Sec. 2A. SWAP AGREEMENTS

261 words·~1 min read·/statute-compilations/comps-1884/sec-2a

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

## SEC. 2A SWAP AGREEMENTS **[**77b–1**]** ###

(a)Reserved. ###

(b)Security-Based Swap Agreements ####

(1)The definition of “security” in section 2(a)(1) of this title does not include any security-based swap agreement (as defined in section 3(a)(78) of the Securities Exchange Act of 1934). ####

(2)The Commission is prohibited from registering, or requiring, recommending, or suggesting, the registration under this title of any security-based swap agreement (as defined in section 3(a)(78) of the Securities Exchange Act of 1934). If the Commission becomes aware that a registrant has filed a registration statement with respect to such a swap agreement, the Commission shall promptly so notify the registrant. Any such registration statement with respect to such a swap agreement shall be void and of no force or effect. ####

(3)The Commission is prohibited from— #####

(A)promulgating, interpreting, or enforcing rules; or #####

(B)issuing orders of general applicability; under this title 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 3(a)(78) of the Securities Exchange Act of 1934). ####

(4)References in this title to the “purchase” or “sale” of a security-based swap agreement 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 defined in section 3(a)(78) of the Securities Exchange Act of 1934), as the context may require.