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ARTICLE · 14 NOVEMBER 2019

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

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

United StatesFinance and Banking
Matthew F. Kluchenek
Matthew F. Kluchenek
Marla Matusic
Marla Matusic
Marlon Paz
Marlon Paz
Anna T. Pinedo
Anna T. Pinedo
Ansley H. Schrimpf
Ansley H. Schrimpf
Kyle P. Swan
Kyle P. Swan
Matthew Bisanz
Matthew Bisanz
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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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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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