Final Rules Defining "Swap Dealer" and "Major Swap Participant" under Dodd-Frank Issued by Regulators | Practical Law
The CFTC and the SEC issued joint final rules defining the terms "swap dealer," "major swap participant," "security-based swap dealer" and "major security-based swap participant" for purposes of the Dodd-Frank Act, the Commodity Exchange Act (CEA) and the US securities laws. The rules also modify the definition of "eligible contract participant" under the CEA to include swap dealers (SDs), major swap participants (MSPs), security-based swap dealers (SBSDs) and major security-based swap participants (MSBSPs).