CFTC finalizes highly-anticipated ‘swap dealer’ definition

Two agencies charged under the Dodd-Frank Act with regulating the nation’s massive derivatives marketplace finalized long-awaited rules defining the range of swaps participants. The key rules that define which entities will face new requirements under the act have been the subject of heated debate. In the first part of this three-part report, Dodd Frank Update examines the CFTC’s new “swap dealer” definition. We also learn why one commissioner said he could not support the rulemaking.