Financial Services Spotlight

June 2016 Second Half Developments

Posted by Roy Andersen on Jul 6, 2016 12:00:00 PM

Overview

The CFTC published a proposed rule on clearing interest rate swaps and identified a number of new swaps that would be required to be cleared.   In addition, the CFTC tightened the recordkeeping and reporting of certain swap transactions and the SEC finalized a rule requiring trade acknowledgements.  The FDIC published two rules on the treatment of failed banks with assets related to securitizations and its own requirements to maintain records of how it manages receiverships.

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Topics: North Korea, CFTC, Security-Based Swaps, Regulation Z, Interest Rate Swaps, Western Balkans

About the Spotlight


The Financial Services Spotlight examines the regulatory and technology developments impacting banks, asset managers and other financial services providers—where challenges meet opportunities.

 

Meet the Authors


Roy C. Andersen, of counsel in Sullivan & Worcester's New York office, is a member of the Corporate Department. Mr. Andersen focuses on bank regulatory and compliance matters, including international banks and their branches and agencies in New York.

Joel Telpner, partner in the firm's New York office, is a seasoned advisor, strategist and problem solver. Mr. Telpner brings more than 30 years of legal experience in a career that includes time as an AmLaw 100 partner, the former U.S. general counsel of a global financial institution, and a venture capitalist. He is recognized for his ability to deftly manage complex financial transactions, especially those involving sophisticated structured finance and derivatives matters and has an extensive and unique combination of transactional and regulatory experience.

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