Sat, Aug 30, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Industry, regulators spar over swaps

Monday, May 05, 2014

Bailey McCann, Opalesque New York:

The Commodities Futures Trading Commission (CFTC) released new rules on Thursday aimed at regulating more of the swaps business. The rule is the latest in a complex and often confusing wave of regulation focused on swaps trades, separately both the industry and the regulators have pushed legal probes into how each side is handling the regulation.

In April, the SEC voted on a proposed rule that would impact record keeping for security-based swap dealers and major security-based swap market participants. The proposed rule would also establish additional recordkeeping requirements for broker-dealers to account for their security-based swap activities. That move highlights one of the problems with swaps rules, both the CFTC and the SEC are regulating these issues making things more complex and in some cases conflicting.

"The SEC’s proposed rules will require security-based swaps dealers to record and archive all communications related to swaps transactions including emails, instant messages and recordings of phone calls. Further, the SEC is proposing a requirement that all recorded and archived phone calls be preserved and accessible for three years. Compliance with these regulations will require swaps dealers to institute data and voice capture procedures across their trading desks that can record and analyze all of the communications related to swaps transactions in real-time. Swaps dealers should take advantage of the time betwee......................

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. Study shows what resonates with investors: 'Unwavering', 'passionate' beats 'committed', 'dedicated' and more surprises[more]

    Komfie Manalo, Opalesque Asia: A new study by Pershing Square, a unit of BNY Mellon company, showed that an effective value proposition strengthens audience connections and fosters growth, yet many advisors have had little objective guidance in formulating such statements until now. In the

  2. Comment – Why you should avoid the hottest hedge fund hands, Swedroe attacks Hussman over risk management, relative value strategy[more]

    Why you should avoid the hottest hedge fund hands FromCNBC/Yahoo.com: Investors who don't have money with Pershing Square Capital Management are likely salivating at the hedge fund's industry-leading 26 percent return from January through July. But investing with Bill Ackman and other to

  3. Hedge fund assets decline in July - eVestment[more]

    Bailey McCann, Opalesque New York: Total assets in hedge funds declined in July and dropped 0.49%, marking the industry's second monthly asset decline in 2014, according to the latest asset flows data from eVestment. Despite the asset decline, total industry AUM remained above the $3 trillion

  4. AIMA makes 'the case for hedge funds'[more]

    Bailey McCann, Opalesque New York: The Alternative Investment Management Association (AIMA), the global hedge fund industry body,

  5. Managed futures' global diversification is important in next phase of economic recovery[more]

    Komfie Manalo, Opalesque Asia: The global diversification provided by managed futures may prove to be extremely valuable as the markets enter the next phase of the economic recovery, said Campbell & Company, a pioneer in absolute return invest