Commentary by Nihal Patel
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 CFTC Division of Clearing and Risk encouraged persons using certain swap execution facilities-related "prime brokerage arrangements" for swaps to consider whether the arrangements require derivatives clearing organization registration.
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.
A swap dealer settled CFTC charges relating to a failure to disclose the pre-trade-mid-market-mark ("PTMMM") of equity index swaps.
The CFTC Division of Market Oversight granted no-action relief as to swap trade execution requirements related to ICE Clear Europe Ltd. discontinuing CDS clearing services in October 2023.