Regulatory Alerts2018-11-13 | 2018-24579Added · Updated
De Minimis Exception to the Swap Dealer Definition
The Commodity Futures Trading Commission issued a final rule amending the de minimis exception within the swap dealer definition by setting the aggregate gross notional amount threshold at $8 billion. This regulation applies to swap dealing activity entered into by a person over the preceding 12 months, effectively maintaining the higher threshold during the phase-in period. The rule is designed to balance regulatory oversight with market efficiency by exempting entities with modest dealing activity from full swap dealer registration requirements.
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