SEC Swap Trading Analysis Could Hedge Court Challenges

Law360, New York (March 16, 2012, 6:15 PM EDT) -- The U.S. Securities and Exchange Commission on Thursday published an analysis of credit default swap trading data that it will use to justify new rules for defining which firms will be covered by new trading rules and could shut off the threat of legal challenges to the key Dodd-Frank Act requirement.

The SEC and the U.S. Commodity Futures Trading Commission have been struggling to determine just which firms would fall under the "swap dealer," "security-based swap dealer," "major swap participant," "major security-based swap participant" and "eligible...
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