Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Wednesday, December 15, 2010

SEC Proposes End-User Requirements for Security-Based Swaps

The SEC today voted unanimously to propose requirements of end-users when they engage in a security-based swap transaction that is not subject to mandatory clearing.  The proposed rule, required under the Dodd-Frank Act, specifies the steps that end-users must follow to notify the SEC of how they generally meet their financial obligations when engaging in a security-based swap transaction exempt from the mandatory clearing requirement.  The SEC also sought comment on whether to provide an additional exemption for certain financial institutions that would permit those institutions to use the exception to mandatory clearing that is available to end-users.

Public comments on the proposed rules should be received by the Commission within 45 days after their publication in the Federal Register.  End-User Exception to Mandatory Clearing of Security-Based Swaps

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