April 27, 2011
SEC & CFTC Propose More Rules on Swaps
The SEC today voted unanimously to propose rules further defining the terms “swap,” “security-based swap,” and “security-based swap agreement.” It also proposed rules regarding “mixed swaps” and books and records for “security-based swap agreements.” The rules were proposed jointly with the Commodity Futures Trading Commission (CFTC) and stem from the Dodd-Frank Act.
Public comments on the rule proposal should be received within 60 days after it is published in the Federal Register.
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