SEC Extends Exemptions for Security-Based Swaps

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On January 29, the SEC amended the expiration dates in its interim final rules that provide exemptions for security-based swaps that, prior to July 16, 2012, were security-based swap agreements and are defined as “securities” under the Securities Act and the Securities Exchange Act due solely to Article VII of the Dodd-Frank Act. Under the amendments, the expiration dates will be extended to February 11, 2014. SEC Rule.