Financial Regulatory Forum

Energy companies moving forward with CFTC compliance despite uncertainties

By Guest Contributor
May 31, 2012

By Thomas A. Utzinger (U.S.)

NEW YORK, May 31 (Business Law Currents) – Electric utilities and natural gas companies are facing new regulatory uncertainties involving the jurisdictional reaches of two agencies overseeing futures and derivatives trading as well as wholesale energy transactions: the U.S. Commodity Futures Trading Commission (CFTC) and the Federal Energy Regulatory Commission (FERC). Recent rulemaking efforts and litigation have raised questions as to the overlap and division of powers of these two entities over certain financial transactions and enforcement actions of interest to the energy industry. (more…)

Swapping the rules: derivatives concern SEC, CFTC and the market (Westlaw Business)

By Guest Contributor
September 24, 2010
Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission, gestures as he testifies before the Financial Crisis Inquiry Commission hearing on the Role of Derivatives in the Financial Crisis on Capitol Hill in Washington July 1, 2010. REUTERS/Yuri Gripas (UNITED STATES - Tags: POLITICS BUSINESS)

Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission.

(Westlaw Business) - Swap markets and players were a main focus of Dodd-Frank, yet the SEC and CFTC were left to work out the details. The market, from Ropes & Gray to the Reinsurance Association of America, has provided these regulators with public comment and disclosure commentary. Now that the public comment period has drawn to a close, one thing is clear: issues from “security-based swap” to “swap participant” are certain to have big impact on a broad array of companies, both in financial services and beyond.

ANALYSIS-Even with new rules, life goes on for Wall Street

By Reuters Staff
June 27, 2010

By Steve Eder

NEW YORK, June 25 (Reuters) – U.S. lawmakers have hammered out a law that is designed to fundamentally change Wall Street, but financial professionals largely yawned.

FACTBOX-US swaps reforms proposed by Agriculture panel

By Reuters Staff
April 23, 2010

WASHINGTON, April 23 (Reuters) – The Senate Agriculture Committee has proposed tough rules for the previously unregulated $450 trillion derivatives market, including a requirement for banks to spin off their swaps trading desks.

Fannie, Freddie to clear interest rate swaps

March 12, 2010

   By Ann Saphir
   BOCA RATON, Fla., March 11 (Reuters) -   Fannie Mae and Freddie Mac, the mortgage-funding giants that were seized by the government in September 2008, will start using central counterparty clearing this year in a move that could mark a seismic shift in the $400 trillion global swaps market. (more…)

US’s Frank wants SEC/CFTC to decide on swaps clearing

By Reuters Staff
November 4, 2009

By Kim Dixon and Karen Brettell
WASHINGTON/NEW YORK, Nov 3 (Reuters) – U.S. regulators should be given authority to determine whether a privately traded derivative contract should be cleared through a central clearinghouse, the chairman of the House Financial Services Committee said on Tuesday.

US House panel approves new derivatives rules

By Reuters Staff
October 15, 2009

WASHINGTON, Oct 15 (Reuters) – New rules for the largely unpoliced, $450-trillion over-the-counter derivatives market were approved by a key U.S. congressional committee on Thursday in a win for the Obama administration.

U.S. firms that hedge risk win reprieve on derivatives rules

By Reuters Staff
October 7, 2009

By Charles Abbott and Rachelle Younglai
WASHINGTON, Oct 7 (Reuters) – Congress’ chief architect on financial regulation said on Wednesday companies that use derivatives to hedge their risk would not be forced to comply with all the new rules for the $450 trillion private swaps market.
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