Clarification from US regulators on how major swap
participants will be defined has calmed fears that advisers or
managers could be caught. It’s also cleared up netting
concerns.
Defining swaps dealers and major swaps participants (MSP) is
the latest move from the Commodity Futures Trading Commission
(CFTC) and US Securities and Exchange Commission (SEC) in their
plans to implement the Dodd-Frank Act.
The definitions will decide who is required to register with
the agencies, and thus subject to special...