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Court OpinionsState LawsAlabama US Code1 USC - General Provisions US Constitution |
15 USC 78c-1 - Swap agreementsLegal Research Home > US Code > Commerce and Trade > 15 USC 78c-1 - Swap agreements Sec. 78c-1. Swap agreements(a)Non-security-based swap agreements The definition of "security" in section 78c (a)(10) of this title does not include any non-security-based swap agreement (as defined in section 206C of the Gramm-Leach-Bliley Act). (b) Security-based swap agreements (1) The definition of "security" in section 78c (a)(10) of this title does not include any security-based swap agreement (as defined in section 206B of the Gramm-Leach-Bliley Act). (2) The Commission is prohibited from registering, or requiring, recommending, or suggesting, the registration under this chapter of any security-based swap agreement (as defined in section 206B of the Gramm-Leach-Bliley Act). If the Commission becomes aware that a registrant has filed a registration application with respect to such a swap agreement, the Commission shall promptly so notify the registrant. Any such registration with respect to such a swap agreement shall be void and of no force or effect. (3) Except as provided in section 78p (a) of this title with respect to reporting requirements, the Commission is prohibited from— (A) promulgating, interpreting, or enforcing rules; or (B) issuing orders of general applicability; under this chapter in a manner that imposes or specifies reporting or recordkeeping requirements, procedures, or standards as prophylactic measures against fraud, manipulation, or insider trading with respect to any security-based swap agreement (as defined in section 206B of the Gramm-Leach-Bliley Act). (4) References in this chapter to the "purchase" or "sale" of a security-based swap agreement (as defined in section 206B of the Gramm-Leach-Bliley Act) shall be deemed to mean the execution, termination (prior to its scheduled maturity date), assignment, exchange, or similar transfer or conveyance of, or extinguishing of rights or obligations under, a security-based swap agreement, as the context may require. Sections: Previous 78iii 78jjj 78kkk 78lll 78a 78b 78c 78c-1 78d 78d-1 78d-2 78d-3 78e 78f 78g Next Last modified: July 21, 2011 |
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