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Regulation

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  • Futures firms and swaps market participants may be on the hook for big bucks to buy systems that record nearly all phone conversations their employees make, including those via cellphones, if a Commodity Futures Trading Commission plan takes effect.
  • The cost for entering derivatives with an Australian counterparty may go up if local regulators don’t further clarify close out netting legislation and bring it on par with English and American law, according to a recently submitted comment letter from the the International Swaps and Derivatives Association.
  • The Securities and Exchange Commission has extended no-action relief allowing several Commodity Futures Trading Commission-registered derivatives clearing organizations to clear swaps for U.S. mutual fund firms.
  • Plans by the Taiwan Financial Securities Commission to create a trade repository with daily reporting requirements across all assets of over-the-counter derivatives, as well as information including the names of the traders and brokers who worked on the deal, will be prohibitively expensive for the market and unworkable, market players have warned.
  • The Securities and Exchange Commission is working on updated guidance on how the Investment Company Act applies to derivatives.
  • Agency residential mortgage-backed securities rallied after President Barack Obama inked a debt ceiling agreement into law yesterday, building on the gains sparked Monday by the news that a compromise was near.