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Jul 13, 2012

CFTC Adopts Final Order Extending Delay in Compliance Dates for Dodd-Frank Derivatives Requirements

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On July 3, 2012, the Commodity Futures Trading Commission (“CFTC”) adopted an order to further extend temporary relief from the effective dates of many new requirements for swaps under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) that otherwise would have taken effect on July 16, 2012 (the “Final Order”). The CFTC first granted temporary relief from the effectiveness of these requirements in a final order issued on July 14, 2011 (the “July 14 Order”), which granted relief from compliance with most of the new requirements under Dodd-Frank through December 31, 2011. The CFTC extended this relief through July 16, 2012 through an amended July 14 Order made effective on December 23, 2011. Apart from the changes detailed below, the Final Order further extends the relief of the amended July 14 Order until the earlier of December 31, 2012, or such other compliance date determined by the CFTC.

View full memo, "CFTC Adopts Final Order Extending Delay in Compliance Dates for Dodd-Frank Derivatives Requirements"

Authors and Contributors

Azam Aziz

Partner

Derivatives & Structured Products

+1 212 848 8154

+1 212 848 8154

New York

Geoffrey Goldman

Partner

Derivatives & Structured Products

+1 212 848 4867

+1 212 848 4867

New York

Donna Parisi

Partner

Derivatives & Structured Products

+1 212 848 7367

+1 212 848 7367

New York

Bradley K. Sabel

Of Counsel

Financial Institutions Advisory & Financial Regulatory

+1 212 848 8410

+1 212 848 8410

New York