Revisions to CFTC Cross Border Guidance Discussed by Global Regulators at GMAC Meeting

By Doron Ezickson and Adam Topping

The U.S. Commodity Futures Trading Commission (CFTC) is considering revised staff proposals relating to the definition of “U.S. Person”, the availability of “substituted compliance” and the cross border aggregation of swaps, each modifying the initial proposed cross-border guidance dated June 29, 2012. At the meeting of the Global Markets Advisory Committee (GMAC) in Washington, DC on November 7, 2012, Commissioner Gensler announced his intent to issue the revised guidance before year end. However, the revised guidance is subject to further review by the CFTC Commissioners and, as their views on these issues do not appear to be in unison, the final form of the guidance and the timing of its issuance remains uncertain.  read more

This entry was posted in CFTC, Commodity Trading, Dodd-Frank, Regulation. Bookmark the permalink.

Comments are closed.