# Professor Marti Subrahmanyam shares insights on Dodd-Frank regulations of swaps

1 Faculty News January 12, 2017 ![Medill Reports Chicago Logo 192 x 144](/sites/default/files/styles/246w/public/assets/images/medillreportschicago192x144.jpg?itok=qLXDP2Gt)>

Excerpt from [Medill Reports Chicago](http://news.medill.northwestern.edu/chicago/does-dodd-frank-swaps-regulation-reduce-market-risk/) -- "There are a lot of unclear definitions in the Act, like who is required to register as a swap dealer, [Subrahmanyam](http://www.stern.nyu.edu/faculty/bio/marti-subrahmanyam) said. He said the main understanding was that it should be market makers, who both sell and buy swaps, but this definition, he contends, is too vague. Moreover, he said an 'end-user exception' in the Act is unclear, which is that people who use swaps to hedge rather than to speculate are exempted from the regulation."

[Read more](http://news.medill.northwestern.edu/chicago/does-dodd-frank-swaps-regulation-reduce-market-risk/)