SEC Adopts Clearing Agency Rule to Limit Potential for Overlapping or Duplicative Regulation

December 22nd | 2020

The SEC recently adopted a rule to limit the potential for overlapping or duplicative regulation within its security-based swap regulatory regime. Specifically, the rule exempts certain activities of security-based swap execution facilities and security-based swap dealers from triggering the requirement also to register as a clearing agency, in line with similar exemptions for broker-dealers and national securities exchanges.