SEC proposes rules for security-based swap dealers

The Securities and Exchange Commission is proposing capital, margin, and segregation requirements for security-based swap dealers, as well as major security-based swap participants.

Read: U.S. regulators review swaps rules

The proposed rules are required by the Dodd-Frank Wall Street Reform and Consumer Protection Act, and the margin rules are necessary when dealing with security-based swaps not cleared by an agency, says the SEC.

“These rules are intended to make the financial system safer and the derivative markets fairer, more efficient, and more transparent,” says SEC Chairman Mary L. Schapiro.

Read: Congress approves of Wall Street crackdown (2010)

The SEC is now seeking public comment on the rules.

Read the full release for more on the rules and their background.

You can also watch a video of Mary Shapiro’s statement at the open meeting, or read her comments on the proposed guidelines.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.