Staff Report on the Definitions of “Security-Based Swap Dealer” and “Major Security-Based
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
| Agency | Securities and Exchange Commission |
|---|---|
| Document type | Notice |
| Published | 2026-05-04 |
| 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 which an entity would not become a major security-based swap participant. As provided in the Commission's rules, nine months after publication of this report and after considering any public comments received, the Commission may by order either terminate the pha |
| Document number | 2026-08558 |
| Official record | https://www.federalregister.gov/documents/2026/05/04/2026-08558/staff-report-on-the-definitions-of-security-based-swap-dealer-and-major-security-based-swap |