Swap Jurisdiction Certainty Act

Summary

Swap Jurisdiction Certainty Act - Amends the Commodity Exchange Act and the Securities Exchange Act of 1934 regarding extra-territorial swap or security-based swap transactions between: (1) a registered swap or security-based swap dealer who is either a U.S. person or a person whose parent company is a U.S. person; and (2) a person who is a U.S. or non-U.S. subsidiary, branch, or affiliate of such swap dealer, or any other non-U.S. person not registered as a swap dealer. Exempts swaps, including security-based swaps, from regulation under the Wall Street Transparency and Accountability Act of 2010 (WSTAA) (title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act) as long as the swap dealer: (1) is either a U.S. person or a person whose parent company is a U.S. person; and (2) reports such swap or security-based swap to a swap data repository registered with the Commodity Futures Trading Commission (CFTC) or a security-based swap data repository registered with the Securities and Exchange Commission (SEC), as appropriate. Subjects to WSTAA requirements any non-U.S. person that is a registered swaps or security-based swaps dealer but only for swaps or security-based swaps entered into with a U.S. person who is not a U.S. subsidiary, branch, or affiliate of that non-U.S. person. Requires the CFTC and the SEC to permit non-U.S. persons that are registered swaps or security-based swaps dealers to comply with WSTAA capital requirements by complying with comparable requirements established by the appropriate governmental authorities in their respective home countries, so long as those home countries are signatories to the Basel Accords.

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Documents

6 official files

• Reported in House (text)

  Reported in House · EN · 14 December 2012

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• Reported in House (PDF)

  Reported in House · EN · 14 December 2012

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• Reported to House amended, Part I

  summary · EN · 11 May 2012

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• Introduced in House (text)

  Introduced in House · EN · 31 October 2011

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• Introduced in House (PDF)

  Introduced in House · EN · 31 October 2011

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• Introduced in House

  summary · EN · 31 October 2011

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