COMMODITY FUTURES TRADING COMMISSION ISSUES PROPOSED RULE: JOINT REQUEST FOR COMMENT ON FURTHER DEFINITION OF "SWAP" AND "SECURITY-BASED SWAP" AND ON ALTERNATIVE COMPLIANCE

WASHINGTON, June 24 -- Commodity Futures Trading Commission has issued a proposed rule called: Joint Request for Comment on Further Definition of "Swap" and "Security-Based Swap" and on Alternative Compliance.

The proposed rule was published in the Federal Register on June 24 by Robert Sidman, Deputy Secretary of the Commission.

Summary: 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.

For m...