# 2026-12743: CFTC and SEC Seek Input on Swap Rule Clarity

2026-12743, Joint Request for Comment on Further Definition of “Swap” and “Security-Based Swap” and on Alternative Compliance, is a Federal Register proposed rule from Commodity Futures Trading Commission, Securities and Exchange Commission published 2026-06-24, effective Comments must be received on or before August 24, 2026.; PRIA reads it as touching household money (as of 2026-07-01).

- Canonical: https://policyrisk.com/federal-register/2026-12743
- As of: 2026-07-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2026-12743
- Title: Joint Request for Comment on Further Definition of “Swap” and “Security-Based Swap” and on Alternative Compliance
- Type: Proposed Rule
- Agencies: Commodity Futures Trading Commission; Securities and Exchange Commission
- Citation: 91 FR 37873
- Published: 2026-06-24
- Effective: Comments must be received on or before August 24, 2026.
- Comments close: 2026-08-24
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: 3038-AF71, 3235-AN79
- Last updated: 2026-07-01

## In one line

CFTC and SEC Seek Input on Swap Rule Clarity

## 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!

## Abstract

The Commodity Futures Trading Commission ("CFTC") and the Securities and Exchange Commission ("SEC") (together, the "Commissions") request public comment on potential ways to draw clearer regulatory lines with respect to innovative products that may implicate both SEC and CFTC regulatory interests. The Commissions also request public comment on potential approaches to enable alternative compliance.

## Effects PRIA read

- Clarifying What Counts as a Swap: benefit, medium. 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…
- Possible Alternative Compliance to Cut Duplicate Rules: benefit, medium. 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 deeme…

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## Sources
- [2026-12743 on federalregister.gov](https://www.federalregister.gov/documents/2026/06/24/2026-12743/joint-request-for-comment-on-further-definition-of-swap-and-security-based-swap-and-on-alternative)
- [2026-12743 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-06-24/pdf/2026-12743.pdf)

## Related
- [Previous: 2026-12742, Joint Request for Comment on Swap and Security-Based Swap Data Reporting](https://policyrisk.com/federal-register/2026-12742)
- [Next: 2026-12745, Television Broadcasting Services Alamogordo, New Mexico](https://policyrisk.com/federal-register/2026-12745)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2026-12743 (as of 2026-07-01).