Regulatory Alerts2020-09-14 | 2020-16489Cross-Border Application of the Registration Thresholds and Certain Requirements Applicable to Swap Dealers and Major Swap Participants
The Commodity Futures Trading Commission adopted a final rule establishing the cross-border application of registration thresholds and specific requirements for swap dealers and major swap participants. The rule implements a risk-based approach to determine when U.S. and non-U.S. entities must register or comply with regulations, while creating a formal process for comparability determinations and substituted compliance. Effective November 13, 2020, the regulation aims to enhance global regulatory harmonization and reduce market fragmentation by aligning U.S. oversight with international comity principles.
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