Regulatory Alerts2023-06-30 | 2023-12592Added · Updated
Prohibition Against Fraud, Manipulation, or Deception in Connection With Security-Based Swaps; Prohibition Against Undue Influence Over Chief Compliance Officers
The Securities and Exchange Commission adopted final rules under the Securities Exchange Act of 1934 to prohibit fraud, manipulation, and deception in connection with security-based swaps. The Commission also enacted a rule making it unlawful for officers, directors, or employees of security-based swap dealers or major participants to coerce or fraudulently influence their chief compliance officers in the performance of their duties. These measures, effective August 29, 2023, establish specific prohibitions and affirmative defenses to enhance market integrity and protect the independence of compliance functions within regulated entities.
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