SEC and CFTC Seek Comment on Derivatives Rules

• The SEC and CFTC issued a joint request for public comment on derivatives product definitions and interpretive issues.
• The press release announcing the request was numbered 2026-57.
• The public comment period will run for 60 days following publication of the request in the Federal Register.
• The request covers definitions relating to swaps and security-based swaps, including the scope of certain exclusions from the swap definition.

Joint Request Targets Derivatives Definitions

The Securities and Exchange Commission and the Commodity Futures Trading Commission issued a joint request for public comment on potential opportunities to further update, clarify, and harmonize certain derivatives product definitions and interpretive issues. The announcement was contained in press release number 2026-57, dated June 18, 2026.

SEC and CFTC Seek Comment on Derivatives Rules

According to a single report, the request is intended to support the Commissions' ongoing evaluation of whether current regulatory definitions, interpretations, and jurisdictional frameworks appropriately reflect evolving market structures, financial products, and trading practices.

Scope of the Request

Among the topics included in the request are definitions relating to swaps and security-based swaps, including the scope of certain exclusions from the swap definition.

• Definitions relating to swaps and security-based swaps, including the scope of certain exclusions from the swap definition.
• A 60-day public comment period following publication of the request in the Federal Register.

Comments From Regulators

Michael S. Selig, CFTC Chairman, commented on the initiative.

Today's joint request for public comment presents an opportunity to address longstanding ambiguities within Title VII of Dodd-Frank that have stifled fair competition and responsible innovation.

— Michael S. Selig, CFTC Chairman

Paul S. Atkins, SEC Chairman, also weighed in on the request.

Clarification is long overdue on Title VII definitional issues, including event-based products. Through good-faith cooperation efforts, we can create a level playing field where established firms and new entrants alike can compete and innovate on equal footing regardless of whether they're registered with the SEC or CFTC.

— Paul S. Atkins, SEC Chairman

Next Steps

The public comment period will remain open for 60 days following publication of the request for comment in the Federal Register.