The CFTC is the first Regulator to break cover following the 5 March BCBS\IOSCO IM Phase 5 statement. The outgoing Commission Chairman Giancarlo has released a letter sent to Federal Reserve Board Vice Chairman Randal K. Quarles recommending that US regulators issue guidance echoing the BCBS mitigation. CC’ing the FCA, the BoE and ESMA, he […]
Bill: Firms who hope they might avoid preparing for Phase 5 should follow this topic. IMO this doesn't change anything, if you are above the notional threshold then you need to make full preparations.