SEC Proposes Review of Process for Mandatory Clearing of Swaps

December 15, 2010

The SEC proposed rules, which are mandated by the Dodd-Frank Act, that will, if adopted, set out the way in which clearing agencies provide information to the SEC about security-based swaps that the clearing agencies plan to accept for clearing. This information is designed to aid the SEC in determining whether such security-based swaps are, in fact, required to be cleared.

The SEC also proposed rules that will set out the way in which those clearing agencies that are designated as “systemically important” must submit advance notices for changes to their rules, procedures, or operations that could materially affect the nature or level of risk presented at such clearing agencies.

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