Regulators Issue Final Rules and Interpretations Further Defining Swap-Related Terms

• Paul Architzel, Bruce Newman
• 8.14.2012

After much anticipation, the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) (together, the Commissions) on July 10 adopted joint final rules and interpretations further defining the terms “swap,” “security-based swap,” “security-based swap agreement” (SBSA), and “mixed swap” pursuant to Title VII of the Dodd-Frank Act (DFA). The final rules and interpretations will go into effect on October 12, 2012, 60 days after their publication in the Federal Register on August 13, also triggering the compliance dates for a variety of other swap-related regulatory requirements, including the filing of applications for registration with the CFTC as a swap dealer or major swap participant (MSP).

Read the article that discusses the final rules and interpretations.