I 

112TH CONGRESS 

1ST SESSION H. R. 2779 

To exempt inter-affiliate swaps from certain regulatory requirements put 

in place by the Dodd-Frank Wall Street Reform and Consumer Protection Act. 

IN THE HOUSE OF REPRESENTATIVES 

AUGUST 1, 2011 

Mr. STIVERS (for himself and Ms. FUDGE) introduced the following bill; which 

was referred to the Committee on Financial Services, and in addition to 

the Committee on Agriculture, for a period to be subsequently determined 

by the Speaker, in each case for consideration of such provisions as fall 

within the jurisdiction of the committee concerned 

A BILL 

To exempt inter-affiliate swaps from certain regulatory requirements put in place by the Dodd-Frank Wall Street 

Reform and Consumer Protection Act. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. TREATMENT OF AFFILIATE TRANSACTIONS. 

4 (a) COMMODITY EXCHANGE ACT AMENDMENTS.— 

5 Section 1a(47) of the Commodity Exchange Act (7 U.S.C. 

6 1(a)(47)), as added by section 721(a)(21) of the Dodd7 Frank Wall Street Reform and Consumer Protection Act, 

8 is amended by adding at the end the following: 


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2 

•HR 2779 IH

1 ‘‘(G) TREATMENT OF AFFILIATE TRANS2 ACTIONS.— 

3 ‘‘(i) IN GENERAL.—The term ‘swap’ 

4 does not include any agreement, contract, 

5 or transaction that— 

6 ‘‘(I) would otherwise be included 

7 as a ‘swap’ under subparagraph (A); 

8 and 

9 ‘‘(II) is entered into by a party 

10 that is controlling, controlled by, or 

11 under common control with its 

12 counterparty. 

13 ‘‘(ii) REPORTING.—All agreements, 

14 contracts, or transactions described in 

15 clause (i) shall be reported to either a 

16 swap data repository, or, if there is no 

17 swap data repository that would accept 

18 such swaps, to the Commission pursuant 

19 to section 4r within such time period as 

20 the Commission may by rule or regulation 

21 prescribe.’’. 

22 (b) SECURITIES EXCHANGE ACT OF 1934 AMEND23 MENTS.—Section 3(a)(68) of the Securities Exchange Act 

24 of 1934 (15 U.S.C. 78c(3)(a)(68)), as added by section 

25 761(a)(6) of the Dodd-Frank Wall Street Reform and 


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3 

•HR 2779 IH

1 Consumer Protection Act, is amended by adding at the 

2 end the following: 

3 ‘‘(F) TREATMENT OF AFFILIATE TRANS4 ACTIONS.— 

5 ‘‘(i) IN GENERAL.—The term ‘secu6 rity-based swap’ does not include any 

7 agreement, contract, or transaction that— 

8 ‘‘(I) would otherwise be included 

9 as a ‘security-based swap’ under sub10 paragraph (A); and 

11 ‘‘(II) is entered into by a party 

12 that is controlling, controlled by, or 

13 under common control with its 

14 counterparty. 

15 ‘‘(ii) REPORTING.—All agreements, 

16 contracts, or transactions described in 

17 clause (i) shall be reported to either a se18 curity-based swap data repository, or, if 

19 there is no security-based swap data repos20 itory that would accept such security-based 

21 swaps, to the Commission pursuant to sec22 tion 13A within such time period as the 

23 Commission may by rule or regulation pre24 scribe.’’. 

Æ 


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