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CFTC | RIN: 3038-AD28 | Publication ID: Spring 2011 |
Title: ●Segregation & Bankruptcy: Protection of Collateral for Uncleared Swaps; Treatment of Securities in a Portfolio Margining Account in a Commodity Broker Bankruptcy | |
Abstract: The proposed regulation would 1. For uncleared swaps transactions between a swap dealer or major swap participant and a counterparty, promulgate rules governing segregation of assets posted as collateral by the counterparty; and 2. Exercise the Commission's rulemaking authority pursuant to section 20 of the Commodity Exchange Act "to ensure that securities held in a portfolio margining account carried as a futures account are customer property and the owners of those accounts are customers for the purposes of Subchapter IV of Chapter 7 of" the Bankruptcy Code. | |
Agency: Commodity Futures Trading Commission(CFTC) | Priority: Other Significant |
RIN Status: First time published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 17 CFR 23 and 190 | |
Legal Authority: sec 713(c) and 724 of PL 111-203, 124 Stat 1376 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: No | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Robert B. Wasserman Chief Counsel, Division of Clearing and Risk Commodity Futures Trading Commission Three Lafayette Centre, 1155 21st Street, NW., Washington, DC 20581 Phone:202 418-5092 Email: rwasserman@cftc.gov |