August 19, 2011
Washington, DC – The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) have approved for publication in the Federal Register a request for comment that is expected to assist in conducting a joint study on stable value contracts.
Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act provides for the comprehensive regulation of swaps and security-based swaps and includes definitions of key terms relating to such regulation. It requires the CFTC and the SEC to jointly conduct a study to determine whether stable value contracts fall within the definition of a swap and, if so, whether exempting such contracts from the swap definition is appropriate and in the public interest.
The Dodd-Frank Act calls for the CFTC and the SEC to make the determination in consultation with the Department of Labor, the Department of the Treasury and the state entities that regulate the issuers of stable value contracts.
Comments must be received on or before 30 days after publication in the Federal Register.
Last Updated: August 19, 2011