Commissioner Mark Wetjen discusses the challenges the SEC and CFTC face jointly resolving key definitional issues that affect the scope of their respective mandates under Dodd-Frank. Speech primarily covered (i) product definitions, and (ii) end-user exception. View speech in full here(links externally to CFTC website).

View notice in full here (links externally to SEC website).

View notice in full here (links externally to SEC website).

The CFTC will hold a public meeting on Tuesday, July 10, 2012, at 9:30 a.m., to consider two Final Rules and a Proposed Rule: Final Rule related to the Further Definition of "Swap," "Security-Based Swap," and "Security-Based Swap Agreement"; Mixed Swaps; Security-Based Swap Agreement Recordkeeping. Final Rule related to the End-User Exception to the Clearing Requirement for Swaps. Proposed Rule related to Clearing Exemption for Certain Swaps Entered into by Cooperatives. What: Open Commission meeting to consider two Final Rules and a Proposed Rule Where: CFTC Headquarters Conference Center

The proposed rule would allow cooperatives that would not otherwise qualify for the swap clearing requirement exception provided in the Dodd-Frank Act (commonly referred to as the "end-user exception"), but whose members individually would qualify for the exception, to elect not to clear certain swaps entered into for the benefit of their members. View the Q&A on the proposed rule here(links externally to CFTC website).