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FINRA Proposes Rule Change to Extend the Implementation of Margin Requirements for Credit Default Swaps

On June 14, the Financial Industry Regulatory Authority filed with the Securities and Exchange Commission a proposed rule change extending to July 18, 2018, the interim pilot program with respect to margin requirements for certain credit default swaps. The interim pilot program, which was implemented by FINRA Rule 4240, had been set to expire on June 18. (For additional information related to Rule 4240, please see the June 17, 2016 edition of Corporate and Financial Weekly Digest.

The text of the rule change is available here.

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Special Counsel

Michael Foley represents broker-dealers, investment advisers and other financial services industry participants with respect to a broad spectrum of legal and regulatory matters arising under the federal securities laws.

Michael has nearly 20 years of experience in private practice and in-house at both a large, full-service broker-dealer and at an online discount broker-dealer, advising broker-dealers and other financial institutions regarding compliance with the federal securities and commodities laws, and with the regulations of the US Securities and Exchange...

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Stanley V. Polit, Katten Muchin, Financial Services lawyer, Corporate Regulatory Matters Attorney
Associate

Stanley Polit concentrates his practice in transactional, corporate and regulatory aspects of financial services matters. Stan is able to provide legal services to a wide variety of clients including proprietary trading firms, hedge funds, broker-dealers, registered investment advisers, commodity trading advisers, financial institutions and general corporate clients.

Prior to joining Katten, Stan served as a council member for a national crisis management firm, where he specialized in crisis communication and merged media strategies. He has lectured extensively and conducted trainings related to these topics at numerous national and international conferences, including the National Communication Association's National Convention, the International Crisis and Risk Communication Conference and the Disaster Recovery Journal's World Business Continuity Conference.

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