CFTC clarifies capital and financial reporting requirements for swap dealers and major swap participants
The changes to Part 23 include the fine-tuning and harmonization of various rules including the tangible net worth approach and financial reporting requirements.
Article label: Quick Read
The final rule codifies information already contained in CFTC Staff Letters 21-15, 21-18 and 23-11 and is intended to make it easier for swap dealers and major swap participants to comply with both reporting obligations and minimum capital requirements.
Specifically, the CFTC is making changes to ensure that the net-worth-capital