SEC’s Exemptive Order & Security-Based Swaps Interim Final Rules


SIFMA provides comments to the Securities and Exchange Commission (SEC) requesting an extension of the expiration date of the SEC’s Exchange Act Exemptive Order and security-based swaps interim final rules.  Provisions in Sections 761 and 768 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) included security-based swaps (SBS) in the definition of “security” for purposes of the Securities Exchange Act of 1934 (the Exchange Act) and the Securities Act of 1933 (the Securities Act).  SIFMA shares concern that key issues and questions regarding the application of the federal securities laws to SBS remain unresolved. SIFMA requests that the SEC extend the expiration date of such relief until July 17, 2013.