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Swaps Security-Based Swaps

Latham & Watkins LLP

SEC Launches Regulation for Security-Based Swap Execution Facilities

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Regulation SE, the last of the Title VII Dodd-Frank rulemakings, will become effective on February 13, 2024. The Securities and Exchange Commission (SEC) has taken a significant step in enhancing the regulatory landscape...more

Katten Muchin Rosenman LLP

Copy and Paste: The SEC Adopts Security-Based Swap Execution Facility Rules that Closely Resemble Existing CFTC Swap Execution...

After issuing two proposals, the Securities and Exchange Commission (SEC) adopted final rules (Final Rules) to establish its trading regime for security-based swaps (SBS) as required under the Dodd-Frank Wall Street Reform...more

Jones Day

SEC Reopens Comment Period for Rule Proposing New Disclosures for Security-Based Swaps

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The Situation: The Securities and Exchange Commission ("SEC") has reopened the comment period for its proposed rule requiring public disclosure of security-based swap ("SBS") positions that exceed certain thresholds....more

Katten Muchin Rosenman LLP

SEC Swaps the Game: New Rules to Combat Fraud, Manipulation and CCO Undue Influence

The Securities Exchange Commission (SEC) adopted two new rules on June 7 aimed at preventing fraud and manipulation specific to security-based swap (SBS) transactions and the entities that trade them, including a unique rule...more

Katten Muchin Rosenman LLP

SEC Shortens Settlement Cycle

On February 15, the Securities and Exchange Commission (SEC) adopted rule changes to shorten the standard settlement cycle for most broker-dealer transactions from two business days after the trade date (T+2) to one business...more

Goodwin

SEC to Enhance Its Regulation of Security-Based Swaps

Goodwin on

As we have previously discussed, the SEC’s Fall 2022 “Reg Flex” Agenda charts the agency’s planned rulemaking through Q1 2023. Among this ambitious and wide-reaching agenda are two important final rulemakings concerning the...more

WilmerHale

The Securities and Exchange Commission’s Implementation of Title VII of the Dodd-Frank Act: Reviewing the Status of Security-based...

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Gary Gensler served as Chair of the Commodity Futures Trading Commission (“CFTC”)from May 26, 2009 to January 3, 2014. He presided over the CFTC during the period that followed the 2008 financial crisis and led the CFTC...more

WilmerHale

SEC Adopts Amendments to Electronic Recordkeeping Requirements for Broker-Dealers and Security-Based Swap Dealers

WilmerHale on

On October 12, 2022, the Securities and Exchange Commission (SEC or Commission) voted to adopt amendments to the electronic recordkeeping requirements for broker-dealers and security-based swap dealers contained in Rules...more

Troutman Pepper

SEC Modernizes Its Recordkeeping Requirements for Certain Registrants

Troutman Pepper on

On October 12, the Securities and Exchange Commission (SEC) voted to adopt new electronic recordkeeping requirements for broker-dealers, security-based swap dealers (SBSDs), and major security-based swap participants (MSBSPs)...more

Cadwalader, Wickersham & Taft LLP

CFTC and SEC Issue Guidance on Security-Based Swaps and Fraud in OTC Swap Disclosures

On October 21, Commodity Futures Trading Commission (“CFTC”) Commissioner Caroline D. Pham issued a concurring statement to the CFTC’s amended complaint originally filed on April 27, 2022 in the U.S. District Court for the...more

Mayer Brown Free Writings + Perspectives

New Compliance and Disclosure Interpretation Regulates Forward Contracts on Restricted Securities

On June 9, 2022, the staff (“Staff”) of the US Securities and Exchange Commission (“SEC”) added Question 101.01 to its Compliance and Disclosure Interpretations (“C&DI”), addressing forward contracts on restricted securities....more

Cooley LLP

Corp Fin posts CDI regarding swaps and forward contracts

Cooley LLP on

Corp Fin has posted a new Exchange Act CDI regarding swaps and forward contracts. Swaps and security-based swaps are subject to a comprehensive regulatory framework established under Dodd-Frank. Under release 33-9338, forward...more

