Five Key Facts About the SEC’s and CFTC’s Cross-Border Regulatory Approaches (BNA Insights)

    16 December 2013

    In the last few months, U.S. financial regulators have taken significant steps towards implementation of regulations impacting over-the-counter derivatives markets and the scope of their jurisdiction for activity around the world. On May 1, 2013, the Securities and Exchange Commission (‘‘SEC’’) issued its proposed rules and interpretive guidance for parties to  cross-border security-based swap transactions (‘‘SEC Proposed Rule’’). On July 12, 2013, the Commodity Futures Trading Commission (‘‘CFTC’’) adopted its final interpretive guidance and policy statement regarding compliance with certain swap regulations (‘‘CFTC Final Guidance’’).