ARTICLE
4 February 2021

Effective Date Set For SEC Rule To Exempt Certain SBSEFs And SBSDs From Registering As Clearing Agencies

CW
Cadwalader, Wickersham & Taft LLP

Contributor

Cadwalader, established in 1792, serves a diverse client base, including many of the world's leading financial institutions, funds and corporations. With offices in the United States and Europe, Cadwalader offers legal representation in antitrust, banking, corporate finance, corporate governance, executive compensation, financial restructuring, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense.
The rule will go into effect on April 2, 2021.
United States Corporate/Commercial Law

An SEC final rule that conditionally exempts certain security-based swap execution facilities (or "SBSEFs") and security-based swap dealers (or "SBSDs") from also registering as a "clearing agency" (see previous coveragewas published in the Federal Register. The rule will go into effect on April 2, 2021.

Primary Sources

  1. Federal Register: Exemption from the Definition of "Clearing Agency" for Certain Activities of Security-Based Swap Dealers and Security-Based Swap Execution Facilities

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