FINRA Proposed Rule Change to Extend Temporary Limit on Application of FINRA Rules to Security-Based Swaps


On July 1, 2011, the Securities and Exchange Commission granted temporary exemptions under the Securities Exchange Act of 1934 in connection with the pending revision of the definition of “security” to encompass security-based swaps. As a result, the Financial Industry Regulatory Authority adopted Rule 0180, which (with certain exceptions) temporarily limits the application of FINRA rules with respect to security-based swaps. The SEC has issued an order extending the expiration date of the temporary exemptions until February 11, 2014. Thus, FINRA has filed the proposed rule change in order to align the expiration date of Rule 0180 with the new expiration date of the SEC’s temporary exemptions.

The SEC is accepting comments on the proposed rule change. Comments should refer to File Number SR-FINRA-2013-019 and must be submitted to the SEC on or before 21 days from publication in the Federal Register.

The notice of proposed rule change is available here.


Written by:

Published In:


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.

© Katten Muchin Rosenman LLP | 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.