With the July 16 general effective date of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act fast approaching, Commissioner Gary Gensler of the Commodity Futures Trading Commission outlined his thinking on the finalization and implementation of swap rules in a speech given to the Futures Industry Association on March 16.

With respect to finalization, Commissioner Gensler affirmed his desire to have all rule proposals (as opposed to final rules) completed by the end of April, with rules being finalized in the three broad groupings: the Early Group, the Middle Group and the Late Group.