United States:
Federal Register: SEC Addresses Treatment Of Special Entities Under SBSD Business Conduct Requirements
13 November 2018
Cadwalader, Wickersham & Taft LLP
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An SEC-issued "Commission Statement" that provides relief
from aspects of the security-based swap dealer ("SBSD")
business conduct rules was published in the Federal Register.
As
previously covered, the action is in response to
"practical compliance difficulties" raised by market
participants. The relief allows market participants to rely on
counterparty representations given in the context of transactions
complying with CFTC external business conduct requirements.
The statement became effective on November 6, 2018.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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