“Ryan McKee, senior regulatory adviser at Chatham Financial, noted that while corporate end users are exempt from key requirements under both sets of rules, such as clearing, there are still several obligations that require them to take action.”Read More
Posts Tagged ‘regulation’
“Right now, as many firms are working toward complying with their home country regulations, they’re just beginning to scratch the surface of additional regulations stemming from the jurisdictions of their counterparties,” Luke Zubrod, director at Chatham Financial, said in a statement released along with the report.”Read More
“Right now, as many firms are working toward complying with their home country regulations, they’re just beginning to scratch the surface of additional regulations stemming from the jurisdictions of their counterparties,” said Luke Zubrod, director at Chatham Financial in the company’s release “This means additional cost, confusion and uncertainty – the very factors end users enter into derivatives to avoid.”Read More
Chatham Financial to Host Global Webinar on Dodd-Frank and EMIR Compliance Obligations for Derivatives End UsersMonday, April 22nd, 2013
April 22, 2013 (London, England) – On Tuesday, April 23, 2013 at 3 p.m. GMT (10 a.m. ET) Chatham Financial will host a webinar discussing the new regulations governing the use of OTC derivatives in the United States and Europe. Partnering with Chatham Financial will be Richard Raeburn, chairman of the European Association of Corporate Treasurers (EACT), and Tom Deas, chairman of the National Association of Corporate Treasurers (NACT) and vice president and treasurer of FMC Corporation.
The webinar will focus on key compliance obligations for end users under Dodd-Frank and the European Market Infrastructure Regulation (EMIR) and will look specifically at the application of Dodd-Frank and EMIR regulations to cross-border transactions. There will also be a review of regulatory incentives and how they may impact hedging strategies
“Treasurers are responsible for safeguarding their companies’ cash and moving it from where it’s generated to where it’s needed, often across several international borders. They not only have to manage counterparty risks and risks from the movements of currency and interest rates, but now an increasingly complex web of global regulations, “said the NACT’s Deas.
Leading the discussion, Luke Zubrod and Ryan McKee from Chatham Financial’s Derivatives Regulatory Advisory team will focus on the intricacies of the cross border requirements. “As companies seek to navigate the regulatory complexities associated now with cross border transactions, we want to provide clear direction on compliance obligations and enable understanding of the economic impact of their decisions,” said Zubrod, director of Regulatory Advisory.
About Chatham Financial
Chatham Financial is a full-service risk management advisory services and technology solutions firm, serving clients in the areas of interest rate, foreign currency and commodity hedge advisory, hedge accounting, regulatory compliance, and debt and derivatives valuations. Chatham Financial has actively participated in the regulatory reform debate in the US and Europe and has become a nexus of knowledge for end users. Chatham Financial has provided policy and technical advice to numerous trade associations and businesses regarding the impact of derivatives regulation. It has conducted educational briefings for EU and US policymakers, testified before the US Congress, and participated in public roundtables held by key regulatory agencies responsible for writing derivatives regulations. ChathamFinancial.com
About the EACT
The EACT is a grouping of 20 national associations representing treasury and finance professionals in 17 countries of the European Union. The EACT brings together about 12,000 members employed within 6,500 groups/companies located in the EU. The association comments to the European authorities, national governments, regulators and standard-setters on issues faced by treasury and finance professionals across Europe. The EACT seeks to encourage the profession of treasury, corporate finance and risk management, promoting the value of treasury skills through best practice and education. EACT
About the NACT
The National Association of Corporate Treasurers (NACT) is a professional association of treasurers from leading corporations of all sizes. Its purpose is to facilitate the exchange of information beneficial to the management of corporate treasury and the professional development of its members. NACT
Contact Jake Daubenspeck
On behalf of Chatham Financial
(203) 254-1300 x107
Beginning mid-March 2013, European entities will need to know and make representations regarding their regulatory status under EMIR. An entity’s regulatory status will determine the application of new EMIR requirements. In addition, non-EU entities that transact with EU counterparties should also consider their status under EMIR in order to determine how certain requirements may, directly or indirectly, impact them.
More Information: EMIR Overview
If you have any questions on EMIR, please don’t hesitate to reach out to your Chatham advisor.
…“While dealers typically collateralize those offsetting transactions, ‘they don’t tend to over-collateralize their interbank transaction with initial margin,’” says Luke Zubrod, director at Chatham Financial…Read More
EACT and US Coalition Comment Letter on Second Consultative Document on Margin Requirements for Non-centrally-cleared-DerivativesTuesday, March 19th, 2013
…Financial entities must start clearing swaps by June 10, leaving companies just over three months to prepare their systems to clear “market-facing” trades, if that’s the CFTC’s decision. Luke Zubrod, a director at Chatham Financial, said that his firm’s “interactions with the CFTC” suggest regulators are sympathetic to non-financial companies’ concerns and are considering extending relief, so treasury centers’ market-facing trades would not be subject to clearing.”Read More
DerivSource: Dodd-Frank End-User Clearing Exception: Practical Considerations for Preparing Your BoardWednesday, March 13th, 2013