"CFTC & SEC Issue Release Defining Key Terms of the Dodd-Frank Act"

In late December, 2010, the Commodity Futures Trading Commission and the Securities and Exchange Commission, in consultation with the Board of Governors of the Federal Reserve System, issued proposed rules (the "Proposed Rules") under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act further defining the terms "swap dealer," "security-based swap dealer," "major swap participant," "major security-based swap participant," and "eligible contract participant."

This Stroock Special Bulletin highlights the major provisions of the Proposed Rules.