SEC Speeds Up Clearinghouse Rule-Filing Process

Law360, New York (April 4, 2013, 1:40 PM EDT) -- A U.S. Securities and Exchange Commission rule allowing clearing agencies registered with both the SEC and the U.S. Commodity Futures Trading Commission to quickly implement rule changes regarding certain futures contracts has been expanded to include certain swap and forward contracts, the agency said Wednesday.

The new rule expands an interim rule in 2011 that allowed clearing agencies, upon filing with the SEC, to immediately implement changes regarding products not primarily related to securities futures.

The new rule expands the allowance to include swaps that are...
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