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ARTICLE · 21 JULY 2013

CFTC Adopts Final Cross Border Swaps Guidance

Ropes & Gray LLP
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Recently the U.S. Commodity Futures Trading Commission (the "CFTC") adopted final guidance regarding the cross border application of the new derivatives requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd Frank"), as well as an interim final exemptive order that phases in the relevant requirements.

United StatesFinance and Banking
Ropes & Gray LLP'S Hedge Fund Practice Group
Ropes & Gray LLP'S Hedge Fund Practice Group
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Recently the U.S. Commodity Futures Trading Commission (the “CFTC”) adopted final guidance regarding the cross border application of the new derivatives requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd Frank”), as well as an interim final exemptive order that phases in the relevant requirements. This adoption was welcome news for market participants, who were facing substantial uncertainty since the CFTC’s existing temporary cross border guidance was scheduled to expire today.

The final text of the guidance and the exemptive order is not yet available. However, below are some highlights of the guidance and the exemptive order for funds and investment advisers, based on the discussion at the CFTC meeting and the materials released so far:

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