According to Gensler, the order approved by the commission would provide relief until December 2011 - or when the definitional rulemakings become effective, whichever is sooner - from certain provisions that would otherwise apply to swaps or swap dealers on July 16.
This includes provisions that do not directly rely on a rule to be promulgated, but do refer to terms that must be further defined by the
CFTC and SEC, such as "swap" and "swap dealer".
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© CFTC - Commodity Futures Trading Commission
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