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16 December 2010

SEC proposes review process for mandatory clearing of security-based swaps under Dodd-Frank Act


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Die Securities and Exchange Commission, SEC, hat sich einstimmig für neue Regeln ausgesprochen wie sie von dem Dodd-Frank Gesetz vorgesehen sind, und welche die Informationsweiterleitung von Clearingstellen von wertpapier-basierenden Swaps an die SEC behandelt.


 This information is designed to aid the SEC in determining whether such security-based swaps are, in fact, required to be cleared. 

The SEC also proposed rules that would set out the way in which those clearing agencies that are designated as “systemically important” must submit advance notices for changes to their rules, procedures, or operations that could materially affect the nature or level of risk presented at such clearing agencies. 

“Promoting clearing wherever possible and appropriate is a key to building a regulatory framework for the derivatives market,” said SEC Chairman Mary L. Schapiro. “Through the clearing process itself, regulators will be more easily able to monitor transactions including prices and positions taken by traders, and thereby rein in the risks associated with these instruments.”

Public comments on the proposed rules should be received by the Commission within 45 days after their publication in the Federal Register.

Press release




© SEC


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