Broader US person definition could cause clearing avalanche, participants warn – Risk.net
Not literally referring to extra-large US citizens, the definition of "US Person" by the CFTC could cause many entities currently exempt from Dodd Frank, to get going and be part of it by June. The definition is as-yet not crystal clear and has an exemption which expires soon. Full story at Risk Mag below, subs required.
- Tier 1: 100 entities
- Tier 2: 1000 – 2000 entities