June 22, 2023
SEC adopted rules related to SBS
Last week, the SEC adopted two new rules related to the security-based swaps (SBS) markets, namely Rule 9j-1 and Rule 15fh-4(c). The former aims at preventing fraud, manipulation, and deception in connection with SBS transactions and the latter at prohibiting undue influence over the Chief Compliance Officer (CCO).
In its Final Rule release, the SEC noted that it is not yet adopting its proposed Rule 10B-1 on the reporting of large SBS positions. The Commission’s work on that rule continues, and could be finalized by the end of 2023.