As financial institutions and many commercial entities are becoming increasingly aware, subtitle A of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) established a comprehensive swaps regulatory scheme in the US. The Commodity Futures Trading Commission (CFTC or Commission) has authority over the regulation of swaps, and the Securities and Exchange Commission has been granted regulatory authority over a class of swaps referred to as security-based swaps. The CFTC, pursuant to the Commodity Exchange Act as amended by Dodd-Frank (CEA), has adopted rules for: the registration and regulation of swap dealers and entities with large swap positions (referred to as major swap participants or MSPs); clearing on designated clearing organisations; execution of swaps
trades on swap executing facilities or futures exchanges that are technically called designated contract markets; and reporting and recordkeeping through swap data repositories.
International Financial Law Review
Structuring in Good Faith – the Transactions That Will and Won’t Run Afoul of US Swap Anti-Evasion Rules