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7 U.S. Code § 27d. Administration of the predominance test
(a) In generalNo provision of the Commodity Exchange Act [7 U.S.C. 1 et seq.] shall apply to, and the Commodity Futures Trading Commission shall not regulate, a hybrid instrument, unless the Commission determines, by or under a rule issued in accordance with this section, that—
(1)
the action is necessary and appropriate in the public interest;
(2)
the action is consistent with the Commodity Exchange Act [7 U.S.C. 1 et seq.] and the purposes of the Commodity Exchange Act; and
(3)
the hybrid instrument is not predominantly a banking product under the predominance test set forth in section 27c(b) of this title.