Derivatives Oversight Under the Financial Reform Legislation

Preparing to Comply With the Sweeping Federal Regulation of the Derivatives Market

Recording of a 90-minute CLE webinar with Q&A


Conducted on Tuesday, September 14, 2010

Recorded event now available

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Program Materials

This CLE webinar will prepare attorneys who advise dealers and participants in the derivatives market to comply with the sweeping new regulatory oversight of derivative financial products under the new financial reform law.

Description

The financial reform law includes new oversight of over-the-counter derivatives with regulation by the US Commodity Futures Trading Commission and the SEC. The law regulates swap dealers and major swap participants like banks and large hedge funds and may also impact insurance and finance companies.

Among the new statutory requirements are registration, posting of margins for trades, capital requirements and reporting and recordkeeping requirements. End-user businesses are exempt if their derivative transactions are for hedging and other commercial risk purposes.

The law requires mandatory clearing of swaps on clearinghouses with oversight by the CFTC. There is a narrow exemption for commercial end users that are not financial entities. With some exceptions, banks must now segregate their derivative trading into separately capitalized subsidiaries.

Listen as our authoritative panel of financial services attorneys prepares you for the substantial federal regulatory oversight of the derivatives market.

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Outline

  1. Who is covered?
  2. New regulatory requirements
  3. Clearing of swaps
  4. Impact on derivative trading by banks

Benefits

The panel will review these and other key questions:

  • What is the scope of regulation of "swap dealers" and major "swap participants" and what financial entities are likely to be affected?
  • What businesses are exempt from the clearing of swaps on clearinghouses?
  • What limitations is the CFTC authorized to impose on swaps with "significant price discovery" and what criteria will the agency consider?
  • What derivatives trading activities must banks spin off and what trading activities are they permitted to engage in?

Faculty

Daniel Waldman
Daniel Waldman

Partner
Arnold & Porter

He is active in representing clients in investigations by the SEC and the CFTC. He represents exchanges, brokers,...  |  Read More

Michael F. Griffin
Michael F. Griffin

Partner
Arnold & Porter

He practices principally in the regulation of the securities, futures, swaps, and related derivative markets with...  |  Read More

Ahmad Hajj
Ahmad Hajj

Attorney
Arnold & Porter

He represents financial institutions, broker-dealers and hedge funds on a variety of matters including banking and...  |  Read More

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