Title

SEC Proposes Recordkeeping, Reporting and Notification Requirements for Security-Based Swap Dealers and Major Security-Based Swap Participants
Client Memorandum

Created date

5/16/2014

The Securities and Exchange Commission (“SEC”) recently issued a proposal to establish a framework of recordkeeping, reporting and notification requirements for security-based swap dealers (“SBSDs”) and major security-based swap participants (“MSBSPs”).  The proposal would also expand the recordkeeping, reporting and notification requirements that currently apply to broker-dealers to cover their security-based swap (“SBS”) activities.  This is the first proposed rulemaking related to SBS since the SEC released its proposal for cross-border SBS activities in May of last year.