What are CFTC regulated swaps?
The CFTC adopted anti-evasion rules that define as swaps those transactions that are willfully structured to evade the requirements of the Dodd-Frank Act.
What categories are outlined by the CFTC?
The Disaggregated COT report increases transparency from the legacy COT reports by separating traders into the following four categories of traders: Producer/Merchant/Processor/User; Swap Dealers; Managed Money; and Other Reportables.
What is the difference between NFA and CFTC?
After calling representatives from both bodies and a lawyer specializing in futures investing, as well as doing additional research, the short version is this: the CFTC writes the rules and enforces them for non-NFA members, and the NFA enforces the rules for its members unless the infraction is a large one.
Which swaps does the SEC regulate?
The SEC regulates Security-Based Swaps (SBS) and Security-Based Swap Dealers (SBSD). The CFTC regulates Swaps and Swap Dealers. Shortly after, the regulatory bodies adopted rules to provide further clarity for the characteristics of SBS, SBSD, Swaps and Swap Dealers.
Who regulates swap markets?
Securities and Exchange Commission
“Swaps” are generally regulated by the Commodity Futures Trading Commission (the “CFTC”) under the Commodity Exchange Act (the “CEA”), and “security-based swaps” are regulated by the Securities and Exchange Commission (the “SEC” and, together with the CFTC, the “Commissions”) under the Securities Exchange Act of 1934.
Who regulates the CFTC?
The Commodity Futures Trading Commission
The Commodity Futures Trading Commission (CFTC) is an independent agency of the US government created in 1974, that regulates the U.S. derivatives markets, which includes futures, swaps, and certain kinds of options….Commodity Futures Trading Commission.
Agency overview | |
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Website | www.cftc.gov |
Footnotes |
Does the CFTC regulate equity swaps?
Under the Dodd-Frank Act, the SEC regulates “security-based swaps,” and the CFTC regulates “swaps.” There are rules defining which types of transactions are consi based swaps,” and which dered “swaps,” which are considered “security- fall outside the definition of either.
Whats the meaning of CFTC?
Commodity Futures Trading Commission (CFTC): The Federal regulatory agency established by the Commodity Futures Trading Act of 1974 to administer the Commodity Exchange Act.
What does NFA stand for CFTC?
History. The National Futures Association (NFA) was created by the Commodity Futures Trading Commission (CFTC) in September 1981 and began regulatory operations in 1982.
What is the NFA CFTC?
NFA is the industrywide, self-regulatory organization for the U.S. derivatives industry. Designated by the CFTC as a registered futures association, NFA strives every day to safeguard the integrity of the derivatives markets, protect investors and ensure Members meet their regulatory responsibilities.
What was the CFTC final rule on swaps?
The Commission unanimously approved a final rule that revises its regulations that establish swap data recordkeeping and reporting requirements for SDRs, DCOs, SEFs, DCMs, SDs, MSPs, and swap counterparties that are neither SDs nor MSPs.
How are foreign exchange forwards defined by the CFTC?
In addition, while foreign exchange forwards [1] and foreign exchange swaps [2] are now defined as swaps subject to CFTC jurisdiction, the Secretary of the Treasury has the authority to exempt foreign exchange forwards and foreign exchange swaps from the “swaps” definition.
What do you need to know about swap definitions?
The Swap Definitions are extremely long and detailed and provide guidance on classifying particular agreements, contracts and transactions as swaps, security-based swaps or mixed swaps, which in turn determines the relevant agency or agencies, rules and regulations to which a particular instrument will be subject.
When to file for an exemption from CFTC?
Managers of private funds holding or trading any swaps subject to CFTC jurisdiction will need to register or file for an exemption with the CFTC by December 31, 2012 (or if later, by 60 days from the publication of the new rule in the Federal Register).