Dodd-Frank Act
WHAT IS THIS? Properly known as the Dodd-Frank Wall Street Reform and Consumer Protection Act, this controversial US legislative package enacted a host of reforms agreed by the G20 nations in the aftermath of the financial crisis, including rules on the clearing, execution and reporting of standardised swaps. It also introduced the Volcker rule ban on proprietary trading by banks, and a new way of liquidating big institutions.
Industry welcomes footnote 513 no-action extension
Industry sources have welcomed CFTC decision to extend no-action relief for its non-US swap dealer requirements and to consult on definitions
FI trading revenues expected to slide further – Risk.net poll
Fixed-income trading revenues will continue to fall in 2014, believe respondents to a Risk.net poll
SEC whistleblower retaliation protection ambiguous, lawyer warns
Protection for whistleblowers not clear cut
Australia to receive go-ahead for CFTC substituted compliance
Australian market will broadly be able to follow domestic rules to comply with Dodd-Frank
Senator Crapo urges Dodd-Frank tweaks and CFTC-SEC merger
United Senate?
VAB’s Winter: Collateral rules risk derivatives and liquidity
Regulating collateral
Congress could make Dodd-Frank changes in 2014, says Crapo
Democrats and Republicans finding common ground on issues including swaps push-out, says senator
Sefs battle with confirmations after CFTC relief expiry
A second no-action relief period that exempted Sefs from issuing confirmations expired on November 29, leaving forex traders unsure whether Sefs can handle the requirement
Footnote 513 exceeds CFTC's statutory brief: O'Malia
Failure to define a "significant or direct" threat to the US economy has brought regulatory overreach
More firms expect technology spending increase in 2014
Rising expectations
Review of 2013: Grave new world
From collapsing equity repo rates to footnote 88, and from the leverage ratio to new clearing house liquidity rules, the year has been full of surprises, many of them unpleasant. By the end of 2013, an industry that had seemed to be back on its feet was…
Risk technology rankings 2013: Regulatory revamps
Adapt and comply
Exemptions in the balance as Volcker debate draws to a close
Two years on from its first draft, the Volcker rule is close to being finalised, but some regulators are still trying to close what they see as loopholes – and dealers see as vital freedoms
Asian dealers 'disappointed' by CFTC clarification of footnote 513
CFTC makes clear swaps between non-US swap dealers and non-US clients will be caught by Dodd-Frank if they are arranged, negotiated or executed by US personnel
Revived Dodd-Frank position limits worry energy firms
The US Commodity Futures Trading Commission is gearing up for another big fight over position limits, after its original rule was rejected by a federal court. The agency’s latest proposal, released in November, gives market participants little reason for…
A promising future
Sponsored statement: NYSE Liffe
Bill Clinton says failure to reform OTC markets earlier was a "real mistake"
Speaking at Sifma AGM, former US president says OTC market should have been forced into collateralised regime before 2008 crisis
Sefs face major delays in operating outside the US
Despite an overseas person exemption that allows recognition of CFTC-approved swap execution facilities in the UK, Sefs could face significant delays before they can legally operate in other non-US jurisdictions
End-users push back on termination rights delay
Derivatives end-users are pushing back on regulator demands to include temporary stays on termination rights linked to bank resolutions
Tradition's Mike Anderson cheerful despite headwinds for energy brokers
Regulatory change and tough market conditions are creating deep uncertainty for energy brokers. But Tradition’s Mike Anderson remains optimistic about the business, he tells Stella Farrington
Experts split on MAT determinations
Rules allowing Sefs to make available-to-trade determinations continue to cause concern, but some think an aggressive approach is justified
Single-stock futures alternative to section 871(m) withholding
Single stocks the future?
CFTC proposes 'unassailable' position limits rule
CFTC puts forward another Dodd-Frank position limits rule, generating concerns among commodity derivatives end-users