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Press Release


SEC Proposes Rules for Security-Based Swap Dealers and Major Security-Based Swap Participants

Washington D.C., April 17, 2014

The Securities and Exchange Commission voted yesterday to propose new rules for security-based swap dealers and major security-based swap market participants.  The proposed rules cover recordkeeping, reporting, and notification requirements for security-based swap dealers and major security-based swap participants and would establish additional recordkeeping requirements for broker-dealers to account for their security-based swap activities.

The rulemaking is required by the Dodd-Frank Wall Street Reform and Consumer Protection Act, which authorizes the SEC and other regulators to put in place a comprehensive framework to regulate the over-the-counter swaps and security-based swaps markets.

The SEC will seek public comment on the proposed rules for 60 days following their publication in the Federal Register.


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