SEC Says It Will Clear Up Dodd-Frank Swaps Rules

Law360, New York (June 10, 2011, 5:27 PM EDT) -- The U.S. Securities and Exchange Commission said Friday it would take steps to clarify, delay and provide some exemptions to rules governing security-based swap transactions before they are set to take effect July 16 under last year's financial overhaul legislation.

In addition to its plan to release guidance on the rules, the agency also unveiled a new proposal Friday that would exempt clearinghouses functioning as central counterparties from certain registration rules that are due to apply to security-based swaps, aiming to ease the burden of clearing...
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