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Results: 1-10 of 28

Financial Crisis Inquiry Commission holds first day of hearings on role of derivatives in financial crisis

  • Alston & Bird LLP
  • -
  • USA
  • -
  • June 30 2010

Today, the Financial Crisis Inquiry Commission (FCIC) held the first of two days of hearings related to the role of derivatives in the financial crisis, and specifically through the prism of two companies, American International Group (AIG) and Goldman Sachs

SEC permits Eurex Clearing AG and ICE Clear Europe Limited to operate as central counterparties for credit default swaps

  • Alston & Bird LLP
  • -
  • USA
  • -
  • July 23 2009

Today, the Securities and Exchange Commission (SEC) announced its approval of conditional temporary exemptions to allow Eurex Clearing AG (Eurex) and ICE Clear Europe Limited (ICE) to operate as central counterparties (CCPs) to clear credit default swaps (CDS

CFTC Chairman Gensler testifies on OTC derivatives markets

  • Alston & Bird LLP
  • -
  • USA
  • -
  • March 10 2010

Yesterday, Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler appeared before the Senate Committee on Energy and Natural Resources at a hearing regarding the regulation of over-the-counter derivatives, particularly with respect to the energy markets

Federal Reserve Bank of New York acknowledges publication of CDS central counterparty legal analysis by industry participants

  • Alston & Bird LLP
  • -
  • USA
  • -
  • July 14 2009

On July 13, the Federal Reserve Bank of New York (FRBNY) issued a press release to acknowledge the publication by a group of 8 dealers and 8 buy-side market participants of a "cross-jurisdictional analysis of legal and regulatory issues facing credit default swap central counterparties (CDS CCPs) with respect to customer access to central clearing platforms."

FINRA launches Interim Pilot Program on margin requirements for transactions in CDS

  • Alston & Bird LLP
  • -
  • USA
  • -
  • June 5 2009

Financial Industry Regulatory Authority, Inc. (FINRA) has established an Interim Pilot Program with respect to margin requirements for certain transactions in credit default swaps (CDSs

Senator Reed introduces Comprehensive Derivatives Regulation Act of 2009

  • Alston & Bird LLP
  • -
  • USA
  • -
  • September 23 2009

Yesterday, Senator Jack Reed (D-RI), Chairman of the Senate Banking Committee's Subcommittee on Securities, Insurance, and Investments, introduced the Comprehensive Derivatives Regulation Act of 2009 (CDRA), legislation intended to "establish a comprehensive regulatory framework to prevent derivatives trading activities from ever again contributing to catastrophic failures in our financial system."

House Financial Services Committee holds hearing on OTC derivatives market

  • Alston & Bird LLP
  • -
  • USA
  • -
  • October 8 2009

Yesterday, the House Financial Services Committee held a hearing entitled "Reform of the Over-the-Counter Derivative Market: Limiting Risk and Ensuring Fairness," to consider the effective regulation of the over-the-counter (OTC) derivatives market and reaction to the discussion draft of proposed legislation released late last week by Committee Chairman Barney Frank (D-MA

Market participants make further commitments on over-the-counter derivatives

  • Alston & Bird LLP
  • -
  • USA
  • -
  • March 2 2010

Yesterday, the International Swaps and Derivatives Association (ISDA) and industry market participants, including dealers and buy-side institutions, submitted a letter to the Federal Reserve Bank of New York (FRBNY) outlining new commitments to bring further transparency and standardization to the over-the-counter (OTC) derivates market, apply collateral management best practices and further utilize central clearing in the credit and interest rate derivatives markets

House Agriculture Committee approves Over-the-Counter Derivatives Markets Act

  • Alston & Bird LLP
  • -
  • USA
  • -
  • October 21 2009

After a mark-up session held today, the House Agriculture Committee approved by voice vote the Over-the-Counter Derivatives Markets Act of 2009, as amended, a version of which was approved last week by the House Financial Services Committee

U.S. Treasury announces proposed regulatory framework for OTC derivatives

  • Alston & Bird LLP
  • -
  • USA
  • -
  • May 13 2009

Today, the U.S. Treasury Department released a proposal, also submitted in a letter to Congressional leaders, which contemplates a comprehensive regulatory framework for all over-the-counter (OTC) derivatives, largely because “massive risks in derivatives markets have gone undetected by both regulators and market participants.”