Regulatory Alerts2022-02-04 | 2021-27531Added
Prohibition Against Fraud, Manipulation, or Deception in Connection With Security-Based Swaps; Prohibition Against Undue Influence Over Chief Compliance Officers; Position Reporting of Large Security-Based Swap Positions
The Securities and Exchange Commission proposes new rules to prohibit fraud, manipulation, and deception in connection with security-based swaps, explicitly covering ongoing payments and deliveries throughout the life of these instruments. The Commission also proposes a rule making it unlawful for officers or employees of security-based swap dealers or major participants to coerce, manipulate, or fraudulently influence the entity's chief compliance officer in the performance of their duties. Additionally, the proposal requires persons holding security-based swap positions exceeding specific thresholds to promptly file schedules disclosing detailed position information to increase market transparency and oversight.
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