Regulatory Alerts2022-12-13 | 2022-26758Added · Updated
Notice of Proposed Order and Request for Comment on Capital Comparability Determination for Nonbank Swap Dealers Regulated by Mexico
The Commodity Futures Trading Commission solicits public comment on a joint application by Morgan Stanley Mexico, Goldman Sachs Mexico, and Casa de Bolsa Finamex seeking a determination that Mexican capital and financial reporting laws are comparable to CFTC requirements for nonbank swap dealers. The Commission also requests feedback on a proposed order that would conditionally allow these Mexican-organized entities to satisfy specific CFTC capital and financial reporting obligations through substituted compliance with their home country regulations. This action aims to establish a framework where compliance with Mexican Banking and Securities Commission rules serves as an equivalent basis for meeting U.S. regulatory standards under the Commodity Exchange Act.
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