenders required these hedges), but why does that make it a commodity pool and why am i now a commodity pool operator? *

USA - August 15 2012
Title VII of the Dodd-Frank Wall Street Accountability and Consumer Protection Act (the Dodd-Frank Act) is called the “Wall Street Transparency and Accountability Act of 2010” and covers “swaps.”

Co-authors: Rory M. Cohen, Elizabeth M. Knoblock, J. Paul Forrester.

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CFTC proposes phased compliance program for certain swaps *

USA - July 7 2012
On June 29, 2012, the US Commodity Futures Trading Commission (the CFTC) proposed interpretive guidance (the Proposed Guidance) regarding the crossborder application of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act)

Co-authors: Joshua Cohn, Brad A. Resnikoff, Curtis A. Doty , David R. Sahr, Donald S. Waack.

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