01 Feb SEC – Final Rule – Exemption from the Definition of “Clearing Agency” for Certain Activities of Security-Based Swap Dealers and Security-Based Swap Execution Facilities

February 1, 2021 – The SEC is adopting a rule pursuant to Section 36 of the Securities Exchange Act of 1934 to exempt from the definition of “clearing agency” in Section 3(a)(23) of the Exchange Act certain activities of a registered security-based swap dealer, a registered security-based swap execution facility, and a person engaging in dealing activity in security-based swaps that is eligible for an exception from registration as a security-based swap dealer because the quantity of dealing activity is de minimis.

Effective date:

April 2, 2021.

For more information, visit www.federalregister.gov.

Discover More Regulatory Insights

Visit the AxiomSL resource center for recent Regulatory Changes for financial institutions, InsideView Blog, and Thought Leadership.