SEC Approves Rules Governing Overseas Swaps Trades

SEC Approves Rules Governing Overseas Swaps Trades Play

June 25 (Bloomberg) -- Mary Joe White, chair of the U.S. Securities and Exchange Commission, leads an open meeting on rules to outline how new requirements apply to derivatives traded by foreign divisions of U.S. banks. The SEC voted 5-0 to extend the agency’s rules to transactions executed by foreign divisions of banks including JPMorgan Chase & Co. and Goldman Sachs Group Inc. when the affiliate’s trades are legally guaranteed by the parent company. Commissioners Luis Aquilar, Daniel Gallagher, Kara Stein and Michael Piwowar also speak. (Video courtesy of SEC. Source: Bloomberg)

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