Dodd-Frank and its impact on Asia
Dodd-Frank could potentially have significant extraterritorial impacts on Asia. Domestic firms as well as regional subsidiaries of foreign firms are looking for solutions to this still-evolving piece of legislation
In implementing Title VII of the Dodd-Frank Act, the US Commodity Futures Trading Commission (CFTC) gave some breathing space when in September it gave prospective swap dealers and major swap participants until December 31 to register as such.
It also released some pressure on firms’ compliance departments with the various no-action relief letters released in mid-October. But the CFTC has done little to clear up the confusion that has fogged Asia’s swaps markets since first publishing its
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