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.


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.

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