SEC-Proposed Rules for Security-Based Swap Dealers and Major Participants (Fed. Reg.)

The SEC-proposed new rules for security-based swap dealers (“SBSDs”) and major security-based swap market participants (“MSBSPs”) were published in the Federal Register.

Among other things, the proposed rules cover recordkeeping, reporting, and the notification of capital deficiency requirements for SBSDs and MSBSPs.  Additionally, the rules would establish other recordkeeping requirements obliging other broker-dealers to account for their security-based swap activities.

Furthermore, the SEC proposed an additional capital charge provision that would be added to the proposed rules for certain SBSDs, as well as technical amendments to the broker-dealer recordkeeping, reporting, and notification requirements.

Comments on the proposed rules must be submitted by July 1, 2014.

See: 79 FR 25193.


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