Friday, November 03. 2023
SEC Approves Rules to Reform Registration and Regulation of Security-Based Swap Execution Facilities
On November 2nd, the SEC adopted Regulation SE under the Securities Exchange Act of 1934, which establishes the process for an entity to register with the SEC as a security-based swap (SBS) execution facility (collectively, SBSEF) and introduces a new form required for registration. The adopted regime is one of a number of major reforms required under Title VII of the Dodd-Frank Act, which is the legislation that improved transparency and oversight of the over-the-counter derivatives market by requiring the SEC to employ a regulatory framework for SBSs that requires the registration and regulation of SBSEFs.
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