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SEC RIN: 3235-AK26 Publication ID: Spring 2009 
Title: ●Temporary Exemptions for Eligible Credit Default Swaps To Facilitate Operation of Central Counterparties To Clear and Settle Credit Default Swaps 
Abstract: The Commission adopted interim final temporary rules that provide exemptions under the Securities Act, the Exchange Act, and the Trust Indenture Act for certain credit default swaps to facilitate the operation of one or more central counterparties for those credit default swaps. The interim final temporary rules define such credit default swaps as "eligible credit default swaps" and exempt them from all provisions of the Securities Act, other than the section 17(a) anti-fraud provisions, including Exchange Act registration requirements and the Trust Indenture Act, provided certain conditions are met. The rules also define as a "qualified purchaser," for purposes of the "covered securities" provisions of section 18 of the Securities Act, any "eligible contract participant," as defined in section 1a(12) of the Commodity Exchange Act ("CEA") other than a person who is an eligible contract participant under section 1a(12)(C) of the CEA, to whom a sale of an eligible credit default swap is made in reliance on the interim final temporary Securities Act exemption. 
Agency: Securities and Exchange Commission(SEC)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
CFR Citation: 17 CFR 230.239T    17 CFR 230.145(c)T    17 CFR 240.12a-10T    17 CFR 240.12(h)-1(h)T    17 CFR 260.4d-11T   
Legal Authority: 15 USC 77r    15 USC 77s    15 USC 77z-3   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Interim Final Rule  01/22/2009  74 FR 3967   
Interim Final Rule Effective  01/22/2009    
Interim Final Rule Comment Period End  03/23/2009    
Further Action  08/00/2009    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Information URL: www.sec.gov/rules/final/2009/33-8999.pdf  
RIN Data Printed in the FR: No 
Agency Contact:
Amy Starr
Division of Corporation Finance
Securities and Exchange Commission
100 F Street NE,
Washington, DC 20549
Phone:202 551-3860