SEC, CFTC To Define Who Covers Which Swaps

Law360, New York (April 27, 2011, 1:57 PM EDT) -- The U.S. Securities and Exchange Commission voted Wednesday to approve a joint set of rules with the U.S. Commodity Futures Trading Commission to establish definitions of “swap” and related terms that will govern which swap-related products each agency regulates.

The rules will establish the scope of financial products regulated as swaps under the Dodd-Frank Wall Street Reform and Consumer Protection Act, generally separating them into the categories of swaps, security-based swaps and mixed swaps, the SEC staff said.

The rules are part of a blitz of...
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