SEC Proposes Rules for Security-Based Swap Execution Facilities

SEC Release 34-63825

Date

February 2, 2011

The SEC proposed Regulation SB SEF under the Exchange Act to define "security-based swap execution facilities" (SB SEFs) and to establish registration requirements, duties, and core principals applicable to those entities. In addition, the proposal would amend Rule 3a-1 under the Exchange Act to exempt a registered SEF from the definition of "exchange" and would add Rule 15a-12 to exempt registered SEFs from regulation as a broker under § 15(b).

Steven Lofchie; [email protected]

Jeffrey Robins; [email protected]

Cross References

SEC Press Release 2011-35

Dodd-Frank § 763

Exchange Act § 3(a)(77)

Exchange Act Rules 3a-1, 15a-12