On December 15, 2021, the SEC proposed new rules requiring that large positions in security-based swaps and related securities be reported to the SEC and publicly disseminated. At the same time, the SEC re-proposed regulations prohibiting fraudulent, deceptive and manipulative conduct in connection with security-based swaps. The SEC also proposed new rules restricting the personnel of security-based swap dealers from taking action to influence the chief compliance officer of the security-based swap dealer in the performance of its duties.
Proposed Rule 10B-1: Position Reporting of Large Security-Based Swaps. Rule 10B-1 would require any person, affiliate of such person or group of persons who would directly or indirectly be the owner or seller of a security-based swap to report such security-based swap position on EDGAR, subject to certain thresholds. The thresholds would vary based on the type of swap and, in certain circumstances, would include the value of any underlying securities owned by the holder of the reportable security-based swap position in determining whether the threshold has been met. The information on security-based swaps positions would be required to be filed on EDGAR within one business day of execution of the relevant position and would be publicly disseminated. The rule is intended to increase transparency in security-based swaps positions. In the proposing release, the SEC expressed concern about manufactured credit events triggering credit...
As Nigeria prepares for the 2027 general elections, political campaigns and online discussions are expected to intensify across social media and messaging platforms. Alongside legitimate political...