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Results: 1-10 of 28

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


Senior Supervisors Group releases report on management and settlement of credit default swaps
  • Alston & Bird LLP
  • USA
  • March 10 2009

Yesterday, the Senior Supervisors Group, which consists of the senior financial supervisors from the U.S., U.K., Canada, France, Germany, Japan and Switzerland, released a report entitled “Observations on Management of Recent Credit Default Swap Credit Events.”


SEC permits Chicago Mercantile Exchange to operate clearing entity for credit default swaps
  • Alston & Bird LLP
  • USA
  • March 18 2009

Late last week, the SEC announced its approval of conditional temporary exemptions to allow the Chicago Mercantile Exchange Inc. (CME) to operate as a central counterparty (CCP) to clear credit default swaps (CDS), based on a request for exemptive relief submitted by CME and Citadel Investment Group, L.L.C. (Citadel


Congressman Frank releases discussion draft of proposed legislation to regulate over-the-counter derivatives market
  • Alston & Bird LLP
  • USA
  • October 6 2009

On Friday, Congressman Barney Frank (D-MA), Chairman of the House Financial Services Committee, released a discussion draft of proposed legislation to strengthen the regulation of the over-the-counter (OTC) derivatives market


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


CFTC Chairman Gensler proposes regulatory framework for derivatives at Senate hearing
  • Alston & Bird LLP
  • USA
  • June 5 2009

On June 4, 2009, the Senate Agriculture Committee held a hearing entitled "Regulatory Reform and the Derivatives Markets," at which Chairman Gary Gensler of the Commodity Futures Trading Commission (CFTC) proposed a comprehensive regulatory framework to govern over-the-counter (OTC) derivatives dealers and OTC derivatives markets, regardless of what type of derivative is traded currently or in the future and whether the derivative is standardized or customized


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."


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


Senate Agriculture Committee holds hearing on OTC Derivatives Reform Addressing Systemic Risk
  • Alston & Bird LLP
  • USA
  • December 2 2009

Today, the Senate Agriculture Committee held a hearing entitled "OTC Derivatives Reform Addressing Systemic Risk," to discuss the Obama administration’s proposal and the various Congressional proposals for reform of the over-the-counter (OTC) derivatives market


FRBNY receives commitments from market participants to expand central clearing for OTC derivatives
  • Alston & Bird LLP
  • USA
  • September 9 2009

Yesterday, fifteen global over-the-counter (OTC) derivatives dealers submitted a letter to the Federal Reserve Bank of New York (FRBNY), affirming their commitment to increase their usage of central counterparties (CCPs) for clearing and setting initial target performance levels to achieve such commitments