Linked below is an article entitled "Drums along the Potomac," which appears in the current edition of the Energy Metro Desk . This article discusses the turmoil surrounding CFTC Chairman Gensler's efforts to impose a CFTC-centric version of cross-border rules upon the global financial marketplace, Commissioner Wetjen's proposal to issue "interim final guidance" instead, and Commissioner O'Malia's analysis of the issue. The article summarizes four GOP House bills to amend various aspects of Dodd-Frank and comments on recent speculation concerning the identity of the Administration's choice for
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The CFTC has issued an Amended Order expanding, through mutual acceptance by international regulators, the list of Legal Entity identifiers ("LEIs"), as defined in CFTC Rule 45.6 ("Legal Entity Identifiers"), that can be used by registered entities and swap counterparties in complying with CFTC's swap data reporting regulations. The Amended Order Revises the CFTC order of July 23, 2012, which directed all registered entities and swap counterparties to use LEIs in swap recordkeeping and swap data reporting provided by the DTCC-SWIFT. The CFTC is participating in an international process to
The SEC announced the appointment of Timothy B. Henseler as the new Director of the agency's Office of Legislative and Intergovernmental Affairs. Mr. Henseler formerly served as the Deputy Director of the Office and has been its Acting Director since July 2012. See: SEC Press Release.
The SEC announced that Julie M. Riewe and Marshall S. Sprung have been named Co-Chiefs of the Division of Enforcement's Asset Management Unit. Ms. Riewe and Mr. Sprung have been serving as the deputy chiefs of the Asset Management Unit since May 2012. See: Full SEC Press Release.
The SEC has approved the FICC's application for permanent registration as a clearing agency pursuant to Sections 17A(b) ("Registration of Clearing Agencies") and 19(a)(1) ("Registration Procedures; Notice of Filing, Other Regulatory Agencies") of the Securities Exchange Act. The SEC concluded that the FICC's rules, policies and procedures meet the requirements for such registration. See: SEC Letter of Exemption Approval.