February 13, 2017 / 10:23 PM / 3 years ago

Swap dealers given grace period for variation margin rule by U.S. regulator

WASHINGTON, Feb 13 (Reuters) - The U.S. derivatives regulator on Monday took a procedural step to make it easier for swaps dealers to comply with a variation margin rule that becomes effective March 1.

While the rule’s implementation will not be postponed, the Commodity Futures Trading Commission said it will not take an enforcement action against a swap dealer for failure to comply with it until Sept. 1 in what is known as a “no-action letter.”

Reporting by Lisa Lambert; Editing by Chris Reese

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