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Results: 1-10 of 36

CFTC Issues Swap Dealer De Minimis Exception Preliminary Report
  • Orrick, Herrington & Sutcliffe LLP
  • USA
  • December 17 2015

On November 18, 2015, the Commodity Futures Trading Commission (“CFTC”) issued for public comment the Swap Dealer De Minimis Exception Preliminary


Status of Security-Based Swap Regulation and the Related Cross-Border Framework, an Overview
  • Orrick, Herrington & Sutcliffe LLP
  • USA
  • December 17 2015

Although the Commodity Futures Trading Commission (“CFTC”) has now implemented many of the requirements applicable to swaps under Title VII of the


Prudential Regulators Approve Final Uncleared Margin Rules
  • Orrick, Herrington & Sutcliffe LLP
  • USA
  • December 17 2015

In October, the prudential regulators (i.e., the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Board of


CFTC Proposes “Regulation AT” on Automated Trading
  • Orrick, Herrington & Sutcliffe LLP
  • USA
  • December 17 2015

On November 24, 2015, the Commodity Futures Trading Commission (“CFTC”) issued a notice of proposed rulemaking (the “Proposed Rule”) on the


Commentary: five lessons from the municipal derivatives litigation front
  • Orrick, Herrington & Sutcliffe LLP
  • USA
  • June 14 2013

Pre-financial crisis, interest rate derivatives were widely recognized as a valuable part of the municipal issuer's financial toolkit. Post-crisis


Dodd-Frank implementation update
  • Orrick, Herrington & Sutcliffe LLP
  • USA
  • September 28 2012

Title VII of the Dodd-Frank financial reform, titled the “Wall Street Transparency and Accountability Act of 2010” (the “Act”), was enacted on July 21, 2010


Greece triggers credit event and raises questions for sovereign CDS
  • Orrick, Herrington & Sutcliffe LLP
  • Global, Greece
  • May 4 2012

On March 9th, the ISDA Determinations Committee for Europe unanimously concluded that The Hellenic Republic (Greece) had triggered a restructuring “credit event” under credit default swap (“CDS”) contracts in connection with the exchange of its debt with private creditors


Investment management industry challenges CPO registration requirement
  • Orrick, Herrington & Sutcliffe LLP
  • USA
  • May 4 2012

On February 9th, the CFTC issued a final rule modifying its Rule 4.5 to require the advisers of an investment company registered under the Investment Company Act of 1940, such as a mutual fund or exchange-traded fund, to register as commodity pool operators if, generally, the fund invests a material amount of its assets in speculative commodity futures, options and swaps


Standardization of muni CDS
  • Orrick, Herrington & Sutcliffe LLP
  • USA
  • May 4 2012

On March 5th, ISDA published the 2012 ISDA U.S. Municipal Reference Entity Supplement to the 2003 ISDA Credit Derivatives Definitions (the “March 2012 Supplement”), which is intended to standardize credit default swaps referencing U.S. municipal issuers or obligations as the reference entity or reference obligation (“muni CDS”) with credit default swaps referencing corporate and sovereign CDS


City of Milan settles with banks in derivatives fraud case
  • Orrick, Herrington & Sutcliffe LLP
  • Italy
  • May 4 2012

The City of Milan, Italy, has reached a settlement relating to a dispute involving fees charged by four foreign banks relating to the sale of derivatives