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External Meetings: Meeting with BNP Paribas Fortis

9/27/2010 12:30 PM
II. Definitions

XVIII. Real Time Reporting

CFTC Staff:
Gary Gensler

Yousuf Siddiqui
Filip Dierckx, BNP Paribas Fortis

Amine Bel Hadj Soulami, BNP Paribas
BNP Paribas Fortis
  • The meeting was held at the office of BNP Paribas Fortis in Brussels, Belgium. Participants discussed issues concerning the applicability of the new rules under Dodd-Frank to the swaps activities of global institutions. Participants expressed concerns with the potential burden of the real-time reporting requirement under Dodd-Frank. Participants also were interested in hearing about the extraterritorial impact of Dodd-Frank, and how the regulatory approach should be tempered so as not to lead to duplicative regulation by regulators in multiple jurisdictions being applied to the same financial institution.