The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted on July 21,2010. Section 719(d) ofthe Dodd-Frank Act mandates that the Commodity Futures Trading Commission and the Securities and Exchange Commission jointly conduct a study to determine whether stable value contracts ("SVCs") fall within the definition of a swap. Section 719(d) of the Dodd-Frank Act also requires that the Commissions, in making that determination, jointly consult with the Department of Labor, the Department of the Treasury, and the State entities that regulate the issuers of SVCs. Further, Section 719(d) of the Dodd-Frank Act provides that if the Commissions determine that SVCs fall within the definition of a swap, they jointly shall determine if an exemption for SVCs from the definition of a swap is appropriate and in the public interest. In connection with this study, the Commissions' staffs seek responses of interested parties to the questions set forth below.
Request for Comment: 77 FR 60113 // PDF Version
Commodity Futures Trading Commission and Securities and Exchange Commission Acceptance of Public Submissions Regarding the Study of Stable Value Contracts
Comment File - Closing Date: 11/1/2012