Swap Execution Facility Clarification Act

SIFMA provides comments to the U.S. House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises would require the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) to promulgate SEF regulations that allow the swaps markets to evolve to the best form of execution. SIFMA shares concerns that the rules proposed to date by the respective agencies do not share the same interpretation of the provisions related to SEF’s contain in the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).