SEC and CFTC seek comment on harmonizing derivatives product definitions
Regulation · · Ketju Research
This entry records a proposal. It does not change the law unless it is adopted.
What changed
The SEC and CFTC jointly opened a request for comment on updating and harmonizing swaps, security-based swaps, mixed swaps, exclusions, novel products, jurisdictional lines, and alternative compliance. The request creates no current exemption or definitional change.
Who it affects
- Swap and security-based swap market participants
- Advisers, funds, dealers, venues, clearinghouses, CTAs, CPOs, and clients using novel derivatives
What is still open
- Whether the agencies will propose rules or interpretations
- Treatment of mixed, event-based, crypto-linked, and other emerging products
What it means for an advisor
- Inventory products whose classification or reporting depends on Title VII definitions
- Monitor the docket and preserve current compliance treatment until an operative action is adopted
Previous interpretation
The agencies administered existing Title VII definitions without this new joint harmonization review.
Sources
- SEC, CFTC Seek Public Comment to Further Clarify and Harmonize Derivatives Product Definitions · U.S. Securities and Exchange Commission and Commodity Futures Trading Commission ·
Version 1, published . Educational analysis, not legal advice.