CFTC approves capital comparability order for nonbank swap dealers in EU
Crypto Briefing
The CFTC now allows French nonbank swap dealers to satisfy US capital requirements by complying with French financial regulations.Summary
The Commodity Futures Trading Commission (CFTC) has issued a "conditional substituted compliance" order, allowing CFTC-registered nonbank swap dealers domiciled in France to meet US capital and financial reporting requirements by following the European Union’s Investment Firms Regulation (IFR) and Investment Firms Directive (IFD). This move aims to reduce regulatory fragmentation by eliminating the need for firms to navigate two conflicting rulebooks. To utilize this framework, firms must notify the CFTC and receive staff confirmation, ensuring the agency maintains oversight while streamlining international regulatory compliance.
(Source：Crypto Briefing)