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The SEC voted unanimously to propose capital, margin, and segregation requirements for security-based swap dealers and major security-based swap participants in order to regulate the over-the-counter swaps markets, as required by Dodd-Frank. The SEC's proposed rules are intended to accomplish the following: Set minimum capital requirements for security-based swap dealers and major security-based swap participants. Establish margin requirements for security-based swap dealers and major security-based swap participants with respect to non-cleared security-based swaps. Establish segregation

In Chairman Schapiro's opening statement, she provided some high-level background as to the SEC's proposed new rules that would establish capital, margin, and segregation for security-based swap dealers and major security-based swap participants. She noted that the new rules were intended to be modeled after the SEC's existing capital rules, but conceded that a lack of experience in establishing capital regulation as to swaps made this an inherently uncertain exercise. Chairman Schapiro notes that these proposals place heavy importance on requiring security-based swap dealers to hold liquid

In accordance with Dodd-Frank, the SEC is proposing capital and margin requirements for security-based swap dealers ("SBSDs") and major security-based swap participants ("MSBSPs"), segregation requirements for SBSDs, and notification requirements with respect to segregation for SBSDs and MSBSPs. The SEC also is proposing to increase the minimum net capital requirements for broker-dealers permitted to use the alternative internal model-based method for computing net capital. The SEC's proposed rules are intended to accomplish the following: Set minimum capital requirements for security-based

Technical corrections are being made to SEC Release 77 FR 70213 , which proposed capital and margin requirements for security-based swap dealers ("SBSDs") and major security-based swap participants ("MSBSPs"). The release also proposed segregation requirements for SBSDs and notification requirements with respect to segregation for SBSDs and MSBSPs, as well as increases to the minimum net capital requirements for broker-dealers permitted to use the alternative internal model-based method for computing net capital. Cross-Reference(s) : Dodd-Frank Section 763 (Amendments to the Securities