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SEC RIN: 3235-AK74 Publication ID: Spring 2021 
Title: Exemption from the Definition of "Clearing Agency" for Certain Activities of Security-Based Swap Dealers and Security-Based Swap Execution Facilities 

The Commission proposed regulations to impose ownership and voting limits and governance arrangements applicable to security-based swap clearing agencies and security-based swap execution facilities to mitigate potential conflicts of interest that could exist to those entities. The Commission separately proposed seven new rules and an amendment to an existing rule related to clearing agencies, including clearing agencies that clear security-based swaps.  The proposed rules were designed to enhance the regulatory framework for the supervision of clearing agencies.  The Commission adopted some of the proposed rules.

The Division is now considering recommending that the Commission adopt the remaining rules.  

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 242   
Legal Authority: Pub. L. 111-203, sec. 765    Pub. L. 111-203, sec. 763    15 U.S.C. 78c    15 U.S.C. 78f    15 U.S.C. 78k-1    15 U.S.C. 78q-1    15 U.S.C. 78w(a)   
Legal Deadline:
Action Source Description Date
Final  Statutory  Pub. L. 111-203, sec. 765.   01/18/2011 

Overall Description of Deadline: Pub. L. 111-203, sec. 765. The Dodd-Frank Act requires the Commission to adopt rules to mitigate conflicts of interest for security-based swap clearing agencies, security-based swap execution facilities, and security-based swap exchanges.

Action Date FR Cite
NPRM  10/26/2010  75 FR 65881   
NPRM Comment Period End  11/26/2010    
NPRM Comment Period Extended  03/08/2011  76 FR 12654   
NPRM Comment Period Extended End  04/29/2011    
NPRM Comment Period Reopened  05/23/2013  78 FR 30800   
NPRM Comment Period Reopened End  07/22/2013 
Final Action  02/01/2021  86 FR 7637   
Final Action Effective  04/02/2021 
Final Action  04/00/2022 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Information URL:  
RIN Data Printed in the FR: No 
Related RINs: Merged with 3235-AL13, Related to 3235-AK93 
Agency Contact:
Matthew Lee
Assistant Director, Division of Trading and Markets
Securities and Exchange Commission
100 F Street NE,
Washington, DC 20549
Phone:202 551-5794