CFTC Floats Blame-Sharing Rule For Swaps Under Dodd-Frank

Law360, New York (June 14, 2012, 4:15 PM EDT) -- The U.S. Commodity Futures Trading Commission on Thursday proposed a new rule to clarify that under the Dodd-Frank Act, swap dealers and major swap participants who jointly supervise an individual engaging in misconduct must share responsibility for that wrongdoing.

The CFTC already is seeking to require swap dealers and major swap participants to register with the commission and comply with stricter financial oversight under the Dodd-Frank Act. The rule proposed Thursday would regulate individuals who conduct business on behalf of multiple swap market entities.

Under the...
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