CPAs and Advisors with Your Growth in Mind

SEC Approves Rules on Over-the-Counter Derivatives

Approved by unanimous vote, the U.S. Securities and Exchange Commission (“SEC”) will adopt rules on how to apply “Security-Based Swap Dealer” and “Major Security-Based Swap Participant” definitions to cross-border security-based swap actions under the Securities Exchange Act of 1934 and Title VII of the Dodd-Frank Act. The new rules are part of a bigger framework suggested under the Dodd-Frank Act that would control over-the-counter derivatives. Through the Dodd-Frank Act, the SEC can carry out a regulatory framework for security-based swaps. At this time, security-based swaps trade solely in over-the-counter markets with little oversight. To counter future financial crises, various SEC. Read More.

Topics: , , , , , , ,