The SEC issued an Order updating several exemptions and granting additional exemptions for certain security-based swap activities.
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SEC Office of Compliance Inspections and Examinations Director Peter Driscoll highlighted key risks facing retail investors caused by bad actors and poor internal controls.
The Federal Register published Securities Exchange Act Rule 15Fi-1. The final rule requires security-based swap dealers and majority security-based swap participants to provide counterparties with a trade acknowledgment detailing information specific to a transaction.
The SEC Investor Advisory Committee approved (i) recommendations by the Market Structure Subcommittee to enhance information for bond market investors, and (ii) the SEC concept release on business and financial disclosure that is required by Regulation S-K.
The SEC adopted final rules requiring security-based swap dealers and major SBS participants to provide and verify trade acknowledgments in security-based swap transactions.