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SEC RIN: 3235-AK93 Publication ID: Spring 2011 
Title: ●Registration and Regulation of Securities-Based Swap Execution Facilities 
Abstract: The Commission proposed a registration framework for security-based swap execution facilities (SB SEFs) and established rules implementing a requirement of the Dodd-Frank Act that an SB SEF must comply with fourteen enumerated core principles and enforce compliance with those principles, as well as to permit an SB SEF to submit proposed changes to its rules to the Commission. The proposed framework includes an interpretation of the definition of "security-based swap execution facility" in section 3(a)(77) of the Exchange Act. In addition, the Commission proposed an amendment to Rule 3a-1 under the Exchange Act to exempt a registered SB SEF from the Exchange Act definition of "exchange" and new Rule 15a-12 to exempt, under certain conditions, a registered SB SEF from regulation as a broker pursuant to section 15(b) of the Exchange Act. 
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 240.3a-1    17 CFR 240.15a-12    17 CFR 242.800 to 823    17 CFR 249.1700   
Legal Authority: 15 USC 78c-4    15 USC 78c    15 USC 78f    15 USC 78o    15 USC 78s    15 USC 78w(a)    15 USC 78dd(b)    15 USC 78dd(c)    15 USC 78mm   
Legal Deadline:
Action Source Description Date
Final  Statutory  Dodd-Frank Act requires action within a year of enactment.  07/21/2011 
Timetable:
Action Date FR Cite
NPRM  02/28/2011  76 FR 10948   
NPRM Comment Period End  04/04/2011    
Final Action  07/00/2011    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Information URL: www.sec.gov/rules/proposed/2011/34-63825  
RIN Data Printed in the FR: No 
Agency Contact:
Michou Hai Minh Nguyen
Division of Trading and Markets
Securities and Exchange Commission
100 F Street NE,
Washington, DC 20549
Phone:202 551-5634
Fax:202 776-9274
Email: nguyenm@sec.gov