May 22, 2012

Derivatives — Inter-Affiliate Swaps Exemption from Dodd-Frank is Sought in Congress

Greenberg Traurig
Sylvie A. Durham
Dmitry G. Ivanov
Greenberg Traurig, LLP
Monday, August 22, 2011
Administrative & Regulatory / Corporate & Business Organizations / Financial Institutions & Banking / Securities & SEC
All Federal
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Congress introduced a bill designed to “exempt inter-affiliate swaps from most of the new swap regulatory requirements under the Dodd-Frank Act (Dodd-Frank). The bill (H.R. 2779) would exclude from the definition of “swap” or “security-based swap,” swap contracts that are, “entered into by a party that is controlling, controlled by, or under common control with its counterparty.”

However, these inter-affiliate swaps would still need to be reported to either a swap data repository, the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC), as applicable. The bill was referred to the House Committee on Financial Services and the Committee on Agriculture. A copy of the bill is available by clicking here.

©2012 Greenberg Traurig, LLP. All rights reserved.

About the Author

Sylvie A. Durham
Shareholder

Sylvie Durham has been practicing law since 1985 and has experience on both the legal and business sides of derivatives, synthetic transactions, structured products and hedge funds. She spent three years as the general counsel and investment director at a New York-based structured credit fund. Prior to that, she was an investment banker and the head of structured equity products at BNP Paribas where she concentrated on structuring equity derivative products for corporations and hedge funds. Prior to BNP Paribas, she was a partner in the Structured Finance & Derivatives...

durhams@gtlaw.com
212-801-6923
www.gtlaw.com

Contributors

Dmitry G. Ivanov
Associate

Dmitry G. Ivanov is an associate in the Corporate & Securities Practice of Greenberg Traurig's New York office.

ivanovd@gtlaw.com
212-801-2210
www.gtlaw.com

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