• CFTC Adopts Rule Implementing the Dodd-Frank End-User Exception to Mandatory Swap Clearing Requirement
  • August 10, 2012 | Authors: Dudley W. Murrey; Patrick C. Sargent
  • Law Firm: Andrews Kurth LLP - Dallas Office
  • July 21, 2012 marked the second anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) becoming law and imposing a comprehensive regulatory regime on swaps and security-based swaps. Shortly before that anniversary, the Commodity Futures Trading Commission (CFTC) adopted a rule (End-User Rule) implementing the end-user exception (End-User Exception) to the mandatory swap clearing requirement (Clearing Requirement) of Section 2(h)(1) of the Commodity Exchange Act (CEA).1 The Clearing Requirement will apply to particular swaps once the CFTC makes an effective determination that the requirement applies to those swaps or a group, category, class or type of swaps into which such swaps fall.