Rules Relating to Security-Based Swap Execution and Registration and Regulation of Security-Based Swap Execution Facilities
Securities and Exchange Commission published this proposed rule in the Federal Register on May 11, 2022. Comments close Jun 10, 2022.
Abstract
The Securities and Exchange Commission ("SEC" or "Commission") is proposing a set of rules ("Regulation SE") and forms under the Securities Exchange Act of 1934 ("SEA") that would create a regime for the registration and regulation of security-based swap execution facilities ("SBSEFs") and address other issues relating to security-based swap ("SBS") execution generally. One of the rules being proposed as part of Regulation SE would implement part of the Dodd-Frank Act, which is intended to mitigate conflicts of interest at SBSEFs and national securities exchanges that trade SBS ("SBS exchanges"). Other rules being proposed as part of Regulation SE would address the cross-border application of the SEA's trading venue registration requirements and the trade execution requirement for SBS. In addition, the Commission is proposing to amend an existing rule to exempt, from the SEA definition of "exchange," certain registered clearing agencies as well as registered SBSEFs that provide a market place only for SBS. The Commission also is proposing a new rule that, while affirming that an SBSEF would be a broker under the SEA, would exempt a registered SBSEF from certain broker requirements. Finally, the Commission is proposing certain new rules and amendments to its Rules of Practice to allow persons who are aggrieved by certain actions by an SBSEF to apply for review by the Commission. The Commission also is withdrawing all previously proposed rules regarding these subjects.
The abstract is quoted as the Federal Register publishes it.
Document
- Agency
- Securities and Exchange Commission
- Type
- Proposed Rule
- Published
- May 11, 2022
- Comments close
- Jun 10, 2022
- Document number
- 2022-07850
- Federal Register
- Read the document
Source: the Federal Register, public domain. All documents.