SEC Floats Dodd-Frank Capital Rules For $650T Swaps Market

Law360, New York (October 17, 2012, 2:01 PM EDT) -- The U.S. Securities and Exchange Commission voted Wednesday to propose new Dodd-Frank rules that would impose higher capital and margin requirements on the largest traders in the $650 trillion swaps market, setting up a likely fight with Wall Street banks and industry groups.

The SEC passed the rules in a 5-0 voice vote. The measures, a key part of the 2010 Dodd-Frank Act, would establish new capital, margin and customer fund segregation requirements for security-based swap dealers like Goldman Sachs Group Inc. and JPMorgan Chase &...
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