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Federal Register: SEC Addresses Treatment of Special Entities under SBSD Business Conduct Requirements

An SEC-issued "Commission Statement" that provides relief from aspects of the security-based swap dealer ("SBSD") business conduct rules was published in the Federal Register.

As previously covered, the action is in response to "practical compliance difficulties" raised by market participants. The relief allows market participants to rely on counterparty representations given in the context of transactions complying with CFTC external business conduct requirements.

The statement became effective on November 6, 2018.

Primary Sources

  1. Federal Register: SEC Statement on Certain Provisions of Business Conduct Standards for Security-Based Swap Dealers and Major Security-Based Swap Participants (83 FR 55486)
  2. SEC: Statement on Certain Provisions of Business Conduct Standards for Security-Based Swap Dealers and Major Security-Based Swap Participants

Tags

Regulated Activities
Sales
Regulated Entities
Swap Dealers / SBSDs
Regulated Products
Swaps / SBS
Body of Law
Securities Law
Jurisdiction
US - Federal
Organization
SEC