Regulatory Alerts2013-07-26 | 2013-17958Interpretive Guidance and Policy Statement Regarding Compliance With Certain Swap Regulations
The Commodity Futures Trading Commission finalized interpretive guidance and a policy statement regarding the cross-border application of the swaps provisions of the Commodity Exchange Act. The document defines the scope of the term 'U.S. person,' establishes frameworks for swap dealer and major swap participant registration, and categorizes Dodd-Frank requirements into entity-level and transaction-level obligations. It further details the application of these requirements to foreign branches, guaranteed counterparties, and affiliate conduits to address systemic risk in the global swaps market.
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