It's Not Just Registration: New Regulation of Swap Transactions by US and Non-US Banks Under the Dodd-Frank Act

June 12, 2012
New York Office
399 Park Avenue
New York, NY

Title VII of the historic Dodd-Frank Wall Street Reform and Consumer Protection Act, enacted in July 2010, put into place new requirements for those who do swap transactions, including registration of "swap
dealers" and "major swap participants."

The new regulations issued by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) go far beyond registration to include new mandatory clearing, reporting, recordkeeping, and compliance requirements. These new requirements are applicable to both US banks and non-US banks doing business in the United States. Among the issues we will discuss are:

  • What new requirements are applicable to anyone engaged in swap activity? Are there any exceptions?
  • What unique issues do these requirements pose for non-US banks?
  • What is the extraterritorial effect of these new requirements?
  • What are the SEC and CFTC registration requirements for "swap dealers" and "major swap participants"?


Meet the Speakers

Daniel Waldman
Senior Counsel
Arnold & Porter
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