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.
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.
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.
© Latham & Watkins LLP | Attorney Advertising