Federal Register, Volume 77 Issue 129 (Thursday, July 5, 2012)[Federal Register Volume 77, Number 129 (Thursday, July 5, 2012)]

[Rules and Regulations]

[Pages 39626-39627]

From the Federal Register Online via the Government Printing Office [www.gpo.gov]

[FR Doc No: 2012-16409]




17 CFR Part 1

RIN 3038-AD06


17 CFR Part 240

[Release No. 34-66868A; File No. S7-39-10]

RIN 3235-AK65

Further Definition of ``Swap Dealer,'' ``Security-Based Swap

Dealer,'' ``Major Swap Participant,'' ``Major Security-Based Swap

Participant'' and ``Eligible Contract Participant''; Correction

AGENCY: Commodity Futures Trading Commission; Securities and Exchange


ACTION: Joint final rule; joint interim final rule; interpretations;



SUMMARY: The Commodity Futures Trading Commission and Securities and

Exchange Commission are correcting final rules that appeared in the

Federal Register of May 23, 2012 (77 FR 30596). The rules further

defined the terms ``swap dealer,'' ``security-based swap dealer,''

``major swap participant,'' ``major security-based swap participant''

and ``eligible contract participant.'' Only the rules of the Commodity

Futures Trading Commission are subject to this correction. This

document also corrects a footnote in the Supplementary Information

accompanying the final rules.

DATES: Effective July 23, 2012.


CFTC: Jeffrey P. Burns, Assistant General Counsel, at 202-418-5101,

[email protected], Mark Fajfar, Assistant

[[Page 39627]]

General Counsel, at 202-418-6636, [email protected], Julian E. Hammar,

Assistant General Counsel, at 202-418-5118, [email protected], or David

E. Aron, Counsel, at 202-418-6621, [email protected], Office of General

Counsel; Gary Barnett, Director, at 202-418-5977, [email protected], or

Frank Fisanich, Deputy Director, at 202-418-5949, [email protected],

Division of Swap Dealer and Intermediary Oversight, Commodity Futures

Trading Commission, Three Lafayette Centre, 1155 21st Street NW.,

Washington, DC 20581;

SEC: Joshua Kans, Senior Special Counsel, Richard Grant, Special

Counsel, or Richard Gabbert, Attorney Advisor, at 202-551-5550,

Division of Trading and Markets, Securities and Exchange Commission,

100 F Street NE., Washington, DC 20549-7010.

SUPPLEMENTARY INFORMATION: In FR Doc. 2012-10562 appearing on page

30596 in the Federal Register of Wednesday, May 23, 2012, the following

corrections are made.


1. On page 30685, in the third column, in footnote 1094, the words

``CFTC Regulation Sec. 1.3(mmm)(2);'' are removed.

Sec. 1.3 [Corrected]


2. On page 30745, in the second column, correct paragraph

(ggg)(4)(ii)(D) to read as follows:

Sec. 1.3 Definitions.

* * * * *

(ggg) * * *

(4) * * *

(ii) * * *

(D) If the phase-in termination date has not been previously

established pursuant to paragraph (ggg)(4)(ii)(C) of this section, then

in any event the phase-in termination date shall occur five years after

the date that a swap data repository first receives swap data in

accordance with part 45 of this chapter.

* * * * *


3. On page 30747, in the third column, correct paragraph

(hhh)(6)(iii)(B)(2) to read as follows:

Sec. 1.3 Definitions.

* * * * *

(hhh) * * *

(6) * * *

(iii) * * *

(B) * * *

(2) The sum of the amount calculated under paragraph

(hhh)(6)(iii)(B)(1) of this section and the product of the total

effective notional principal amount of the person's swap positions in

all major swap categories multiplied by 0.15 is less than $1 billion.

* * * * *


4. On page 30749, in the third column, correct paragraph

(jjj)(3)(iii)(A) to read as follows:

Sec. 1.3 Definitions.

* * * * *

(jjj) * * *

(3) * * *

(iii) * * *

(A) Potential outward exposure equals the potential exposure that

would be attributed to such positions using the procedures in paragraph

(jjj)(3)(ii) of this section multiplied by:

(1) 0.1, in the case of positions cleared by a registered or exempt

clearing agency or derivatives clearing organization; or

(2) 0.2, in the case of positions that are subject to daily mark-

to-market margining but that are not cleared by a registered or exempt

clearing agency or derivatives clearing organization.

* * * * *

Dated: June 29, 2012.

Commodity Futures Trading Commission.

David A. Stawick,


Dated: June 29, 2012.

Securities and Exchange Commission.

Elizabeth M. Murphy,


[FR Doc. 2012-16409 Filed 7-3-12; 8:45 am]

BILLING CODE 8011-01-P; 6351-01-P

Last Updated: July 5, 2012