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Abstract: 

In this article, the authors discuss the SEC’s proposed Rule 10B-1 in detail, which requires the reporting of large security-based swap positions above certain prescribed thresholds. They begin by comparing the proposed rule to other recently enacted and proposed regulations, observing that the proposal enters a crowded regulatory environment. Next, the article examines the SEC’s rulemaking authority and explores events that have directly contributed to enacting this proposed regulation. Finally, the authors provide an in-depth summary of proposed Rule 10B-1 and identify potential conflicts with existing regulations and unintended consequences of the proposed Rule.

Keywords: Dodd Frank Act; Security-Based Swap Information; Beneficial Ownership; Credit Default Swaps; Rule 908 Cross-Border Provisions

Affiliations:  1: Proskauer Rose LLP; 2: Proskauer.