On September 19, the SEC adopted new rules and amendments under Title VII of the Dodd-Frank Act establishing recordkeeping and reporting requirements for security-based swap dealers and major security-based swap participants, and amending those requirements for broker-dealers. The new rules aim to allow the SEC to better monitor compliance and reduce risk to the market. Release.
On January 14, the SEC adopted new rules that will require security-based swap data repositories (SDRs) to register with the SEC and prescribe reporting and public dissemination requirements for security-based swap transaction data. The SEC also proposed certain additional rules, rule amendments and guidance related to the reporting and public dissemination of security-based swap transaction data. The rules implement Title VII of the Dodd-Frank Act. The new rules will become effective 60 days after they are published in the Federal Register. Release.
On February 5, the SEC extended interim final rules that exempt security-based swaps that were security-based swap agreements prior to July 16, 2011, and are defined as “securities” under the Securities Act and the Exchange Act as of July 16, 2011, due solely to the provisions of Title VII of Dodd-Frank. Under the extension, the expiration dates in the interim final rules will change from February 11, 2014, to February 11, 2017. Release. Policy Statement.
