SEC Proposes Cross-Border Security-Based Swap Rules and Guidance

Skadden, Arps, Slate, Meagher & Flom LLP

Mark D. Young Maureen A. Donley Theodore M. Kneller Rachel Kaplan Reicher Prashina J. Gagoomal Elizabeth A. Mastrogiacomo

On May 23, 2013, the SEC published in the Federal Register proposed rules and guidance for applying Title VII of the Dodd-Frank Act to cross-border security-based swap (SB Swap) activities and non-U.S. persons. Recognizing the broad impact that Dodd-Frank's cross-border application will have, the SEC also reopened the comment periods for several outstanding SB Swap rulemakings for 60 days.

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