Blog article
See all stories »

SEC proposals for cross-border security based swap activity

The Securities and Exchange Commission (SEC) has proposed detailed criteria which set out which regulatory requirements will apply when a transaction occurs partially within and partially outside the U.S.  The proposed rules also detail when security-based swap dealers, major security-based swap participants, and other entities — such as clearing agencies, execution facilities, and data repositories — must register with the SEC.


The proposal outlines a “substituted compliance” framework recognising that market participants may be subject to conflicting or duplicative compliance obligations in the global derivatives market.   This is subject to the requirements of a foreign regulatory regime having been determined by the SEC to achieve comparable regulatory outcomes.

 

The comment period for the proposed rules and interpretive guidance for cross-border security-based swap activities will occur for 90 days after they are published in the Federal Register.

 

RELATED LINK

http://www.sec.gov/news/press/2013/2013-77.htm

 

2356

Comments: (0)

Blog group founder

Retired Member

Member since

19 Mar 2009

Location

Blog posts

6,102

Comments

6,320

This post is from a series of posts in the group:

Financial Services Regulation

This network is for financial professionals interested in staying up to date on financial services regulation happening anywhere in the world. CFOs, bankers, fund managers, treasurers welcome.


See all