Title 15, Commerce and TradeRelease 119-102
§8304 Authority to Prohibit Participation in Swap Activities
Title 15 › CHAPTER 109 — WALL STREET TRANSPARENCY AND ACCOUNTABILITY › SUBCHAPTER I — REGULATION OF OVER-THE-COUNTER SWAPS MARKETS › Part A — Regulatory Authority › § 8304
Summary
May ban foreign firms from U.S. swap activities if CFTC or SEC, with Treasury, finds the foreign country's swap rules threaten U.S. financial stability, except as provided in section 6 of title 7.
Full Legal Text
Title 15, §8304
Commerce and Trade, Source: USLM XML via OLRC
Except as provided in section 6 of title 7, if the Commodity Futures Trading Commission or the Securities and Exchange Commission determines that the regulation of swaps or security-based swaps markets in a foreign country undermines the stability of the United States financial system, either Commission, in consultation with the Secretary of the Treasury, may prohibit an entity domiciled in the foreign country from participating in the United States in any swap or security-based swap activities.
Reference
Citations & Metadata
Citation
15 U.S.C. § 8304
Title 15, Commerce and Trade
Last Updated
Aug 21, 2026
Release point: 119-102