As the Dodd-Frank Act rulemaking process has entered a phase of modifying some of its existing rules and interpretations, the role of the IECA’s Dodd-Frank Working Group (DFWG), chaired by Phil Lookadoo of Haynes and Boone LLP, has become potentially more relevant to the regulators and to IECA members than ever before. Since the inception of the DFWG, the group has filed a number of comment letters and petitions with the CFTC regarding issues that are of significant impact to the IECA membership. As a result of these filings and other work done by the DFWG, the CFTC is making modifications to its regulations to ensure that swap markets continue to work for commercial end-users.
The DFWG is responsible for producing a number of documents to help the IECA members address their Dodd-Frank related obligations including the IECA Amendment Adopting, Incorporating and Amending ISDA® August 2012 DF Supplement, IECA Amendment Adopting, Incorporating and Amending the ISDA® March 2013 DF Supplement, IECA Dodd-Frank Act Representations And Reporting Amending Agreement, IECA Amendment Adopting, Incorporating and Amending the ISDA® DF Protocol Extension: EMIR Protocol Reconciliation, Dispute Resolution and Disclosure and more. Further, the DFWG continues to actively monitor and participate in various initiatives being undertaken by ISDA® including its Resolution Stay Protocol.
The IECA’s DFWG provides a continuing educational service to the IECA’s members by providing a free weekly update call every Friday morning and periodic email updates during the week. If you would like to join our efforts, whether simply to keep up on Dodd-Frank developments affecting the energy industry or to actively participate in our efforts to ensure that regulatory and transactional developments recognize the interests of energy companies, please contact Phil Lookadoo, KC Hairston or Wendy Lewis.