Comparability Determinations for Substituted Compliance Purposes

The Commodity Futures Trading Commission has approved a series of broad comparability determinations that would permit substituted compliance with non-U.S. regulatory regimes as compared to certain swaps provisions of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Commission’s regulations.

View Cross-Border Application of Swaps Provisions

As jurisdictions outside the U.S. continue to strengthen their regulatory regimes, the Commission may determine that additional foreign regulatory requirements are comparable to and as comprehensive as certain requirements under the Commodity Exchange Act and the Commission’s regulations.

Additional Information

Japan: Substituted Compliance Application for Japanese Swap Dealers from CEA Sections 4s(e)–(f) and Rules 23.101 and 23.105(d)–(e); cover letter; submitted 09/30/2021

Mexico: Substituted Compliance Application for Mexico Swap Dealers from CEA Sections 4s(e)–(f) and Rules 23.101 and 23.105(d)–(e); submitted 09/28/2021

European Union (EU): Substituted Compliance Application for EU Swap Dealers from CEA Sections 4s(e)–(f) and Rules 23.101 and 23.105(d)–(e); submitted 09/24/2021

Business Conduct Rules for Swap Dealers and Major Swap Participants Summary of Entity-Level Comparability Determinations (CFTC Press Release 6802-13)

Publication
Date

Comparability Determination
04/03/2019

84 FR 12908 // PDF Version
17 CFR Chapter I Comparability Determination for Australia: Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
04/01/2019

84 FR 12074 // PDF Version
17 CFR Chapter I Amendment to Comparability Determination for Japan: Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
Effective Date: Monday, April 1, 2019
10/18/2017

82 FR 48394 // PDF Version
17 CFR Chapter I Comparability Determination for the European Union: Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
Effective Date: Friday, October 13, 2017 
09/15/2016

81 FR 63376 // PDF Version
17 CFR Chapter I Comparability Determination for Japan: Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
Effective Date: Thursday, September 15, 2016 
12/27/2013

78 FR 78864 // PDF Version
Australia: Certain Entity-Level Requirements
Effective Date: Friday, December 27, 2013
12/27/2013

78 FR 78852 // PDF Version
Hong Kong: Certain Entity-Level Requirements
Effective Date: Fr iday, December 27, 2013
12/27/2013

78 FR 78910 // PDF Version
Japan: Certain Entity-Level  Requirements
Effective Date: Friday, December 27, 2013
12/27/2013

78 FR 78890 // PDF Version
Japan: Certain Transaction-Level Requirements
Effective Date: Friday, December 27, 2013
12/27/2013

78 FR 78899 // PDF  Version
Switzerland: Certain Entity-Level Requirements
Effective Date: Friday, December 27, 2013
12/27/2013

78 FR 78839 // PDF Version
Canada: Certain Entity-Level Requirements
Effective Date: Friday, December 27, 2013
12/27/2013

78 FR 78923 // PDF Version
European Union: Certain Entity-Level Requirements
Effective Date: Friday, December 27, 2013
12/27/2013

78 FR 78878 // PDF Version
European Union: Certain Transaction-Level Requirements
Effective Date: Friday, December 27, 2013