Title 15Commerce and TradeRelease 119-73

§8321 Authority to define terms

Title 15 › Chapter CHAPTER 109— - WALL STREET TRANSPARENCY AND ACCOUNTABILITY › Subchapter SUBCHAPTER I— - REGULATION OF OVER-THE-COUNTER SWAPS MARKETS › Part Part B— - Regulation of Swap Markets › § 8321

Last updated Apr 6, 2026|Official source

Summary

The Commodity Futures Trading Commission can make rules that define "commercial risk" and any other words added to the Commodity Exchange Act by this part of the law. It must also further define "swap" (contract), "swap dealer" (firm), "major swap participant" (large party), and "eligible contract participant" (qualified buyer) so the rules cover deals or firms set up to evade the law.

Full Legal Text

Title 15, §8321

Commerce and Trade — Source: USLM XML via OLRC

(a)The Commodity Futures Trading Commission may adopt a rule to define—
(1)the term “commercial risk”; and
(2)any other term included in an amendment to the Commodity Exchange Act (7 U.S.C. 1 et seq.) made by this subtitle.
(b)To include transactions and entities that have been structured to evade this subtitle (or an amendment made by this subtitle), the Commodity Futures Trading Commission shall adopt a rule to further define the terms “swap”, “swap dealer”, “major swap participant”, and “eligible contract participant”.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

References in Text

This subtitle, referred to in text, is subtitle A (§§ 711–754) of title VII of Pub. L. 111–203, July 21, 2010, 124 Stat. 1641, which enacted this subchapter, section 78c–2 of this title, and section 1b, 6b–1, 6r to 6t, 7b–3, 24a, and 26 of Title 7, Agriculture, amended section 78f, 78o, and 78s of this title, section 1a, 2, 6 to 6b, 6c, 6d, 6m, 6q, 6s, 7 to 7b, 8 to 9a, 12, 12a, 13, 13–1, 13a–1, 13b, 15, 16, 21, 24, 25, 27 to 27b, 27e, and 27f of Title 7, section 761 of Title 11, Bankruptcy, and section 4421 and 4422 of Title 12, Banks and Banking, enacted provisions set out as notes under section 1a, 2, 6a, 7a–1, 7a–3, and 9 of Title 7, and amended provisions set out as a note under section 78c of this title. For complete classification of subtitle A to the Code, see Tables. The Commodity Exchange Act, referred to in subsec. (a)(2), is act Sept. 21, 1922, ch. 369, 42 Stat. 998, which is classified generally to chapter 1 (§ 1 et seq.) of Title 7, Agriculture. For complete classification of this Act to the Code, see section 1 of Title 7 and Tables. Codification Section is comprised of subsecs. (b) and (c) of section 721 of Pub. L. 111–203, which were redesignated as subsecs. (a) and (b), respectively, of this section for purposes of codification.

Reference

Citations & Metadata

Citation

15 U.S.C. § 8321

Title 15Commerce and Trade

Last Updated

Apr 6, 2026

Release point: 119-73