Fri, May 6, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

New derivatives and CPO rule changes to impact fund managers

Wednesday, August 22, 2012

Bailey McCann, Opalesque New York:

The Commodities Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in the US have finalized new derivatives rules and issued new guidance on the types of exemptions available to commodity pool operators (CPOs). As Opalesque reported in July, both regulators issued definitions for the terms "swap" and "security-based swap." These rules have now been officially entered into the federal register and will trigger additional provisions outlined in the Dodd-Frank Act.

The definitions themselves are designed to establish the products that make up "mixed swaps," mixed swaps will be monitored and regulated by the commissions going forward. The new rules effective date will be October 12, 2012. The gap accounts for a window in which those effected by the new rules will be given time to comply.

According to a client alert from US-based law firm, Shulte, Roth & Zabel, the product definitions "implicate a range of commodity law requirements governed by statutes and regulations enforced by the CFTC because derivatives that are swaps are now included in the definition of "commodity interests" for purposes of the CEA."

Significantly, these definitions will also have implica......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n

  2. Opalesque Exclusive: Hedge fund talent, fees take a hit at the Milken Global Conference[more]

    Bailey McCann, Opalesque New York: It's been a rough year for hedge funds and now, even other managers are panning them. "Frankly, I’m blown away by the lack of talent," was Point 72 CEO Steven Cohen's assessment of trying to find candidates to hire in the investment business at a panel o

  3. Hedge funds fell in April as alternative UCITS surge in Europe[more]

    Komfie Manalo, Opalesque Asia: Hedge funds shed more in April with the Lyxor Hedge Fund Index down 0.9% during the month (-2.8% YTD), but there was some good news with alternative UCITS showing strong inflows in Europe. In its Weekly Briefing, Lyxo

  4. Global hedge funds recover in April on resurging energy commodities[more]

    Komfie Manalo, Opalesque Asia: Global hedge funds recovered in April with the HFRX Global Hedge Fund Index gaining +0.41% last month (-1.47% YTD), while the HFRX Market Directional Index gained +5.31% during the same

  5. AIG lost $349m in hedge fund portfolio in Q1[more]

    Komfie Manalo, Opalesque Asia: Large US insurance group AIG lost a net $183m for the first quarter 2016, year-on-year. The group blames the loss on the impact of market volatility on investments, as well as net realised capital losses and restructuring costs. Its hedge fund portfolio made a n