SEC's Pricey Swaps Rule Sets Up Wall Street Showdown

Law360, New York (October 17, 2012, 5:40 PM EDT) -- By approving an admittedly costly Dodd-Frank proposal to tighten regulation of the $650 trillion swaps market, the U.S. Securities and Exchange Commission on Wednesday set up a protracted fight with Wall Street that could land the agency in court yet again, attorneys say.

In a 5-0 vote, the SEC adopted proposed rules that would impose higher capital, margin and customer fund segregation requirements for top security-based swap dealers like Goldman Sachs Group Inc. and JPMorgan Chase & Co. The rules — a key part of the...
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