SEC Proposes New Rules to Define Security-Based Swap Dealers, Participants

The Securities and Exchange Commission Dec. 3 unanimously agreed to propose new rules to define “security-based swap dealers” and “security-based swap participants,” part of rulemaking required under the reform legislation to…

Fed Proposes Rule Setting “Volcker Rule” Compliance Period of Two Years, Extensions

The Federal Reserve Board is seeking public comment on a Nov. 17 proposed rule that would give banks two years to comply with Volcker rule restrictions on proprietary trading once they…

CFTC Proposes Rules under Dodd-Frank Act to Govern Swaps

The Commodity Futures Trading Commission agreed Nov. 19 to propose rules under the Dodd-Frank Wall Street Reform and Consumer Protection Act regarding the establishment and duties of swap data repositories, the…

SEC Unanimously Adopts Direct Access Rule, Proposes New Antifraud Rule for Derivatives

The Securities and Exchange Commission Nov. 3 unanimously adopted a new rule that effectively bars broker-dealers from providing customers with…

Republican-Controlled House Expected to Shape Rulewriting Under Dodd-Frank

The full impact of the 2010 midterm elections is still being sorted out, but for financial services firms, what is clear is that the Republican-controlled House will be changing…

Private Equity Funds Accuse French Bank Unit of Fraudulently Selling Over $70 Million of Subprime Securities

A group of private equity funds Oct. 22 alleged in the New York Supreme Court that Credit Agricole Securities (USA) Inc. and its French fraudulently induced their purchase of more than $70.5 million of subprime…

Geithner, EU’s Barnier Pledge to Cooperate on Regulatory Reform, Agree on Trading Rules Deadline

Treasury Secretary Timothy Geithner and European Union Internal Market and Service Commissioner Michel Barnier reaffirmed their commitment Oct. 29 to cooperate on…

SEC Issues Rule Proposal on Use of Warranties, Representations in Asset-Backed Securities

The Securities and Exchange Commission, pursuant to recent financial reform legislation, Oct. 4 issued proposed…

SEC Proposes Rules to Mitigate Conflicts for Swap Participants; Adopts Interim Rule

The Securities and Exchange Commission Oct. 13 took its first step towards establishing a regulatory framework for the…

CFTC Staff Allows U.S. Clients Access to Turkish Index Futures

The Commodity Futures Trading Commission’s Office of General Counsel issued a no-action letter Aug. 17 permitting the offer and sale in the United States of the Turkish Derivatives Exchange’s futures…

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