CFTC Swaps Rule Could Cause Headaches For Insurers, States

Law360, New York (July 12, 2012, 9:59 PM EDT) -- While insurers are largely rejoicing over the U.S. Commodities Futures Trading Commission's Tuesday move to exempt them from Dodd-Frank rules for the swaps market, the commission's decision to define insurance products untouched by the regulations could create confusion for insurers and state insurance regulators alike, experts say.

The Dodd-Frank Wall Street Reform and Consumer Protection Act called for robust financial regulation of over-the-counter swaps markets but included a broad definition of "swaps" that swept up everything from insurance products to employment contracts.

The CFTC and the...
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