The SEC and the Commodity Futures Trading Commission (CFTC) announced that their agencies will be partnering to host a virtual open meeting on Thursday, October 22, 2020, at 10:00 am EDT.
At the joint meeting, the two groups will be considering issuing a request for comment that would welcome remarks on all aspects of the portfolio margining of uncleared swaps, non-cleared security-based swaps, and related positions. If the request is issued, the agencies would also be interested in feedback on the merits, benefits, and risks of portfolio margining these types of positions or on any regulatory, legal, and operational issues related to portfolio margining them.
The SEC and CFTC will also discuss adopting final rule amendments that would reduce the margin requirement for an unhedged security futures from 20% to 15%, making it comparable with similar financial products. They will consider whether to adopt certain conforming modifications to the security futures margin offset table as well.
The virtual event is free and open to the public. The live webcast will be available on the SEC’s website. For more information, please visit the SEC’s Upcoming Events page.