Â鶹´«Ã½

Home   News   Features   Interviews   Magazine Archive   Symposium   Industry Awards  
Subscribe
Â鶹´«Ã½
Leading the Way

Global Â鶹´«Ã½ Finance News and Commentary
≔ Menu
Â鶹´«Ã½
Leading the Way

Global Â鶹´«Ã½ Finance News and Commentary
News by section
Subscribe
⨂ Close
  1. HomeRegulation news
  2. SEC and ECB sign agreement on supervision of security-based swap dealers
Regulation news

SEC and ECB sign agreement on supervision of security-based swap dealers


17 August 2021 EU
Reporter: Bob Currie

Generic business image for news article
Image: travelview/adobe.stock.com
The Â鶹´«Ã½ and Exchange Commission, the US securities market regulator, has signed a memorandum of understanding (MoU) with the European Central Bank to cooperate and exchange information relating to swap transactions.

This will facilitate supervision of security-based swap dealers and major swap participants that are registered with the SEC and supervised by the ECB.

Specifically, the MoU, which was signed on 16 August, will strengthen the SEC’s oversight of SEC-registered security-based swap entities with activities in EU member states that are participating in the Single Supervisory Mechanism (SSM).

The SSM provides a framework for banking supervision in the EU and includes the ECB and national competent authorities of participating EU member states.

This agreement will also facilitate the SEC’s oversight of substituted compliance orders that it has issued in France and Germany, as well as further substituted compliance orders that it may issue in other EU member states that are part of the SSM.

These orders, issued by the SEC, enable SEC-registered swap entities to comply with US requirements detailed under Article VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the “Dodd Frank Act’) through compliance with comparable EU (and EU member states) laws.

This is the first MoU to be signed between the SEC and the ECB.
Next regulation article →

REGIS-TR partners with Reg-X
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Â鶹´«Ã½ Finance Times
Advertisement
Subscribe today
Knowledge base

Explore our extensive directory to find all the essential contacts you need

Visit our directory →

Discover definitions, explanations and related news articles in our glossary

Visit our glossary →