Tag Archives: guarantee

2015 CFTC Regulatory Agenda

As 2015 is now underway, we wanted to highlight some of the potential regulatory developments from the CFTC that may arise in the new year. Overall we expect 2015 to be a year of continued CFTC implementation of the Dodd-Frank rules and related "tweaks" to those rules to address the concerns of end-users and market participants.… Continue Reading

A Swap Guarantor Must Be An ECP: CFTC OGC Letter No. 12-17

Section 2(e) of the Commodity Exchange Act requires every swap counterparty to be an eligible contract participant ("ECP").  In CFTC OGC Letter No. 12-17, the CFTC Office of General Counsel stated that it interprets section 2(e) to require each guarantor of a swap to be an ECP.  In other words, as a general rule, a non-ECP can … Continue Reading