Cross-Border Application of Certain Swaps Provisions of the Commodity Exchange Act (CFTC Proposed Interpretive Guidance and Policy Statement)

The CFTC published for public comment this proposed interpretive guidance and policy statement regarding the cross-border application of the swaps provisions of the Commodity Exchange Act (CEA) that were enacted by Title VII of the Dodd-Frank Act. Specifically, this proposed interpretive guidance and policy statement describes the following: (i) the general manner in which the Commission will consider whether a person's swap dealing activities or swap positions may require registration as a swap dealer or major swap participant, respectively, and the application of the related requirements under the CEA to swaps involving such persons; and (ii) the application of the clearing, trade execution, and certain reporting and recordkeeping provisions under the CEA, to cross-border swaps involving one or more counterparties that are not swap dealers or major swap participants.

View release in full here (links externally to GPO website).