The Commodity Futures Trading Commission (CFTC) – European Commission (EC) Compliance Deal: Clarifying Clearing House Equivalence
On February 10, 2016, Commissioner Jonathan Hill of the European Commissioner for Financial Stability, Financial Services and Capital Markets Union and Chairman Timothy Massad of the U.S. Commodity Futures Trading Commission (CFTC) announced to the public a common approach on the requirements for transatlantic central counterparties (CCPs). The agreement between the US and EU will ensure that EU CCPs will be able to do business in the U.S. and that U.S. CCPs may continue to provide services to EU companies. Subsequently, the EU Commission intends to adopt an equivalence decision that pertains to CFTC requirements for US CCPs which allows ESMA to recognize US CCPs and for the CFTC staffs to propose determination of comparability with respect to EU requirements.
In order to avoid future risks and legal challenges, the CFTC staff, EU commission and counterparts across the global regulatory community will work together to enhance and harmonize the standards for internationally active CCPs.
In this LIVE Webcast, a seasoned panel of thought leaders, professionals and practitioners brought together by The Knowledge Group will discuss all the important issues and insights with respect to the CFTC and EC compliance deal.
Key topics include:
- Central Clearing Counterparties (CCPs) – Framework
- Requirements for Transatlantic Central Counterparties (CCPs)
- CFTC and EU Regulatory Requirements
- EU Clearing Obligations
- Client Margining Standards
- CFTC Requirements for U.S. CCPs
- Capital Requirements Regulation
Curtis A. Doty, Partner
Mayer Brown LLP
Who Should Attend:
- Attorneys in Banking and Finance
- Finance Lawyers
- Banking and Financial Institutions
- Financial Professionals
- Financial Industry Analysts
- Third Party Investment Managers
Curtis Doty is a Banking & Finance partner in Mayer Brown’s New York office. His practice focuses on the structuring, negotiation, and regulatory and insolvency analysis of OTC derivatives transactions. Curtis has been deeply involved in regulatory matters related to the CFTC’s implementation of the Dodd-Frank Title VII reforms, including as drafting counsel to ISDA on the ISDA Derivatives/FX Prime Brokerage Business Conduct Allocation Protocol, the November 2012 ISDA DF Disclosure, and numerous comment letters and requests for industry no-action relief. In the insolvency area, Curtis advises financial institutions on the insolvency treatment of specialized derivative agreements and counterparty types, including with regard to dealers’ prime services offerings to hedge funds and matters implicating the commodity broker insolvency provisions of the Bankruptcy Code and the CFTC’s Part 190 rules.
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Method of Presentation:
Experience in finance or government practice
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