What is CFTC Dodd-Frank?
The Dodd-Frank Wall Street Reform and Consumer Protection Act brings comprehensive reform to the regulation of swaps. These products, which have not previously been regulated in the United States, were at the center of the 2008 financial crisis.
What does the Dodd-Frank Act regulate?
The Dodd-Frank Act put restrictions on the financial industry and created programs to stop mortgage companies and lenders from taking advantage of consumers. Dodd-Frank added more mechanisms that enabled the government to regulate and enforce laws against banks as well as other financial institutions.
What is the CFTC regulation?
What Does the CFTC Regulate? The CFTC regulates the U.S. derivatives markets. This includes the commodity futures, options, and swaps markets as well as over-the-counter (OTC) markets.
What is the purpose of CFTC?
The Commodity Futures Trading Commission protects the public from fraud, manipulation, and abusive practices related to the sale of commodity and financial futures and options, and to fosters open, competitive, and financially sound futures and option markets.
What is a swap dealer under Dodd-Frank?
According to Section 721 of the Dodd-Frank Act, a swap dealer is an entity that: Holds itself out as dealer in swaps; Makes a market in swaps; Regularly enters into swaps with counterparties as an ordinary course of business for its own account; or.
Who are the US regulators under the Dodd-Frank Act Title VII )?
Definitions and Regulatory Authority Title VII grants the CFTC regulatory authority over swaps, except for security-based swaps, which are regulated by the SEC. See 15 U.S.C. § 8302(a).
Which entities are covered by the Dodd-Frank Act?
The Dodd-Frank Wall Street Reform and Consumer Protection Act targeted the sectors of the financial system that were believed to have caused the 2007–2008 financial crisis, including banks, mortgage lenders, and credit rating agencies.
What is a CFTC financial entity?
FIRST PRONG: “FINANCIAL ENTITY” Under the CEA, a “financial entity” is defined as a (i) swap dealer, (ii) security-based swap. dealer, (iii) major swap participant, (iv) major security-based swap participant, (v) commodity. pool, (vi) private fund,4 (vii) employee benefit plan,5 or (viii) person predominantly engaged …
Who regulates the CFTC?
the US government
The Commodity Futures Trading Commission (CFTC) is an independent agency of the US government created in 1974, that regulates the U.S. derivatives markets, which includes futures, swaps, and certain kinds of options….Commodity Futures Trading Commission.
| Agency overview | |
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| Website | www.cftc.gov |
| Footnotes |
Does CFTC regulate bitcoin?
The CFTC already regulates futures contracts for bitcoin and ethereum, the two most popular cryptocurrencies.
What is CFTC swap?
The CFTC adopted anti-evasion rules that define as swaps those transactions that are willfully structured to evade the requirements of the Dodd-Frank Act.
How are OTC derivatives regulated under the Dodd-Frank Act?
The regulation of OTC derivatives, commonly referred to as swaps, under Title VII of the Dodd-Frank Act is broken down by: Type of swap (see Types of Swaps Under Title VII ).
What is the commodity futures trading commission doing under Dodd-Frank?
The Commodity Futures Trading Commission is in the process of implementing the Dodd-Frank Wall Street Reform and Consumer Protection Act. Under Dodd-Frank, in August 2010, the Commission began issuing proposed rules and soliciting public comment. View Dodd-Frank Proposed Rules, Guidance and Exemptive Orders
Is there any CFTC enforcement activity under Dodd Frank?
CFTC enforcement activity. Updated 3/14/16 to reflect recent CFTC Title VII enforcement activity. SEC Adopts SBS Reporting and Recordkeeping Regime under Dodd-Frank.
What is the summary of the Dodd Frank Act?
Summary of Dodd-Frank Regulations. The Dodd-Frank Act outlined many provisions and regulations that were to be implemented over a period of several years. These provisions are meant to decrease risks in the U.S. financial system and protect consumers. The Dodd-Frank Act includes hundreds of pages and many areas of reform.