Newsflash: CFTC Approves Final Rule on Margin Requirements for Uncleared Swaps

December 18, 2015

The Commodity Futures Trading Commission (CFTC) approved on December 16 final rules (Final Rules) on margin requirements for over-the-counter uncleared swaps entered into by CFTC-registered swap dealers (SDs) and major swap participants (MSPs) that are not subject to regulation by the so-called U.S. “Prudential Regulators.” The Final Rules are substantially consistent with the final margin rules adopted by the Prudential Regulators on October 22, 2015 (PR Rules). Investment funds and other buy-side participants will be required to comply with the Final Rules and PR Rules as a result of the obligations imposed on their SD counterparties.

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