The Tipping Point: Swap Product Definitions Finalized

July 2012
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The Tipping Point: Swap Product Definitions Finalized

At a glance

July 2012 - The CFTC and SEC released final definitions of what is a 'swap' or 'security-based swap' under the Dodd-Frank Act. This FS Regulatory Brief discusses the projected timing for swap dealers (and major swap participants) to comply with the CFTC's regulation of swaps.

Last week, the CFTC and SEC released final definitions of what is a “swap” or “security-based swap” (SBS) under the Dodd-Frank Act.

While the content of the product definitions rule is important and of interest, this FS Regulatory Brief discusses the projected timing for swap dealers (and major swap participants) to comply with major segments of the CFTC’s regulation of swaps. It includes an estimated timeline to help US and foreign swap dealers with tracking priorities for action. It also describes the proposed sequence that the SEC plans to follow to roll-out its regulations of SBS markets.

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