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Results: 1-10 of 28

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


House Financial Services Committee votes on OTC Derivatives Market Act
  • Alston & Bird LLP
  • USA
  • October 16 2009

Yesterday morning, the House Financial Services Committee voted, 43-27, to approve Chairman Barney Frank’s proposed Over-the-Counter Derivatives Market Act of 2009, as amended during the mark up session held Wednesday


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


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.”


U.S. Treasury delivers proposed legislation on OTC derivatives to Congress
  • Alston & Bird LLP
  • USA
  • August 12 2009

As the last piece of the Obama administration’s agenda for the reform of regulatory financial agencies, the U.S. Treasury Department delivered its proposed legislation, titled the “Over-the-Counter Derivatives Markets Act of 2009,” for the regulatory reform of the over-the-counter (OTC) derivatives market to Congress yesterday


Senate Subcommittee holds hearing on regulation of OTC derivatives market
  • Alston & Bird LLP
  • USA
  • June 24 2009

Yesterday, the Subcommittee on Securities, Investment and Insurance of the Senate Banking Committee held a two-panel hearing entitled the "Over-the-Counter Derivatives: Modernizing Oversight to Increase Transparency and Reduce Risks."


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


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


Congressman Peterson releases discussion draft of proposed legislation to regulate over-the-counter derivatives market
  • Alston & Bird LLP
  • USA
  • October 14 2009

Last Friday, Congressman Collin Peterson (D-MN), Chairman of the House Agriculture Committee, released a discussion draft of proposed legislation to strengthen the regulation 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