CFTC/SEC swap product definitions 'irrational', say derivatives lawyers
Attorneys criticise the division of regulation and the lack of detail on mixed swaps
Derivatives lawyers have attacked proposed Dodd-Frank Act swap product definitions as "irrational", claiming the delineation of supervision between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) will seriously impede the ability of market participants to hedge their positions.
Under the 83-page proposed treatment, which was published in the Federal Register on May 23, commodity, equity, interest rate, broad-based credit derivatives indexes and
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