ISDA Rips CFTC Anti-Evasion Proposal

Swaps market participants in the U.S. or those participants dealing with a U.S. counterparty should be able to enter into swaps outside of the U.S. for legitimate business purposes without being concerned that their activity will be considered evasive under Dodd-Frank, according to the International Swaps and Derivatives Association in a comment letter to the Commodity Futures Trading Commission.