Securities-based swap agreement and statutory extension

OR · 15usc78j:transaction.swap

This statutory alternative is included in each core claim through transaction. The concluding provision extends fraud/manipulation/insider-trading rules and precedents to these agreements; its express exclusion of prophylactic reporting/recordkeeping rules limits that extension. It is not an exemption from fraud liability. The second sentence identifies additional precedents extended to these agreements, without creating claims under those other sections here.

Exact element source

or any securities-based swap agreement

Rules promulgated under subsection (b) that prohibit fraud, manipulation, or insider trading (but not rules imposing or specifying reporting or recordkeeping requirements, procedures, or standards as prophylactic measures against fraud, manipulation, or insider trading), and judicial precedents decided under subsection (b) and rules promulgated thereunder that prohibit fraud, manipulation, or insider trading, shall apply to security-based swap agreements to the same extent as they apply to securities.

Judicial precedents decided under section 77q(a) of this title and sections 78i, 78 o , 78p, 78t, and 78u–1 of this title, and judicial precedents decided under applicable rules promulgated under such sections, shall apply to security-based swap agreements to the same extent as they apply to securities.

All variants

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How courts decided this element

Court interpretations