SEC and CFTC Rule Defining Swap-Related Terms

On April 18, pursuant to Title VII of the Dodd-Frank Act, the SEC and CFTC adopted joint rules to define certain terms related to the over-the-counter swaps market as part of the Securities Exchange Act of 1934 and the Commodity Exchange Act. The SEC rule will be effective 60 days after the date of publication in the Federal Register while the text of the CFTC rules will be published in conjunction with the adoption of final rules further defining “swap” and other terms later this year.  SEC Release.  CFTC Fact Sheet.  CFTC Q&A.