Financial Services Bulletin: Action At The SEC

more+
less-

The SEC Proposes Cross-Board Security-Based Swap Rules

On Wednesday, May 1, 2013, the Securities and Exchange Commission (the "SEC") proposed rules and interpretive guidance for parties to cross-border security-based swap transactions.  The SEC acted pursuant to its authority under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act.  The proposed rules describe which regulatory requirements apply when a transaction occurs partially within and partially outside the U.S.  The proposed rules also explain the obligation of security-based swap dealers, major security-based swap participants, and other entities (such as clearing agencies, execution facilities, and data repositories) to register with the SEC.  Recognizing that market participants may be subject to conflicting or duplicative compliance obligations in the global derivatives market, the proposal also outlines a “substituted compliance” framework.

Read the SEC press release

Written by:

Published In:

SEC

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Perkins Coie | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×
Loading...
×
×