SEC Adopts New Procedures for Reviewing Clearing Submissions Under Dodd-Frank Act

Jun 29, 2012

The Securities and Exchange Commission has adopted rules that establish procedures for its review of certain clearing agency actions. The rules were required by the Dodd-Frank Wall Street Reform and Consumer Protection Act, which called for a new regulatory framework for trading in over-the-counter derivatives, including swap agreements.

The rules detail how clearing agencies will provide information to the SEC about security-based swaps that the clearing agencies plan to accept for clearing. The information is intended to aid the SEC in determining whether such security-based swaps are required to be cleared.

See full SEC release and final rule

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