United States Code

USC most recently checked for updates: Mar 03, 2024

§ 78c–1.
Swap agreements
Security-based swap agreements
The definition of “security” in section 78c(a)(10) of this title does not include any security-based swap agreement.
The Commission is prohibited from registering, or requiring, recommending, or suggesting, the registration under this chapter of any security-based swap agreement. 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.
Except as provided in section 78p(a) of this title with respect to reporting requirements, the Commission is prohibited from—
promulgating, interpreting, or enforcing rules; or
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.
(June 6, 1934, ch. 404, title I, § 3A, as added Pub. L. 106–554, § 1(a)(5) [title III, § 303(a)], Dec. 21, 2000, 114 Stat. 2763, 2763A–452; amended Pub. L. 111–203, title VII, § 762(d)(1), July 21, 2010, 124 Stat. 1760.)
cite as: 15 USC 78c-1