01/20/2011 05:02:00 PM EST
Sutherland Alert: CFTC Issues Two Additional Proposed Rules Under the Dodd-Frank Act at Its First Open Meeting of 2011 January 14, 2011
by Jamie Cain and Ann Battle
The Commodity Futures Trading Commission (CFTC) issued
two proposed rules under the Dodd-Frank Wall Street Reform and Consumer
Protection Act (Dodd-Frank Act) at its first open meeting of the new year on
Thursday, January 13, 2011. The first proposed rule addresses position limits
for certain commodity futures contracts and "economically equivalent
derivatives." This proposed rule is substantively the same as the proposed rule
on position limits that the CFTC considered but did not adopt at its last open
meeting on December 16, 2010. The second proposed rule addresses swap
documentation requirements for swap dealers and major swap participants and is
a continuation of a proposed rule on swap confirmation, portfolio
reconciliation and portfolio compression requirements for swap dealers and
major swap participants that the CFTC issued at its December 16, 2010, open
meeting.
The text of these proposed rules have not yet been published
in the Federal Register. This discussion is based on statements made at the
January 13, 2011, and December 16, 2010, open meetings and the Fact Sheets and
Q&As made available by the CFTC.
Please
click on the Attachment: link at the top of the post to view or download the
entire article
© 2011 Sutherland Asbill & Brennan LLP. All Rights Reserved.
This communication is for general informational purposes only and is not intended to constitute legal advice or a recommended
course of action in any given situation. This communication is not intended to be, and should not be, relied upon by the recipient in
making decisions of a legal nature with respect to the issues discussed herein. The recipient is encouraged to consult independent
counsel before making any decisions or taking any action concerning the matters in this communication. This communication does
not create an attorney-client relationship between Sutherland and the recipient.