On April 27, pursuant to Sections 712 and 721 of the Dodd-Frank Act, the CFTC and SEC issued proposed rules that would further define the terms swap, security-based swap, and security-based swap agreement. The proposed rules also would adopt regulations regarding mixed swaps as well as books and records for security-based swap agreements. During the April 27 Open Meeting in which the CFTC approved the proposed rules, the Commissioners observed four different approaches between the SEC and CFTC: (i) the inclusion of anti-evasion provisions in the proposed rules; (ii) the treatment of insurance on swaps as a securities-based swap; (iii) treatment of swaps linked to futures for foreign sovereign debt securities; and (iv) the jurisdiction and applicable regulatory requirements of the CFTC over indexed credit default swaps. Comments must be submitted within 60 days after publication in the Federal Register. SEC Release. CFTC Fact Sheet. CFTC Open Meeting Webcast.