SEC Advances Proposals For Swaps Oversight

Law360, New York (December 3, 2010, 4:57 PM EST) -- The U.S. Securities and Exchange Commission has advanced a series of proposals seeking to outline exactly which market participants will be subject to the stepped-up oversight of swaps and security-based swaps required under the new financial reform law.

The proposals unanimously approved by the SEC commissioners at a Friday meeting stem from a mandate under the Dodd-Frank Wall Street Reform and Consumer Protection Act for the SEC and the U.S. Commodity Futures Trading Commission to jointly regulate over-the-counter swaps markets. The SEC is ordered to regulate...
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