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  • Apr 03, 2012|DerivAlert

    SEC Releases Timeline for Implementing Dodd-Frank

    The U.S. Securities and Exchange Commission released its timeline yesterday for implementing Dodd-Frank Wall Street Reform and Consumer Protection Act rules in 2012.

     The SEC states:

     This chart includes rulemaking and public reporting, and all section references are to the Dodd-Frank Wall Street Reform and Consumer Protection Act unless otherwise indicated. 

     Within each time period, activity is presented according to subject matter, and in the order of the section numbers of the Act to which the activity is related. 

     The chart does not include activity by the Chairman of the SEC as a member of the Financial Stability Oversight Council, or activities that are in furtherance of Congressional direction to meet, coordinate and/or consult with other organizations. Those activities are taking place, but are not reflected in this document. 

     The chart also does not include other activities that the SEC is required to perform (e.g., reviewing or examining aspects of certain entities, meeting with certain other organizations), unless those activities are required to be publicly reported. In addition, new public reports are listed according to the time period in which each is first due, but subsequent periodic reports are not included on this list. 

     

     The full timeline covers of the complete financial reform act and is available on their website. We’ve included the derivatives and clearing sections below.

     

     Implementing Dodd-Frank Wall Street Reform and Consumer Protection Act — Upcoming Activity 

     Estimated January - June 2012 

    This is an estimated timeline and may be subject to change.

     Clearing & Settlement 

    •  §805: Adopt rules regarding standards for clearing agencies designated as systemically important

    Estimated July - December 2012 

    This is an estimated timeline and may be subject to change.

     Derivatives 

    •  §719(d): Joint report to Congress (with the CFTC) on study regarding stable value contracts
    •  
    • §§763 and 766: Adopt rules on trade reporting, data elements, and real-time public reporting for security-based swaps
       
    • §763: Adopt anti-manipulation rules for security-based swaps
       
    • §763: Adopt rules regarding the registration and regulation of security-based swap execution facilities
       
    • §764: Adopt rules regarding the registration and regulation of security-based swap dealers and major security-based swap participants
       
    • §765: Adopt rules regarding conflicts of interest for clearing agencies, execution facilities, and exchanges involved in security-based swaps
     

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