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.
Margin minutiae at issue in Jefferies v IDCG suit
Mire in margin minutiae
Sefs in stasis as final rules edge closer
Sefs in stasis
Block trade allocations: FCMs and CCPs prepare for new regime
Block around the clock
Q&A: Stefan Walter on Basel III, RWAs, 'anti-American' rules and CVA
“It’s good to have hard deadlines”
In defence of cross-product margining
In defence of cross-product margining
Dealers face up to OTC clearing's tech revolution
Clearing the way for IT
Risk USA: Tarp compensation restrictions are a "sideshow", says Feinberg
Former Tarp special master doubts limits will change compensation behaviour
CFTC analysis of Dodd-Frank costs 'non-existent', says Sommers
Costs and benefits of proposals were not properly studied, according to CFTC commissioner Jill Sommers - a failing that could expose its rules to legal challenges, lawyers warn
SEC appoints two trading and markets associate directors
The US Securities and Exchange Commission has named heads of regulation for derivatives policy, and clearance and settlement
CFTC will publish its own Volcker rule language, says Sommers
Supervisor will publish its own Volcker rule for consultation – although little progress has been made so far, says CFTC commissioner
ECB threatens to stop trading swaps with US counterparties
ECB invokes US legal amendment providing it with broad immunities and says it might stop using US dealers unless granted exemptions from Dodd-Frank Act rules
Isda: Inconsistency among regulators worrying
Dodd-Frank's extraterritoriality and supervisory focus on market structure reforms that will not deliver systemic risk reduction are concerns, says Isda chair Stephen O’Connor
Dealers see danger in CFTC's $50m clearing capital limit
CFTC says 38 FCMs would be able to act as OTC clearing members under $50 million capital limit - but dealers fear it will weaken CCPs, and call for tough membership rules to redress the balance
Emir should include exchange-traded derivatives, says Gensler
CFTC chairman says European regulators should expand scope of Emir to include all derivatives, rather than OTC only
Energy Risk Europe: energy trading firms' technology not ready for new rules
Many energy trading firms have yet to begin getting the technological infrastructure in place to comply with new EU and US financial market regulations, say panellists
US banks at a disadvantage in face of Volcker rule
Non-US banks will have an advantage over US counterparts when it comes to prop trading, according to one legal expert
SEC report reveals failings at top three rating agencies
A report released by the US SEC reveals S&P, Moody's and Fitch all still have significant failings in their operations
Margin models converge as CCPs battle for dealer support
Dealers say they won’t join clearing houses that are not robust – and have already blackballed one central counterparty. As a result, the initial margin methodologies employed by the big rates clearers have begun to converge. Matt Cameron reports
Sponsored statement: MarketAxess
Fixed income e-trading trends: The ripple effect of new financial markets regulation
CFTC and SEC facing legal anxiety over cost-benefit analyses
Cost-benefit paralysis
Profile: Credit Suisse's algo team on automating OTC markets
Automating OTC