The US Commodity Futures Trading Commission and the US Securities and Exchange Commission recently issued a set of final rules defining a "swap" under Section 721 of the Dodd-Frank Act. Under the new definitions, an "Insurance Safe Harbor" excludes insurance products from the definition of "swap," provided that they satisfy several components outlined by the Commissions. Understanding the definitions and requirements of the Insurance Safe Harbor's key components is critical in distinguishing what constitutes a swap versus an insurance product.
On August 2, 2012, please join Mayer Brown partners Lawrence Hamilton and Jerome Roche in a discussion of the Insurance Safe Harbor under the Dodd-Frank Act, the new definitions and what they mean for the insurance product landscape.
Mayer Brown's Global Financial Markets Initiative helps clients deal with the legal and business challenges resulting from the ongoing turbulence in worldwide financial markets. By mobilizing the firm's global resources from multiple practices and offices, the Initiative provides clients with knowledgeable and timely counsel on a broad spectrum of their legal needs.