United States:
Effective And Compliance Dates Set For CFTC "Comprehensive Update" To Bankruptcy Regulations
15 April 2021
Cadwalader, Wickersham & Taft LLP
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The CFTC published in the Federal Register amendments
to the bankruptcy regulations (CFTC Rules Part 190) to "reflect current market
practices and lessons learned from past commodity broker
bankruptcies."
The amendments go into effect on May 13, 2021. The compliance
date for new CFTC Rule 1.43 ("Letters of credit as
collateral") is April 13, 2022, for letters of credit
accepted, and customer agreements entered into, by a futures
commission merchant before the effective date of the
amendments.
See here for related coverage of the
amendments.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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