Stroock Special Bulletin
"CFTC to Plans: No Swaps for You! (Again?)"
On December 22, 2010, the Commodity Futures Trading Commission issued proposed rules ("Proposed Regulations") implementing aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 relating to swap transactions and certain Special Entity counterparties. Special Entities under the Proposed Regulations include retirement plans subject to the Employee Retirement Income Security Act of 1974, as amended and governmental plans and endowments.
This Stroock Special Bulletin provides an overview of the Proposed Regulations, including three principal issues with respect to Special Entities.