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SEC | RIN: 3235-AK26 | Publication ID: Fall 2010 |
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), 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: Previously 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 |
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Timetable:
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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/2010/33-9158.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 |