November 30, 2020

Volume X, Number 335

Advertisement

CFTC and Bank of England Sign Updated MOU for Supervision of Cross-Border Clearing Organizations

On October 20, the Commodity Futures Trading Commission and the Bank of England (BoE) announced that they had signed an updated Memorandum of Understanding (MOU) regarding the cooperation and exchange of information to preserve the benefits of cross-border clearing activity. The MOU emphasizes the importance of supervision of central counterparties (CCPs) and clarifies that the central counterparty’s home jurisdiction is the primary supervisor. CFTC Chairman Heath P. Tarbert and BoE Deputy Governor for Financial Stability Jon Cunliffe published a joint op-ed further describing the agreement, which is available here.

The press release and access to the MOU is available here.

©2020 Katten Muchin Rosenman LLPNational Law Review, Volume X, Number 297
Advertisement

TRENDING LEGAL ANALYSIS

Advertisement
Advertisement

About this Author

Christian B. Hennion, Finance Attorney, Katten Muchin Law Firm
Associate

Christian B. Hennion concentrates his practice in financial services and asset management matters, including counseling fund managers, registered investment advisers and commodity trading advisors on both transactional and regulatory matters. Chris has advised a wide range of US and international managers, from start-ups to large institutions, regarding a variety of matters, including private fund launches and reorganizations, advisory engagements, Investment Advisers Act and Commodity Exchange Act compliance obligations, Securities and Exchange Commission (SEC) and Commodity Futures...

312-902-5521
Jack West Financial Attorney Katten
Associate

Jack West is an associate in the Financial Markets and Funds practice.

312-902-5463
Advertisement
Advertisement