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SEC proposes security-based swap rule

  • SEC (US Securities and Exchange Commission) Image

Apr 17, 2014

The SEC has issued a proposed rule that would establish additional regulations for security-based swap dealers and major security-based swap market participants regarding recordkeeping, reporting, and notification requirements. The proposal also includes additional recordkeeping requirements for broker-dealers to account for their security-based swap activities.

The SEC issued the proposal (Release No. 34-71958, Recordkeeping and Reporting Requirements for Security-Based Swap Dealers, Major Security-Based Swap Participants, and Broker-Dealers; Capital Rule for Certain Security-Based Swap Dealers) in response to requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act for the SEC to establish a comprehensive framework for regulating over-the-counter swaps and security-based swap markets.

Comments on the proposal are due by July 1, 2014.

For more information, see the press release and the proposed rule on the SEC’s Web site.

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