Are Swap Agreements Securities or Futures: The inadequacies of applying the traditional regulatory approach to otc derivatives transactions

Authors

Willa E. Gibson, University of AkronFollow

Document Type

Article

Publication Date

1999

Abstract

This Article contends that the classification of swap agreements as securities or futures is inappropriate given that the OTC derivatives market is a wholly different market than the ones for which securities and commodities laws were devised. Part II provides an overview of the swaps market. Part III discusses the jurisdictional problems between the SEC and CFTC regarding derivatives. Part IV examines whether swap transactions are securities. Part V examines whether swap transactions are futures contracts. Part VI surveys the exemption of swaps from CFTC authority. Part VII discusses the public policy goals in the OTC derivatives market, including what regulatory framework should be implemented to achieve these goals, and it is followed by a brief conclusion.

Publication Title

Iowa J. Corp. L.

Volume

24

First Page

379

Recommended Citation

Gibson, Willa E., "Are Swap Agreements Securities or Futures: The inadequacies of applying the traditional regulatory approach to otc derivatives transactions" (1999). Akron Law Faculty Publications. 292.
https://ideaexchange.uakron.edu/ua_law_publications/292