ARTICLE
13 November 2018

Federal Register: SEC Addresses Treatment Of Special Entities Under SBSD Business Conduct Requirements

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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.
United States Finance and Banking

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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