Derivative Government Representatives Working Group
SIFMA supports a robust, safe, and global derivatives market in which financial institutions and end-users can come together to appropriately manage their business and financial risks. SIFMA’s believes that, in order for these markets to function properly and allow businesses to fully meet their needs, there must be a consistent and harmonized global regulatory system for the derivatives market.
SIFMA is working to achieve its objectives by constructively engaging with the primary derivatives market regulators, the CFTC and the SEC, as well as the prudential regulators in the context of derivatives regulations. SIFMA’s Derivatives Government Representatives Committee works closely with SIFMA’s Swap Dealer Committee and SIFMA’s Asset Management Group (AMG) to determine the ultimate business impact of regulations and to determine the best course of action in its advocacy efforts.
The Derivatives Government Representatives Committee serves as a forum for domestic and foreign based firms to discuss the impacts of global regulatory efforts as U.S. and international regulators create and implement an entirely new regulatory environment for derivatives products. Developments in the legislative and regulatory spheres are presented to the committee and potential advocacy strategy is determined. The committee engages in the creation and development of correspondences to legislators in the form of comment letters, letters of support for legislation, and formal written testimony for Congressional hearings.
Key Priorities & Issues
- Title VII Derivatives Reform
- Cross-Border Derivatives Regulation
- CFTC Rule Implementation
- SEC Rule Development and Implementation
- CEA Reauthorization
- Swaps Push-Out Rule
- Margin for Non-Cleared Swaps