Regulatory Alerts2020-02-04 | 2019-27762Added · Updated
Risk Mitigation Techniques for Uncleared Security-Based Swaps
The Securities and Exchange Commission adopted final rules requiring registered security-based swap dealers and major participants to implement specific risk mitigation techniques for portfolios of uncleared security-based swaps. These requirements mandate periodic portfolio reconciliation with counterparties, engagement in portfolio compression exercises, and the execution of written trading relationship documentation prior to or contemporaneously with transactions. The Commission also issued an interpretation on the cross-border application of these rules and amended regulations to address the potential availability of substituted compliance.
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