SEC Exempts Swaps From Some Securities Regulations

Law360, New York (April 5, 2012, 6:54 PM EDT) -- Beginning April 16, the U.S. Securities and Exchange Commission will exempt security-based swap transactions from certain regulations if they are approved through central clearing organizations and reported to a swap data repository, the SEC said Thursday.

In a notice to the Federal Register, the SEC said it had adopted final rules exempting swaps from the provisions of the Securities Act, except the Section 17(a) anti-fraud rules, as well as registration requirements under the Securities Exchange Act, as long they meet a number of prerequisites.

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