Staffs of the SEC and the CFTC will hold a joint public roundtable discussion on 6/16 to discuss proposed definitions required under the Dodd-Frank Reform Act.

Under Dodd-Frank, the CFTC and the SEC, in consultation with the Federal Reserve, must work jointly to further define the meaning of certain key terms including “swap dealer,” “security-based swap dealer,” “major swap participant,” and “major security-based swap participant.”  Title VII also obligates dealers and major participants to register, and subjects them to a number of statutory requirements including capital, margin and business conduct requirements.

More than 130 comment letters have been submitted in response to rules they jointly proposed in December.  These public comments have helped inform the agencies about a range of issues raised by these definitions.  The roundtable is intended to supplement these comments and help further inform the agencies as they proceed with final rulemaking.  Among the subjects that the discussion will focus on:

• General parameters of dealer activity.
• Application of the dealer definitions among different types of asset classes.
• Application of the de minimis exception from the dealer definitions.
• Adequacy of the proposed major participant tests.

Time and Date.   The roundtable, running from 9:00 a.m. to 3:45 p.m., will be held at CFTC Headquarters in Washington, D.C. Seating's on a first-come, first-served basis.  The public also may listen by telephone. by calling (866) 844-9416 (conference ID: 7731946).

For further details, go to:   [SEC PR 11-126, 6/10/11]