The US options regulator has tightened up rules for non-US dealing firms
The US Securities and Exchange Commission has approved rules
to crack down on firms’ cross-border swaps
activity in the agency’s latest step to rein in
The ruling details when a cross-border transaction by a
foreign firm must count towards its requirement to register as
a swap dealer or participant.
They specify when market participants engaged in
cross-border swaps activity will be subject to SEC oversight as
dealers or major participants, as well as defining a number of
key terms such as what is a US person.
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