CFTC and SEC Seek Input on Swap Rule Clarity
Published Date: 6/24/2026
Proposed Rule
Summary
The CFTC and SEC want your thoughts on how to better define what counts as a “swap” or “security-based swap” to clear up confusion about which rules apply. They’re also exploring new ways for companies to follow the rules more easily. If you’re involved in trading or financial products, this could affect you—so speak up by August 24, 2026!
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Clarifying What Counts as a Swap
If you trade or design financial products, the SEC and CFTC are asking whether they should more clearly define when a product is a "swap," a "security-based swap," a "mixed swap," or excluded from the swap definition. The agencies say clearer rules could "unlock access to innovative products in U.S. financial markets," and they are seeking comments on many specific definitional questions by August 24, 2026.
Possible Alternative Compliance to Cut Duplicate Rules
The SEC and CFTC are asking whether complying with one agency's rules could satisfy similar requirements of the other agency (called "alternative compliance"). They seek public input on when that would be appropriate and on possible joint or coordinated approaches, including tailored rules or deemed filings, with comments due by August 24, 2026.
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Key Dates
Department and Agencies
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