SEC proposed rules

SEC Proposed Rule for Security-Based Swap Execution Facilities

On February 2, the SEC proposed rules defining security-based swap execution facilities and establishing their registration requirements, duties and core principles. The proposed rules would also establish the process for security-based swap execution facilities to file rule changes and new products with the SEC and exempt security-based swap execution facilities from the definition of “exchange” and from most regulation as brokers. Comments on the proposed rules must be submitted by April 4. SEC Release.

SEC Proposes Rules on Security-Based Swap Reporting and Repositories

On November 19, the SEC proposed rules: (i) regarding how security-based swap transactions should be reported and the reports disseminated, and (ii) requiring security-based swap data repositories to register with the SEC. Comments on the proposed rules must be submitted within 45 days after publication in the Federal Register. SEC Release (Reporting). SEC Release (Repositories).