CFTC Eases Cross-Border Swaps Rule As It Girds For Fight
By Evan Weinberger
Law360, New York (January 3, 2014, 5:59 PM ET) -- Amid an ongoing lawsuit over its cross-border swaps regulations, the U.S. Commodity Futures Trading Commission on Friday eased its cross-border swaps rule and gave foreign firms more time to come into compliance with those standards, as it also prepared to defend its November guidance.
The CFTC said that it would not take enforcement actions against non-U.S. swaps dealers who do not comply with transaction reporting requirements that were originally required in a Nov. 14 guidance on cross-border swaps trading enforcement. Such firms will have until September...