Calm Before the Storm - CFTC Proposes Temporary Exemptive Relief

17 June 2011
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Key takeaways 

  • Title VII of the Dodd-Frank Act provides that certain swap regulations are meant to be self-effectuating on July 16, 2011. However, the rulemaking task given to the Commodity Futures Trading Commission is still in progress. 
  • To ensure an orderly transition to the new swap regulatory regime, the Commodity Futures Trading Commission has proposed to give temporary exemptive relief with respect to a number of self-effectuating swap regulations, notwithstanding the effective date of July 16, 2011.