DERIVATIVES RULEMAKING: Security-Based Swap Dealer and Major Security-Based Swap Participant

SEC Final Rule: Application of Security-Based Swap Dealer and Major Security-Based Swap Participant Definitions to Cross-Border Security-Based Swap Activities; Republication (79 FR 47277)

Publication Date: 8/12/2014
Effective Date: 9/8/2014

The Securities and Exchange Commission (SEC or Commission) is adopting rules and providing guidance to address the application of certain provisions of the Securities Exchange Act of 1934 (Exchange Act) that were added by Subtitle B of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), to cross-border security-based swap activities. These rules and guidance in large part focus on the application of the Title VII definitions of security-based swap dealer and major security-based swap participant in the cross-border context. The Commission also is adopting a procedural rule related to the submission of applications for substituted compliance. In addition, the Commission is adopting a rule addressing the scope of our authority, with respect to enforcement proceedings, under section 929P of the Dodd-Frank Act. Read more