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 Protec-
tion 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 re-
quirements put in place by the Dodd-Frank Wall Street 
Reform and Consumer Protection Act. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. TREATMENT OF AFFILIATE TRANSACTIONS. 
(a) COMMODITY EXCHANGE ACT AMENDMENTS.— 
Section 1a(47) of the Commodity Exchange Act (7 U.S.C. 
1(a)(47)), as added by section 721(a)(21) of the Dodd- 
Frank Wall Street Reform and Consumer Protection Act, 
is amended by adding at the end the following: 
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‘‘(G) TREATMENT OF AFFILIATE TRANS-
ACTIONS.— 
‘‘(i) IN GENERAL.—The term ‘swap’ 
does not include any agreement, contract, 
or transaction that— 
‘‘(I) would otherwise be included 
as a ‘swap’ under subparagraph (A); 
and 
‘‘(II) is entered into by a party 
that is controlling, controlled by, or 
under 
common 
control 
with 
its 
counterparty. 
‘‘(ii) REPORTING.—All agreements, 
contracts, or transactions described in 
clause (i) shall be reported to either a 
swap data repository, or, if there is no 
swap data repository that would accept 
such swaps, to the Commission pursuant 
to section 4r within such time period as 
the Commission may by rule or regulation 
prescribe.’’. 
(b) SECURITIES EXCHANGE ACT OF 1934 AMEND-
MENTS.—Section 3(a)(68) of the Securities Exchange Act 
of 1934 (15 U.S.C. 78c(3)(a)(68)), as added by section 
761(a)(6) of the Dodd-Frank Wall Street Reform and 
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Consumer Protection Act, is amended by adding at the 
end the following: 
‘‘(F) TREATMENT OF AFFILIATE TRANS-
ACTIONS.— 
‘‘(i) IN
GENERAL.—The term ‘secu-
rity-based swap’ does not include any 
agreement, contract, or transaction that— 
‘‘(I) would otherwise be included 
as a ‘security-based swap’ under sub-
paragraph (A); and 
‘‘(II) is entered into by a party 
that is controlling, controlled by, or 
under 
common 
control 
with 
its 
counterparty. 
‘‘(ii) REPORTING.—All agreements, 
contracts, or transactions described in 
clause (i) shall be reported to either a se-
curity-based swap data repository, or, if 
there is no security-based swap data repos-
itory that would accept such security-based 
swaps, to the Commission pursuant to sec-
tion 13A within such time period as the 
Commission may by rule or regulation pre-
scribe.’’. 
Æ 
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