SEC Proposed Rules: Recordkeeping and Reporting for SBSDs, MSBSPs and BDs; Capital Rules for Certain SBSDs

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The SEC has proposed recordkeeping and reporting rules and capital charges for security-based swap dealers based on the current broker-dealer reporting and recordkeeping regime.

Market participants in the derivatives markets have until July 1, 2014 to comment on the Securities Exchange Commission’s (SEC’s) recently proposed rules on April 17, 2014 with respect to recordkeeping and reporting obligations for security-based swap dealers (SBSDs) and major security-based swap participants (MSBSPs). At the same time, the SEC issued a proposed rule imposing a capital charge for unresolved securities differences, which would supplement the SEC’s proposed capital and margin rules issued on October 18, 2012 (the SEC Proposed Capital and Margin Rules).

Please see full alert below for more information.

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Topics:  Broker-Dealer, Compliance, MSBSPs, Recordkeeping Requirements, SEC, Security-Based Swaps, Stand-Alone SBSDs, Swap Dealers, Swaps

Published In: General Business Updates, Finance & Banking Updates, Securities Updates

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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