On January 12 2017 the House of Representatives passed HR 238, the Commodity End-User Relief Act – a bipartisan bill to re-authorise the Commodity Futures Trading Commission (CFTC). Although the bill largely mirrors previous legislation re-authorising the CFTC, it includes several regulatory reforms, including:

  • a provision regarding the regulation of cross-border swaps; and
  • a provision that would require the CFTC to vote in order to change the current de minimis swap dealer registration threshold of $8 billion.

For further information on this topic please contact Donna M Parisi, Geoffrey B Goldman or Azam H Aziz at Shearman & Sterling LLP by telephone (+1 212 848 4000) or email ([email protected], [email protected] or [email protected]). The Shearman & Sterling website can be accessed at www.shearman.com.