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SEC extends exemptions for security-based swaps

  • SEC (US Securities and Exchange Commission) Image

Feb 07, 2014

The SEC has issued an amendment that extends “the expiration date for interim final rules that provide exemptions under the Securities Act of 1933, the Securities Exchange Act of 1934, and the Trust Indenture Act of 1939 for those security-based swaps that [1] prior to July 16, 2011 were security-based swap agreements and [2] are defined as “securities” under the Securities Act and the Exchange Act as of July 16, 2011 due solely to the provisions of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act.”

Interim final rules affected by the amendment include:

  • Rule 240 of the Securities Act of 1933.
  • Rules 12a-11 and 12h-1(i) of the Securities Exchange Act of 1934.
  • Rule 4d-12 of the Trust Indenture Act of 1939.

The new expiration date has been set to February 11, 2017.

For more information, see the interim final rule (33-9545) on the SEC’s Web site.

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