Regulatory Alerts2012-07-12 | 2012-16498Exemptive Order Regarding Compliance With Certain Swap Regulations
The Commodity Futures Trading Commission proposes temporary exemptive relief to allow non-U.S. swap dealers and major swap participants to delay compliance with certain entity-level requirements and comply with home jurisdiction rules for transaction-level requirements involving non-U.S. counterparties. The order also permits U.S. swap dealers and major swap participants to delay compliance with specific entity-level requirements until January 1, 2013, while maintaining immediate obligations for swap data reporting and recordkeeping. This proposed relief aims to facilitate an orderly transition to the Dodd-Frank Act regulatory framework and align with international standards for uncleared swaps.
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