Lingering Questions On CFTC And SEC Swap Product Rule

Law360, New York (November 8, 2012, 4:44 PM EST) -- The energy industry was able to heave a collective sigh of relief based on the treatment of energy transactions under the so-called swap product rule[1] jointly adopted on Aug. 13, 2012, by the U.S. Commodity Futures Trading Commission and the U.S. Securities and Exchange Commission and, in particular, the forward contract exclusion[2] contained in the rule.

However, subsequent actions by the CFTC suggest that not all energy transactions are being treated appropriately in the views of some energy market participants — who note the potential for...
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