SEC Open Meeting, December 15, 2010

From MarketsReformWiki
Jump to: navigation, search
DTCC logo large.gif


Dodd-Frank Timeline, Process for Review of Swaps for Mandatory Clearing; Technical Amendments, SEC
Final Rule Issue Effective Date Compliance Date
June 28, 2012 August 13, 2012 December 10, 2012
Dodd-Frank Timeline, End-User Exception to Mandatory Clearing of Swaps, SEC
Proposal Date Comment Deadline Reopened Comment Period Deadline
December 21, 2010 February 4, 2011 July 22, 2013
Dodd-Frank Timeline, Conflict Minerals, SEC
Final Rule Issue Effective Date First Report Due
September 12, 2012 November 13, 2012 May 31, 2014
Dodd-Frank Timeline, Mine Safety Disclosure, SEC
Proposal Date Final Rule Issue Effective Date
February 3, 2011 December 29, 2011 January 27, 2012

The U.S. Securities and Exchange Commission (SEC) public meeting focused on the issuance of proposed rules under the Dodd-Frank Wall Street Reform and Consumer Protection Act concerning:

  • the process for submissions for review of security-based swaps for mandatory clearing and notice filing requirements for clearing agencies;
  • the end-user exception to mandatory clearing of security-based swaps;
  • conflict minerals;
  • mine safety disclosure; and
  • the disclosure of payments by resource extraction issuers.

Archived webcast:

Meeting Summary

Topics of Discussion

  • Establishing a process for the submission for review of security-based swaps for mandatory clearing and a procedure by which the Commission may stay the mandatory clearing requirement.
  • The submission to a clearing agency of a security-based swap.
  • A rule governing the exception to mandatory clearing of security-based swaps, considering also the application of the proposed rule to banks, savings associations, farm credit system institutions and credit unions.
  • Rules regarding the disclosure and reporting obligations with respect to the use of conflict minerals, to mine safety matters and to payments to governments made by resource extraction issuers.

Related Documents

Process for Submissions for Review of Security-Based Swaps for Mandatory Clearing and Notice Filing Requirements for Clearing Agencies

Read comment letters.png
Read proposed rule.png

End-User Exception to Mandatory Clearing of Security-Based Swaps

Read comment letters.png
Read proposed rule.png

Conflict Minerals

Read comment letters.png
Read proposed rule.png

Mine Safety Disclosure

Read comment letters.png
Read proposed rule.png

Speakers

Chairman Mary L. Schapiro, whose statements include:

  • A summary of security-based swaps and security-based swaps rules.
  • An explanation of mandatory clearing requirements.
  • Introducing the proposed rule that would "specify the steps that end-users must follow to notify the SEC of how they generally meet their financial obligations when engaging in a security-based swap transaction that is exempt from the mandatory clearing requirement."
  • Acknowledging close work with the CFTC on security-based swaps issues.

Commissioner Luis A. Aguilar, whose statements include:

  • An explanation as to how the proposed security-based swaps rules include goals consistent with derivatives market reform and examine a major source of systemic risk.
  • Support for the proposed rules regarding the clearing of security-based swaps.

References

MarketsReformWiki Sponsors

McGladrey ADM Investor Services DTCC Fidessa