SEC finally moves forward on single-name CDS dealer rules

Commissioner Peirce wants rest of dealer regime completed within “weeks”, but no word on clearing

Hester Peirce - web.jpg
Hester Peirce: priority is to finalise the three remaining rules “expeditiously”

More than eight years after the passage of the Dodd-Frank Act, the Securities and Exchange Commission is at last nearing completion of rules governing dealers in single-name credit-default swaps – but only after another round of consultation.

Commissioner Hester Peirce told a New York conference, organised by the International Swaps and Derivatives Association on October 4, that the SEC is working intensely on these rules and she hoped the results would be visible “in the coming weeks and month

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