SEC finishes rules on 'swap' investments
Securities regulators finalized key rules on Monday, July 9, 2012, that define what kinds of derivatives products will be regulated under the new regime created by the 2010 Dodd-Frank Wall Street reform law. Credit: Photos.com
WASHINGTON -- Securities regulators finalized key rules on Monday that define what kinds of derivatives products will be regulated under the new regime created by the 2010 Dodd-Frank Wall Street reform law.
The Securities and Exchange Commission voted unanimously behind closed doors to approve definitions for terms such as "swap" and "security-based swap."
The rules still must be jointly approved by the Commodity Futures Trading Commission, which is slated to vote on Tuesday morning at a public meeting.
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