AFR Urges CFTC to Stand Firm on Cross-Border Enforcement
Three years after the Dodd-Frank Act, “There is no excuse for further delay… Without cross-border applicability, there is no effective regulation of derivatives.”
Tag Archives: Derivatives
International Civil Society Supports Strong U.S. Action on Derivatives
Organizations from across the globe came together in a letter to members of the G20 urging for stronger U.S. action in the derivatives market.
AFR in the News: Wall Street Regulator’s Race Against Time
CFTC chairman Gary Gensler is trying to make sure that banks cannot shield derivatives bets from effective oversight by funneling them overseas.
AFR Opposes HR 1038
AFR sent a letter to members of Congress urging them to oppose HR 1038. This legislation would make it easier for major dealers in the energy markets to avoid appropriate designation as swaps dealers, and would also remove important protections for public utilities in their swaps transactions.
Don’t Let Wall Street Offshore Its Recklessness
Tell the House of Representatives to say No to HR 1256, a bill that would open the way to a dangerous new surge of Wall Street gambling.
Opposition Materials to HR 1256
AFR sent a letter and one pager regarding HR 1256, the “Swaps Jurisdiction Certainty Act” to members of Congress, urging them to oppose the bill. HR 1256 would severely undermine regulators ability to protect U.S. taxpayers from risks that arise from overseas derivatives trading.
AFR Letter to Regulators Emphasizing Lessons of the Senate PSI London Whale Report
AFR sent a letter to regulators emphasizing the lessons from the Senate Permanent Subcommittee on Investigations (PSI) report on the London Whale.
AFR in the News: Bank Lobbyists Help Write Financial Bills
Citi’s recommendations influenced “more than 70 lines” of an 85-line bill. Two key paragraphs “were copied nearly word for word” from a draft prepared by Citi and two other large banks.
AFR in the News: House Derivatives Bills Challenged
Banks could “take exotic swap dealings and put them inside the public safety net, and we could all get stuck bailing these guys out like we did in 2008,” AFR policy director Marcus Stanley told the Washington Post.
AFR Opposes HR 1062
AFR sent a letter to members of Congress urging them to oppose HR 1062, “SEC Regulatory Accountability Act”. This legislation would imperil the implementation of many important financial regulatory rules by adding numerous unnecessary procedural requirements to rulemakings by the Securities and Exchange Commission (SEC).