SEC Proposes Requirements for Swaps Exempt from Mandatory Clearing

December 15, 2010

The SEC proposed rules governing the end-users of security-based swaps when they engage in transaction that are not subject to mandatory clearing.

The proposed rule, which is mandated by 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 must be received by the SEC within 45 days after their publication in the Federal Register.

Please click here to access the release.



Exchange-Traded Funds (ETFs), Investment Advisers, Mutual Funds