CFTC Proposes to Define Swap Inclusion for Eligible Event Contracts
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The U.S. Commodity Futures Trading Commission (CFTC) has released a proposed rule to further define the scope of inclusion for the term "swap," bringing event contracts within CFTC jurisdiction under the swap definition, clarifying the regulatory boundary for event contracts. The proposal specifies that the inclusion scope is limited to event contracts that fall within the swap definition under CFTC jurisdiction, excluding instruments that may fall under futures or U.S. Securities and Exchange Commission (SEC) regulation, and does not cover casino-style gambling products. The SEC jointly proposed the rule as required by law. The proposal does not further define "security-based swaps," and the CFTC has sought input from the Board of Governors of the Federal Reserve System on the proposal.
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- Federal Register: CFTC rules and noticesCFTC Proposes Further Defining the Inclusion Scope of the 'Swap' Definition
The CFTC released a proposed rule to further define the inclusion scope of the 'swap' definition and clarify the regulatory boundary of event contracts. This proposal does not further define 'security-based swaps', and the CFTC has sought the opinion of the Board of Governors of the Federal Reserve System on this proposal.
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