CFTC Proposed Rules on Capital Requirements for Swap Dealers and Major Swap Participants

On April 27, pursuant to Section 731 of the Dodd-Frank Act, the CFTC proposed rules that would mandate capital requirements for swap dealers and major swap participants that are not subject to prudential regulation by the Fed, OCC, FDIC, FCA, or FHFA. Capital requirements would be adjusted depending on whether a swap dealer or major swap participant is a futures commissions merchant, a nonbank subsidiary of a U.S. bank holding company, or neither of the foregoing. CFTC Fact Sheet.