FINRA revised and redesignated its Interpretations of the SEA Financial and Operating Rules to align with recent SEC amendments.
News & Insights
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.
In new guidance, the SEC Division of Trading and Markets staff addressed the application of financial responsibility requirements (margin, capital and segregation) to security-based swap activities.
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.
The SEC made technical corrections to a final rule establishing security-based swap capital, margin and segregation requirements.