Extension of Exemptions for Security-Based Swaps; Interim Final Rule, Extension (SEC - Fed. Reg. Version)

The SEC published in the Federal Register an extension of the expiration dates to its interim final rules that provide exemptions under the Securities Act, the Exchange Act, and the Trust Indenture Act for security-based swaps that are presently defined as "securities". Without the exemption, security-based swaps would be subject to the ordinary provisions of the securities laws.

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Effective Date: The amendments are effective February 4, 2013, and the expiration dates in the interim final rules published July 1, 2011 (76 FR 40605) are extended to February 11, 2014.

Cross-Reference(s): Securities Act Rule 240 ("Exemption for Certain Security-Based Swaps"), Exchange Acts Rules 12a-11 ("Exemption of Security-Based Swaps Sold in Reliance on Securities Act Rule 240 from Section 12(A) of the Act") and 12h-1 ("Exemptions from Registration under Section 12(g) of the Act"), Trust Indenture Act Rule 4d-12 ("Exemption for Security-Based Swaps Offered and Sold in Reliance on Securities Act Rule 240"), and Dodd-Frank Title VII.

View rule release in full: 78 FR 7654.