List of Open Consultations and Rule Proposals

With the November 15 and 16 G20 Summit in Brisbane fast approaching, policy makers and regulators in the US and the UK have been hard at work. Not to be outdone, IOSCO, ESMA, and BIS have also been busy. Eager to demonstrate progress on financial re-regulation and reform, there has been a flurry of consultation papers and rule proposals at all levels over the past quarter. The following is a list, current as of October 9, 2014, of some of the more noteworthy proposals and consultation papers whose comment periods are currently open. It should be noted that a number of these consultations close imminently.

OPEN CONSULTATIONS AND PROPOSALS

US Treasury

• Treasury Issues Proposed Rules to Enhance Financial Transparency

US Regulators

• CFTC Proposes Margin Requirements For Uncleared Swaps

• CFPB Proposes New Rule Expanding Oversight To Nonbank Auto Finance Companies

• SEC – Treatment of Certain Communications Involving Security-Based Swaps That May Be Purchased Only By Eligible Contract Participant

• SEC – Removal of Certain References to Credit Ratings and Amendment to the Issuer Diversification Requirement in the Money Market Fund Rule

• FDIC et al. – Agencies Seek Comment on Swap Margin Requirements

• OCC – Margin and Capital Requirements for Covered Swap Entities

• OCC – Community Reinvestment Act; Interagency Questions and Answers Regarding Community Reinvestment

IOSCO

• IOSCO Publishes Consultation Paper On Risk Mitigation Standards For Non-Centrally Cleared OTC Derivatives

• Auditing Estimates and Fair Value Measurements

UK

• UK Treasury Consultation – Fair and effective market review’s benchmarks to bring into UK regulatory scope

• UK Treasury Consultation – Implementation of the EU Mortgage Credit Directive.

• UK Treasury Consultation – Banking reform: draft pensions regulations.

• FCA consults on Mortgage Credit Derivatives Implementation

ESMA

• Guidelines on the application of C6 and C7 of Annex I of MiFID (Definition of “derivatives).

Bank for International Settlements

• Operational risk – Revisions to the simpler approaches – consultative document