# 17 CFR § 240.12a-10: Exemption of security-based swaps from section 12(a) of the Act

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/ecfr-17-240.12a-10

## Section

- **Citation:** 17 CFR § 240.12a-10
- **Heading:** Exemption of security-based swaps from section 12(a) of the Act
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** September 22, 2026
- **Source:** Publisher's official text
- **Location:** Title 17—Commodity and Securities Exchanges > CHAPTER II—SECURITIES AND EXCHANGE COMMISSION > PART 240—GENERAL RULES AND REGULATIONS, SECURITIES EXCHANGE ACT OF 1934 > Subpart A—Rules and Regulations Under the Securities Exchange Act of 1934 > Securities Exempted From Registration

## Text

The provisions of Section 12(a) of the Act (15 U.S.C. 78l(a)) do not apply to any security-based swap that:
(a) Is issued or will be issued by a clearing agency registered as a clearing agency under Section 17A of the Act (15 U.S.C. 78q-1) or exempt from registration under Section 17A of the Act pursuant to a rule, regulation, or order of the Commission, in its function as a central counterparty with respect to the security-based swap;
(b) The Commission has determined is required to be cleared or that is permitted to be cleared pursuant to the clearing agency's rules;
(c) Is sold to an eligible contract participant (as defined in Section 1a(18) of the Commodity Exchange Act (7 U.S.C. 1a(18))) in reliance on Rule 239 under the Securities Act of 1933 (17 CFR 230.239); and
(d) Is traded on a national securities exchange registered pursuant to Section 6(a) of the Act (15 U.S.C. 78f(a)).
[77 FR 20549, Apr. 5, 2012]

## Nearby sections

- [17 CFR § 240.0-1 § 240.0-1 Definitions.](https://www.frixlaw.com/law-library/statutes/ecfr-17-240.0-1.md)
- [17 CFR § 240.0-2 § 240.0-2 Business hours of the Commission.](https://www.frixlaw.com/law-library/statutes/ecfr-17-240.0-2.md)
- [17 CFR § 240.0-3 § 240.0-3 Filing of material with the Commission.](https://www.frixlaw.com/law-library/statutes/ecfr-17-240.0-3.md)
- [17 CFR § 240.0-4 § 240.0-4 Nondisclosure of information obtained in examinations and investigations.](https://www.frixlaw.com/law-library/statutes/ecfr-17-240.0-4.md)
- [17 CFR § 240.0-5 § 240.0-5 Reference to rule by obsolete designation.](https://www.frixlaw.com/law-library/statutes/ecfr-17-240.0-5.md)
- [17 CFR § 240.0-6 § 240.0-6 Disclosure detrimental to the national defense or foreign policy.](https://www.frixlaw.com/law-library/statutes/ecfr-17-240.0-6.md)
- [17 CFR § 240.0-8 § 240.0-8 Application of rules to registered broker-dealers.](https://www.frixlaw.com/law-library/statutes/ecfr-17-240.0-8.md)
- [17 CFR § 240.0-9 § 240.0-9 Payment of filing fees.](https://www.frixlaw.com/law-library/statutes/ecfr-17-240.0-9.md)
- [17 CFR § 240.0-10 § 240.0-10 Small entities under the Securities Exchange Act for purposes of the Regulatory Flexibility Act.](https://www.frixlaw.com/law-library/statutes/ecfr-17-240.0-10.md)
- [17 CFR § 240.0-11 § 240.0-11 Filing fees for certain acquisitions, dispositions and similar transactions.](https://www.frixlaw.com/law-library/statutes/ecfr-17-240.0-11.md)
- [17 CFR § 240.0-12 § 240.0-12 Commission procedures for filing applications for orders for exemptive relief under Section 36 of the Exchange Act.](https://www.frixlaw.com/law-library/statutes/ecfr-17-240.0-12.md)
- [17 CFR § 240.0-13 § 240.0-13 Commission procedures for filing applications to request a substituted compliance or listed jurisdiction order under the Exchange Act.](https://www.frixlaw.com/law-library/statutes/ecfr-17-240.0-13.md)
- [17 CFR § 240.3a1-1 § 240.3a1-1 Exemption from the definition of “Exchange” under Section 3(a)(1) of the Act.](https://www.frixlaw.com/law-library/statutes/ecfr-17-240.3a1-1.md)
- [17 CFR § 240.3a4-1 § 240.3a4-1 Associated persons of an issuer deemed not to be brokers.](https://www.frixlaw.com/law-library/statutes/ecfr-17-240.3a4-1.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/ecfr-17-240.12a-10. Check the current official text before relying on it. Not legal advice.