SECURITIES AND EXCHANGE COMMISSION ISSUES NOTICE: STAFF REPORT ON THE DEFINITIONS OF "SECURITY-BASED SWAP DEALER" AND "MAJOR SECURITY-BASED SWAP PARTICIPANT"

WASHINGTON, May 4 -- Securities And Exchange Commission has issued a notice called: Staff Report on the Definitions of "Security-Based Swap Dealer" and "Major Security-Based Swap Participant".

The notice was published in the Federal Register on May 4 by J. Matthew DeLesDernier, Deputy Secretary.

Summary: The Securities and Exchange Commission directed staff to prepare and is now publishing a report examining the effect and application of the definitions of "security-based swap dealer" and "major security-based swap participant." Those definitions include an exception from designation as a security-based swap dealer for an entity that engages in a de minimis quantity of security-based swap dealing, as well as separate thresholds below whic...