Market regulation · 09/07/2014

SEC Adopts Rules for Cross-Border Security-Based Swap Activities

The Securities and Exchange Commission (SEC) is adopting rules to address the application of certain provisions of the Securities Exchange Act of 1934 to cross-border security-based swap activities, including the definitions of 'security-based swap dealer' and 'major security-based swap participant'. The SEC is also adopting procedural rules for substituted compliance and a rule addressing its authority in enforcement proceedings.