SEC Security-Based Swaps Capital, Margin and Segregation Rules Become Effective

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This legal update provides a general overview of selected aspects of the Final Rule.

United States Finance and Banking

Matthew F. Kluchenek,Marla Matusic,Anna T. Pinedo

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The Securities and Exchange Commission ("SEC") issued its final rule for capital, margin, and segregation ("Final Rule") for security-based swap dealers ("SBSD") and major security-based swap participants ("MSBSP"), which become effective today, October 21, 2019. Compliance will be required 18 months after the effective date of the SEC's cross-border rules proposed earlier this year. The Final Rule will impact the security-based swaps markets as Nonbank SBSDs and their counterparties develop systems and infrastructure to comply with the security-based swaps margin, capital, and segregation requirements. This legal update provides a general overview of selected aspects of the Final Rule.

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