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SEC RIN: 3235-AK74 Publication ID: Fall 2021 
Title: Conflicts of Interest for Clearing Agencies of Security-Based Swaps 

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 proposed regulations related to the mitigation of conflicts of interest in security-based swap execution facilities have been merged into 3235-AK93. 

The Division is considering recommending that the Commission re-propose regulations to require governance arrangements for security-based swap clearing agencies to mitigate potential conflicts of interest that could exist for those entities.  

Agency: Securities and Exchange Commission(SEC)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed 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 
Second NPRM  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