The Federal Register published Securities Exchange Act Rule 15Fi-1 to require security-based swap dealers and major security-based swap ("SBS") participants to provide counterparties with a trade acknowledgment detailing information specific to the transaction.
The final rule is effective on August 16, 2016. The applicable compliance date is the same as the compliance date of the SBS Entity registration rules, which is the later of:
- six months after the date of publication in the Federal Register of a final rule release adopting rules establishing capital, margin and segregation requirements for SBS Entities;
- the compliance date of final rules establishing recordkeeping and reporting requirements for SBS Entities;
- the compliance date of final rules establishing business conduct requirements under Exchange Act Sections 15F(h) and 15F(k); or
- the compliance date for final rules establishing a process for a registered SBS Entity to make an application to the Commission to allow an associated person who is subject to a statutory disqualification to effect or be involved in effecting security-based swaps on the SBS Entity's behalf.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
