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SEC, CFTC Unveil Swap Definitions

The U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission have jointly unveiled proposed definitions of key derivatives terms in the Dodd-Frank Act, reports Reuters.

The U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission have jointly unveiled proposed definitions of key derivatives terms in the Dodd-Frank Act. In addition to the definitions of “swap” and “security-based swap,” among others, the proposal also details which types of contracts would be not be regulated as swaps under the law., and how the two agencies would share oversight of the over-the-counter derivatives market.

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