Dechert LLP

SEC Proposes to Require Reporting of Large Security-Based Swap Positions

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The Securities and Exchange Commission on February 4, 2022 published in the Federal Register its proposed new Rule 10B-1 under the Securities Exchange Act of 1934, together with a related form, Schedule 10B. The SEC had voted...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Revives Proposed Antifraud Rule for Security-Based Swap Transactions

On December 15, 2021, the Securities and Exchange Commission (SEC) re-proposed for comment Rule 9j-1 (Rule), an antifraud provision for security-based swaps (SBS) initially proposed in 2010. In the same release, the SEC also...more

Jones Day

SEC Proposes Three New Rules for Securities-Based Swaps

Jones Day on

The SEC is considering new rules that would require public position reporting and other requirements for security-based swaps. On December 15, 2021, the SEC proposed three rules under the Securities Exchange Act to...more

Proskauer Rose LLP

SEC Proposes Large Security-Based Swaps Position Reporting Rules, Re-Proposes Anti-Fraud Rules

Proskauer Rose LLP on

On December 15, 2021 the Securities and Exchange Commission proposed new rules requiring that large positions in security-based swaps and related securities be reported to the commission and publicly disseminated. At the same...more

Morgan Lewis

SEC Proposes Rules for Security-Based Swaps Prohibiting Fraud and Manipulation

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The US Securities and Exchange Commission proposed new rules on December 15, 2021, with respect to security-based swaps that, if adopted as proposed, would prohibit fraud and manipulation, require reporting of large...more

Hogan Lovells

Understanding the SEC’s new security-based swap dealer regulations - What should commercial end users, funds, and other financial...

Hogan Lovells on

This client alert addresses three aspects of security-based swap (SBS) regulations recently issued by the Securities Exchange Commission (SEC) that are relevant to commercial end users, funds, and other financial end users:...more

Jones Day

Countdown to Security-Based Swap Registration and Compliance Deadlines

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Unless otherwise exempted, entities engaging in SBS dealing activity in the immediately preceding 12 months, as of the Counting Date and thereafter, must register as an SBS dealer if the SBS positions connected with its SBS...more

Mayer Brown Free Writings + Perspectives

Chair Gensler Congressional Testimony Sheds Light on Potential Regulation

Yesterday, for the first time as Chair of the Securities and Exchange Commission, Gary Gensler appeared before Congress to provide testimony regarding the market disruptions and volatility witnessed in January 2021 relating...more

Katten Muchin Rosenman LLP

CFTC Adopts New Rules on Position Limits for Derivatives

The Commodity Futures Trading Commission (CFTC) voted to adopt new rules on position limits (Final Rules) in an open meeting on October 15. Once effective, the Final Rules will implement one of the remaining key provisions of...more

A&O Shearman

CFTC Approves Final Rule on Post-Trade Name Give-Up on Swap Execution Facilities

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The CFTC has adopted a final rule to prohibit the controversial practice of post-trade name give-up for swaps that are executed anonymously through a Swap Execution Facility (SEF) and are intended to be cleared. Although the...more

Orrick - Derivatives in Review

Prudential Regulators Amend Swap Margin Rules

On July 1, 2020, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Farm Credit Administration, and the Federal Housing Finance...more

WilmerHale

SEC Adopts Rule Amendments and Guidance Addressing Cross-Border Application of Certain Security-Based Swap Requirements

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On December 18, 2019, the Securities and Exchange Commission (SEC) adopted a package of rule amendments, guidance and a related order to expand and improve the framework for regulating cross-border security-based swaps,...more

WilmerHale

The SEC Adopts Security-Based Swap Rules Governing Risk Mitigation Techniques for Uncleared Security-Based Swaps

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On December 18, 2019, the Securities and Exchange Commission (the SEC or Commission) adopted new rules pursuant to Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) requiring the...more

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