CFTC to Exempt Non-U.S. Swaps Clearers from Registration
By Louisa Chender
August 8, 2018, Global Investor Group
The Commodity Futures and Trading Commission (CFTC) is planning to exempt “comparable” foreign swaps clearing firms from registering under U.S. rules in the latest attempt to simplify rules under Project KISS.
Under existing policies and procedures, the CFTC is able to exempt non-U.S. clearing firms from registering as a derivatives clearing organization (DCO) if their supervision and regulations are deemed “comparable and comprehensive” on a case by case basis.
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