Summary:
RIN 3038-AD57. Comments are requested on proposed interpretive guidance describing the general manner in which the CFTC will consider whether a person’s swap dealing activities or swap positions may require registration as a swap dealer or major swap participant. It also explains application of the clearing, trade execution, and certain reporting and recordkeeping provisions to cross-border swaps involving one or more counterparties that are not swap dealers or major swap participants. This proposed policy statement also discusses the framework under which the CFTC may permit compliance with a comparable regulatory requirement of a foreign jurisdiction to substitute for compliance with the requirements of the Commodity Exchange Act.