Bill > S947

This bill aims to provide exemptions from certain margin requirements under the Commodity Exchange Act and the Securities Exchange Act of 1934, which are federal laws regulating financial markets. Specifically, it exempts swaps (agreements to exchange cash flows or other financial instruments) and security-based swaps (similar agreements related to securities) when one of the parties involved is not a "swap dealer" or "major swap participant" (entities that trade swaps extensively and pose systemic risk), nor certain investment funds that meet specific criteria, nor designated regulated entities, nor a commodity pool (a collective investment vehicle for commodity interests). Additionally, the bill exempts swaps and security-based swaps entered into before the final rules for these regulations were required to be published under the Dodd-Frank Wall Street Reform and Consumer Protection Act or the Wall Street Transparency and Accountability Act of 2010, respectively. These exemptions are intended to ease the regulatory burden on end-users who are not considered systemically important financial institutions.