DerivAlert Commentary

Recap: CFTC’s Open Meeting on Scheduling Implementation of Derivatives Reform

Posted by DerivAlert .org on Tue, Sep 13, 2011 @ 09:16 AM

The CFTC held an open meeting held on September 8th to propose a rough timeline of rules for implementation of derivatives reform over the next six months. As regulators seek to continue moving forward to meet the goals of Dodd-Frank, Chairman Gensler announced that the commission would delay votes on some of the final rules for the $600 trillion swaps market until the first quarter of 2012. This is the second time that the US futures regulators have delayed final rulemaking. 

In his opening remarks, Gensler said the agency would be focused on considering all the proposed rules thoroughly before rushing to any decisions.  While this initial meeting focused on timing of the new rules, additional delays could be on the horizon as the commission left itself discretion over the need for more time to finalize and implement regulatory reform. Other considerations were also left on the table, including input from other regulators both here and abroad.

CFTC has finalized 12 rules, but many of the highly anticipated regulations such as position limits, clearinghouse rules, and capital and margin requirements are left undetermined.

To recap the event DerivAlert has compiled links to all the statements of the commissioners, proposed rules and factsheets below:

The statements of the CFTC Commissioners:

Proposed Rules:

Additional Information:

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Topics: US Futures Regulators, Dodd-Frank, Commodity Futures Trading Commission, CFTC, futures, Chairman Gary Gensler, Dodd-Frank act, Derivatives, Gary Gensler