CFTC and SEC Release Joint Report to Congress on International Swap Regulation

On Tuesday January 31, 2012, the Commodity Futures Trading Commission (the "CFTC") and the Securities and Exchange Commission (the "SEC") delivered to Congress a report on international swap regulation, as required by Section 719(c) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act").  The provision requires the CFTC and SEC to report on how swaps are regulated in the United States, Asia, and Europe and to identify areas of regulation that are similar and other areas of regulation that could be harmonized.

Read the CFTC press release

Read the CFTC and SEC report

CFTC Issues New Regulation on Cleared Swaps Customer Contracts and Collateral

On Tuesday, February 7, 2012, the CFTC adopted final regulations to implement new statutory provisions enacted by Title VII of the Dodd-Frank Act.  These regulations impose requirements on futures commission merchants and derivatives clearing organizations regarding the treatment of cleared swaps customer contracts and related collateral, and make conforming amendments to bankruptcy provisions applicable to commodity brokers under the Commodity Exchange Act.

© 2012 Perkins Coie LLP