Commentary by Nihal Patel
A number of trade groups and industry commenters reiterated their opposition to an SEC proposal to require reporting of large positions in security-based swaps.
The SEC set an effective date of August 29, 2023 for final rules aimed at preventing fraud and manipulation involving security-based swaps transactions. The new rules include an amendment to prohibit undue influence on security-based swap dealers' chief compliance officers.
The SEC reopened the comment period on a proposed rule to require reporting of large positions in security-based swaps. SEC staff provided additional analysis on proposed thresholds in the rule.
The SEC adopted final rules aimed at preventing fraud and manipulation involving security-based swaps transactions and an amendment to prohibit undue influence on security-based swap dealer chief compliance officers.
The SEC extended the comment period on proposed amendments to rules governing beneficial ownership reporting until June 27, 2023. The SEC provided a supplemental analysis on the proposal's economic impact.