Hedge funds and asset managers will win partial relief from Dodd-Frank Act collateral requirements for credit-default swaps under a policy shift to be announced this week, according to two people briefed on the matter.
Dodd-Frank Act derivatives rules are failing to give regulators a full picture of the swaps market and wouldn’t help them detect a loss similar to JPMorgan Chase & Co.’s London Whale trades, according to Commodity Futures Trading Commission member Scott O’Malia.
The U.S. Commodity Futures Trading Commission is overreaching in its Dodd-Frank Act rulemaking, undermining efforts to provide certainty to the swaps market, according to Scott O’Malia, a Republican commissioner.
A proposal to divvy up margin payments of individual swaps users at clearinghouses rather than allowing accounts to be treated as one pool by banks representing multiple customers may make guaranteeing trades too expensive, a U.S. commodity regulator said today.
The U.S. Commodity Futures Trading Commission is fixating childishly over Dodd-Frank Act rules while ignoring its traditional responsibility for overseeing futures markets, Commissioner Scott O’Malia said today.
The U.S. Commodity Futures Trading Commission, probing a shortfall of $200 million in client funds at Peregrine Financial Group Inc., must take immediate steps to safeguard customer funds, a Republican commissioner said today.
Bank-to-bank trading in private derivatives will have to be done on systems available to all market users, opening a previously closed arrangement to competition, said Commodity Futures Trading Commissioner Scott O’Malia .