CFTC and SEC Staff Public Roundtable Discussion on Proposed Dealer and Major Participant Definitions under Dodd-Frank Act
The staffs of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) intend to hold a joint public roundtable to discuss proposed definitions required under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).
Thursday, June 16, 2011, 9:00 a.m.
CFTC’s Headquarters, 1155 21st Street NW, Washington, DC
Proposed definitions required under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act.)
Call-in to a toll-free or toll-telephone line to connect to a live audio feed. Call-in participants should be prepared to provide their first name, last name and affiliation. Conference call information is listed below
Domestic Toll-Free Number: (866) 844-9416
The meeting will be open to the public on a first come, first served basis.
NOTE: The CFTC and SEC are requesting public comment on the matters of this roundtable:
The Dodd-Frank Act provides that the CFTC and the SEC, in consultation with the Federal Reserve, must work jointly to further define the meaning of certain key terms including “swap dealer,” “security-based swap dealer,” “major swap participant” and “major security-based swap participant.” Title VII also provides for the registration of dealers and major participants, and will subject them to a number of statutory requirements including capital, margin and business conduct requirements.
The discussion will focus on such issues as:
• General parameters of dealer activity
• Application of the dealer definitions among different types of asset classes
• Application of the de minimis exception from the dealer definitions; and
• Adequacy of the proposed major participant tests.