Swap Definitions Rules Proposed by the SEC and the CFTC Under Dodd-Frank (PDF)

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PDF :Electronic, 17 Pages
ISBN: 9781422429983
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On April 29, 2011, the Securities and Exchange Commission and the Commodity Futures Trading Commission (the "CFTC" and, together with the SEC, the "Commissions") jointly published a release seeking public comment on several proposed rules (the "Proposed Rules") that provide interpretive guidance with respect to the definitions of the terms "swap," "security-based swap," "security-based swap agreement," and "mixed swap" (the "Proposing Release").


This Emerging Issues Analysis was authored by attorneys at K&L Gates LLP. www.klgates.com.


All [three] authors are partners at K&L Gates LLP. www.klgates.com.


Diane E. Ambler is a partner at K&L Gates LLP. Ms. Ambler has substantial experience in financial institution regulation under federal securities laws, including the USA PATRIOT Act and the Sarbanes-Oxley Act, and has testified as an expert witness in her field. She focuses her practice on mutual fund governance, compliance activities of mutual funds, private funds and variable insurance product issuers and distributors, and activities of related service providers.


Susan I. Gault-Brown is a partner at K&L Gates LLP. Ms. Gault-Brown participants in the financial services industry, including investment advisers to hedge funds, private equity funds, and venture capital funds, registered open-end and closed-end funds, real estates funds, business development companies, investment banks, and broker-dealers, on regulatory, transactional and counseling matters involving the securities and commodities laws. She also regularly provides advice with respect to exemptions, no-action letters, and other forms of regulatory relief.


Anthony R.G. Nolan is a partner at K&L Gates LLP. Mr. Nolan's practice emphasizes derivatives, structured products and securitization. He has represented fixed income and alternative investment managers, financial institutions and servicers in a range of transaction types. He advises financial institutions, investment managers, hedge funds and other end-users with respect to a broad range of derivatives, including equity derivatives, credit derivatives and energy derivatives as well as synthetic structured products.


Lawrence B. Patent is of counsel at K&L Gates LLP. His principal areas of concentration are investment management, commodity futures, financial services and derivatives matters. Mr. Patent's experience includes substantial involvement with all of the Commodity Futures Trading Commission (CFTC) regulations related to intermediaries, including registration and fitness, sales practices, disclosure, reporting, recordkeeping, minimum financial requirements, customer funds protection, international trading, foreign currency, anti-money laundering, bankruptcy, risk assessment and managed funds.


Melissa J Gambol and Skanthan Vivekananda are associates at K&L Gates LLP.


This Emerging Issues Analysis is for informational purposes and does not contain or convey legal advice. 2011 K&L Gates LLP, All Rights Reserved.


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