Bancorp International Group Inc (fka BCIT)

[matrix]

It's not for one year but six months. I think Section 16b of the 1934 Securities Act applies: http://www.law.uc.edu/CCL/34Act/sec16.html


Definition of Swap Agreement (Section 206(b) of the Gramm-Leach-Bliley Act):

(b) DEFINITION OF SWAP AGREEMENT- For purposes of subsection (a)(6), the term `swap agreement' means any individually negotiated contract, agreement, warrant, note, or option that is based, in whole or in part, on the value of, any interest in, or any quantitative measure or the occurrence of any event relating to, one or more commodities, securities, currencies, interest or other rates, indices, or other assets, but does not include any other identified banking product, as defined in paragraphs (1) through (5) of subsection (a).

Ref: http://thomas.loc.gov/cgi-bin/query/z?c106:S.900.ENR:


Registration is not a method to get around this:
http://www.law.uc.edu/CCL/33Act/sec2A.html


Of course, these regs always boil down to whether they're enforced or not.