SEC Requests Extension of Collection on BCS Rules for SBS Entities

As required by Title VII of the Dodd-Frank Act, new section 15F(h) of the Exchange Act established business conduct standards for security-based swap dealers and major security-based swap participants (collectively security-based swap entities) in their dealings with counterparties, including special entities. In 2016, to implement the Dodd-Frank Act, SEC adopted the Business Conduct Standards rules for security-based swap dealers and major security-based swap participantsThese rules constitute a comprehensive set of business conduct standards and chief compliance officer requirements applicable to security-based swap entities. The information that must be collected pursuant to the BCS rules is intended to increase accountability and transparency in the market. The rules are designed to enhance transparency, facilitate informed customer decision-making, and heighten standards of professional conduct to better protect investors. The information will, therefore, help establish a framework that protects investors and promotes efficiency, competition, and capital formation.

Related Link: Federal Register Notice

Keywords: Americas, US, Banking, Securities, Information Collection, BCS Rule, Security-based Swaps, Swap Dealers, Swap Participants, Dodd-Frank Act, Business Conduct, SEC