SEC Unveils Rules For Documenting Derivatives Market

Law360, New York (January 18, 2011, 5:11 PM EST) -- The U.S. Securities and Exchange Commission has come up with new procedures for how swap dealers and major traders should document transactions in the over-the-counter derivatives market — the latest step in the implementation of new financial regulations.

Designed to increase transparency in the $600 trillion OTC derivatives market, the new rules, proposed Friday by the SEC, would require dealers and traders to provide their clients with documentation detailing the particularities of a trade within a set period of time.

Under the proposed rules, dealers and...
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