CFTC Issues Interim Final Rule Excluding Casino-Style Wagering Products from Swap Definition
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The U.S. Commodity Futures Trading Commission (CFTC) has issued an interim final rule further clarifying the statutory definition of a swap, excluding casino-style gambling products offered under state or tribal law from swap regulatory oversight. The rule does not address securities swaps within the jurisdiction of the U.S. Securities and Exchange Commission (SEC), which participated in its development pursuant to the statutory requirements of Section 712(d)(1) of the Dodd-Frank Act. The CFTC has consulted the Board of Governors of the Federal Reserve System regarding the rule.
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- Federal Register: CFTC rules and noticesCFTC Issues Interim Final Rule Excluding Casino-Style Gambling Products from the Swap Definition
The U.S. Commodity Futures Trading Commission (CFTC) issued an interim final rule to further clarify the 'swap' definition, excluding casino-style gambling products offered under state or tribal law from swap regulatory scope. This rule does not involve matters related to security-based swaps under SEC jurisdiction, and the CFTC has sought the opinion of the Board of Governors of the Federal Reserve System on this rule.
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