A CFTC proposal on the registration of low-risk, non-U.S. DCOs was published in the Federal Register. Comments must be submitted by September 17, 2019.
As previously covered, the proposed rule would formalize the CFTC's approach to registration of non-U.S. DCOs that clear swaps for U.S. persons. The proposal would also establish a process by which non-U.S. DCOs that do not pose a substantial risk to the U.S. financial system can register with the CFTC but satisfy compliance obligations by satisfying home country requirements.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
