Regulatory Alerts2026-05-14 | 2026-09693Order Granting Conditional Substituted Compliance for French Nonbank Swap Dealers Under EU IFR and IFD
The Commodity Futures Trading Commission issued an order granting conditional substituted compliance to Goldman Sachs Paris Inc. et Cie, a nonbank swap dealer domiciled in France. The order determines that compliance with the European Union's Investment Firms Regulation and Investment Firms Directive satisfies specific CFTC capital and financial reporting requirements for this entity. This determination allows the French-domiciled swap dealer to rely on EU prudential standards instead of directly adhering to corresponding CFTC rules under the Commodity Exchange Act.
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