Swap dealers given grace period for variation margin rule by U.S. regulator
WASHINGTON Feb 13 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)