Protecting Main Street End-Users From Excessive Regulation

Summary

Protecting Main Street End-Users From Excessive Regulation - Amends the Commodity Exchange Act to: (1) redefine a "swap dealer" as, primarily, any person engaged in the business of entering into swaps, but (2) remove from the definition any person who regularly enters into swaps with counterparties as an ordinary course of business for its own account. Revises the current exception to that definition to state that, in determining whether a person is a "swap dealer," no consideration shall be given to any transaction entered into for the person's own account for the purpose of: (1) hedging or mitigating commercial risk, or (2) achieving the person's own trading or investment objectives. Directs the Commodity Futures Trading Commission (CFTC) to exempt from designation as a swap dealer an entity that enters into swap dealing transactions with or on behalf of its customers if the aggregate gross notional amount of the outstanding swap dealing transactions entered into over the course of the preceding calendar year does not exceed $3 billion (or a greater amount, as market conditions warrant), adjusted for inflation.

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6 official files

• Reported in House (text)

  Reported in House · EN · 8 February 2012

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• Reported in House (PDF)

  Reported in House · EN · 8 February 2012

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• Reported to House with amendment(s)

  summary · EN · 8 February 2012

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• Introduced in House (text)

  Introduced in House · EN · 30 November 2011

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• Introduced in House (PDF)

  Introduced in House · EN · 30 November 2011

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• Introduced in House

  summary · EN · 30 November 2011

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