Swap-Trading Platforms Could Face Fewer Limits

Under a bipartisan bill introduced in the U.S. House, derivatives regulators would be barred from adopting Dodd- Frank Act rules restricting the number of market participants who must receive or respond to price quotes on new trading facilities in the $601 trillion swaps market. The bill aims to require the U.S. Commodity Futures Trading Commission and Securities and Exchange Commission to allow for flexibility in the types of trading methods on … [Read more...]

SEC Proposes Fiduciary Duty for Public-Fund Swap Advisers

The U.S. Securities and Exchange Commission proposed a rule that would impose the fiduciary duty as part of business-conduct practices for swap dealers advising so-called special entities.    The rule would require swap dealers advising pension funds, endowments and municipalities to place the interests of such investors above their own.    Dealers would also have to “reasonably believe” the investors have an independent representative … [Read more...]