On July 6th, the CFTC reopened comment on its proposed rule that would establish initial and variation margin requirements for uncleared swaps. The Basel Committee on Banking Supervision and the International Organization of Securities Commissions ("IOSCO") have also released a consultative paper on this topic and the CFTC wants to give interested parties an opportunity to comment on its proposed margin rule in light of the consultative paper. Comments on the CFTC's proposed rule should be submitted on or before September 14, 2012. CFTC Release; CFTC Press Release. Comments on the Basel Committee and IOSCO proposal should be submitted on or before September 28, 2012. Joint Press Release.
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Comment period is reopened for proposed uncleared swaps margin requirements
- Winston & Strawn LLP
- Global, USA
- July 16 2012
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