Broadly speaking the SEC regulates stock options as they are a derivative that reference a single underlying security, and that security is the equity in a comp

Broadly speaking the SEC regulates stock options as they are a derivative that reference a single underlying security, and that security is the equity in a company. Other securities like various swaps that reference a single security are considered generically security based swaps and are regulated by the SEC. The SEC also regulates narrow stock indices which I believe have less than 10 components. Who has jurisdiction for super exotic things where the law is unclear is often a negotiation between the SEC and CFTC.