CFTC Allows French Affiliate to Use EU Capital Rules Instead of U.S. Rules
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Table of Contents
The Commodity Futures Trading Commission approved a request from Goldman Sachs Paris to follow European Union capital and financial reporting rules instead of certain U.S. requirements. This is called substituted compliance. It means the firm can meet its U.S. regulatory obligations by complying with the EU’s Investment Firms Regulation and Investment Firms Directive, which already apply to it in France.
Why it matters: This is mostly an administrative alignment that lets a single foreign affiliate operate without duplicating reporting and capital calculations. It reduces compliance paperwork for the firm and keeps the U.S. and EU regulatory systems in sync. The practical impact is narrow: only Goldman Sachs Paris currently falls under this exact regulatory category in France.
Who it affects
- Goldman Sachs Paris Inc. et Cie
This action was published by the Commodity Futures Trading Commission in the Federal Register; you should review the full order for the exact conditions and reporting requirements before relying on it.
Agency: Commodity Futures Trading Commission
Source: Federal Register — read the official document