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Swap Vote to Trigger New Rules

Regulators decision this week on how to define swaps will trigger cascade of changes.

By Silla Brush, Bloomberg | Updated on July 09, 2012

When they decide which derivatives are considered swaps under the Dodd-Frank Act, U.S. regulators will unleash a cascade of rules on the $648 trillion global market designed to prevent a repeat of the 2008 credit crisis.

The Commodity Futures Trading Commission is poised to complete several hundred pages of regulations tomorrow that determine when trades by JPMorgan Chase & Co., Goldman Sachs Group Inc., Cargill Inc. and other companies must fall under rules to reduce risk and increase transparency. The Securities and Exchange Commission unanimously approved the rule July 6 without holding a public meeting.

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