The Commodity Futures Trading Commission and the Securities and Exchange Commission voted to reduce the number of companies that will face oversight for swaps use. The regulators decided that companies that conduct more than $8 billion in swaps business will be considered swaps dealers and face increased oversight. "As the dealer market is dominated by large entities, I believe the final swap-dealer definition will encompass the vast majority of swap-dealer activity," said CFTC Chairman Gary Gensler.

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