The SEC adopted changes to the exemptions for certain clearing agencies and broker-dealer/futures commission merchants concerning the portfolio margining of swaps and security-based swaps that are cleared credit default swaps.
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The SEC proposed replacing an exemption for certain clearing agencies and dual registrant broker-dealers concerning the portfolio margining of swaps and security-based swaps that are cleared credit default swaps.
SEC Deputy Chief Accountant Sagar Teotia discussed the implementation of new Generally Accepted Accounting Principles on revenue recognition, leases and measurement of credit losses on financial instruments.