Reg T is very loosely applied, and there are all sorts of work-arounds (TRR swaps, etc) and the regulators just don't seem to care that Reg T is being violated

Reg T is very loosely applied, and there are all sorts of work-arounds (TRR swaps, etc) and the regulators just don't seem to care that Reg T is being violated in spirit if not in letter. https://www.investopedia.com/terms/r/regulationt.asp https://www.investopedia.com/terms/r/regulationt.asp I interviewed for am equity swaps trading position many years ago, in full disclosure to me the prospective employer let me know that applying Reg T to derivatives transactions would be very bad for their business.