Based upon Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Securities and Exchange Commission voted this week to propose rules that lay out the process where security-based swap dealers and security-based swap participants must register with the Commission. This proposal is now open for comment.During the SEC’s open meeting to announce this, SEC Chairman Mary L. Schapiro commented, “Registering the major market participants in the largely unregulated security-based swap markets is a critical step toward better protecting investors. Today’s proposal draws from our experience with registration rules regarding broker-dealers – rules that are familiar to many market participants.”The proposed rule will be published in the Federal Register with a 60-day public comment period. The Commission will then review the comments it receives and consider those comments in determining whether to adopt the proposed rules.To read the entire article, please click here Registration of Securities-Based Swap Dealers and Major Security-Based Swap Participants.
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Red Oak Compliance Solutions is a leading provider of intelligent compliance software, offering a range of AI-powered solutions designed to help firms of all sizes successfully navigate the increasingly complex regulatory landscape. Our suite of 17(a)-4/WORM compliant features offer risk minimization, cost reduction, and process optimization capabilities with features that are designed to evolve with our client’s needs. Our flagship advertising review software enables firms to deliver compliant content to the market with confidence, faster. Our Disclosure Management and Intelligence solution simplifies the management of disclosures, while our Registration Management solution automates and streamlines the licensing and registration process, further enhancing your internal processes.