[Federal Register Volume 77, Number 129 (Thursday, July 5, 2012)]
[Rules and Regulations]
[Pages 39626-39627]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-16409]



17 CFR Part 1

RIN 3038-AD06


17 CFR Part 240

[Release No. 34-66868A; File No. S7-39-10]
RIN 3235-AK65

Further Definition of ``Swap Dealer,'' ``Security-Based Swap 
Dealer,'' ``Major Swap Participant,'' ``Major Security-Based Swap 
Participant'' and ``Eligible Contract Participant''; Correction

AGENCY: Commodity Futures Trading Commission; Securities and Exchange 

ACTION: Joint final rule; joint interim final rule; interpretations; 


SUMMARY: The Commodity Futures Trading Commission and Securities and 
Exchange Commission are correcting final rules that appeared in the 
Federal Register of May 23, 2012 (77 FR 30596). The rules further 
defined the terms ``swap dealer,'' ``security-based swap dealer,'' 
``major swap participant,'' ``major security-based swap participant'' 
and ``eligible contract participant.'' Only the rules of the Commodity 
Futures Trading Commission are subject to this correction. This 
document also corrects a footnote in the Supplementary Information 
accompanying the final rules.

DATES: Effective July 23, 2012.

    CFTC: Jeffrey P. Burns, Assistant General Counsel, at 202-418-5101, 
jburns@cftc.gov, Mark Fajfar, Assistant

[[Page 39627]]

General Counsel, at 202-418-6636, mfajfar@cftc.gov, Julian E. Hammar, 
Assistant General Counsel, at 202-418-5118, jhammar@cftc.gov, or David 
E. Aron, Counsel, at 202-418-6621, daron@cftc.gov, Office of General 
Counsel; Gary Barnett, Director, at 202-418-5977, gbarnett@cftc.gov, or 
Frank Fisanich, Deputy Director, at 202-418-5949, ffisanich@cftc.gov, 
Division of Swap Dealer and Intermediary Oversight, Commodity Futures 
Trading Commission, Three Lafayette Centre, 1155 21st Street NW., 
Washington, DC 20581;
    SEC: Joshua Kans, Senior Special Counsel, Richard Grant, Special 
Counsel, or Richard Gabbert, Attorney Advisor, at 202-551-5550, 
Division of Trading and Markets, Securities and Exchange Commission, 
100 F Street NE., Washington, DC 20549-7010.

SUPPLEMENTARY INFORMATION: In FR Doc. 2012-10562 appearing on page 
30596 in the Federal Register of Wednesday, May 23, 2012, the following 
corrections are made.

1. On page 30685, in the third column, in footnote 1094, the words 
``CFTC Regulation Sec.  1.3(mmm)(2);'' are removed.

Sec.  1.3  [Corrected]

2. On page 30745, in the second column, correct paragraph 
(ggg)(4)(ii)(D) to read as follows:

Sec.  1.3  Definitions.

* * * * *
    (ggg) * * *
    (4) * * *
    (ii) * * *
    (D) If the phase-in termination date has not been previously 
established pursuant to paragraph (ggg)(4)(ii)(C) of this section, then 
in any event the phase-in termination date shall occur five years after 
the date that a swap data repository first receives swap data in 
accordance with part 45 of this chapter.
* * * * *

3. On page 30747, in the third column, correct paragraph 
(hhh)(6)(iii)(B)(2) to read as follows:

Sec.  1.3  Definitions.

* * * * *
    (hhh) * * *
    (6) * * *
    (iii) * * *
    (B) * * *
    (2) The sum of the amount calculated under paragraph 
(hhh)(6)(iii)(B)(1) of this section and the product of the total 
effective notional principal amount of the person's swap positions in 
all major swap categories multiplied by 0.15 is less than $1 billion.
* * * * *

4. On page 30749, in the third column, correct paragraph 
(jjj)(3)(iii)(A) to read as follows:

Sec.  1.3  Definitions.

* * * * *
    (jjj) * * *
    (3) * * *
    (iii) * * *
    (A) Potential outward exposure equals the potential exposure that 
would be attributed to such positions using the procedures in paragraph 
(jjj)(3)(ii) of this section multiplied by:
    (1) 0.1, in the case of positions cleared by a registered or exempt 
clearing agency or derivatives clearing organization; or
    (2) 0.2, in the case of positions that are subject to daily mark-
to-market margining but that are not cleared by a registered or exempt 
clearing agency or derivatives clearing organization.
* * * * *

     Dated: June 29, 2012.

Commodity Futures Trading Commission.
David A. Stawick,

    Dated: June 29, 2012.

Securities and Exchange Commission.
Elizabeth M. Murphy,
[FR Doc. 2012-16409 Filed 7-3-12; 8:45 am]
BILLING CODE 8011-01-P; 6351-01-P