Commodity Futures Trading Commission: Clearing Exemption for Swaps Between Certain Affiliated Entities
GAO-13-587R: May 6, 2013
- Full Report:
GAO reviewed the Commodity Futures Trading Commission's (Commission) new rule on clearing exemption for swaps between certain affiliated entities. GAO found that (1) the final rule exempts swaps between certain affiliated entities within a corporate group from the clearing requirement under the Commodity Exchange Act, enacted by Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act); and (2) Commission complied with the applicable requirements in promulgating the rule, with the exception of the 60-day delay in effective date requirement.