Regulatory Alerts2019-04-01 | 2019-06152Amendment to Comparability Determination for Japan: Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
The Commodity Futures Trading Commission amended its 2016 comparability determination for Japan to find that Japanese margin requirements for uncleared swaps are comparable in outcome to U.S. standards. This amendment specifically establishes comparability regarding the scope of entities subject to margin requirements and the treatment of inter-affiliate transactions. The changes become effective on April 1, 2019, allowing swap dealers and major swap participants to rely on substituted compliance for these specific aspects of Japanese regulation.
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