Swaps Rules, U.A.E. Debt, Basel Deadline: Compliance

JPMorgan Chase & Co., Goldman Sachs Group Inc. and the $648 trillion swaps market will enter a new era of transparency when Dodd-Frank Act regulations for dealers begin taking effect today.

The rules, more than two years in the making at the U.S. Commodity Futures Trading Commission, will improve oversight of a market that for three decades has largely escaped federal regulation, CFTC Chairman Gary Gensler said Oct. 10. The agency is preparing a series of exemptions and guidelines to ease the transition and phase in regulations.