On Thursday, April 17, 2014, the Securities and Exchange Commission (the "SEC") proposed new rules regarding recordkeeping, reporting, and notification requirements for security-based swap dealers and major security-based swap participants.  The proposed rules would also establish additional recordkeeping requirements for broker-dealers to account for their security-based swap activities.  The SEC proposed these rules pursuant to Section 764 of the Dodd-Frank Act, and as part of the comprehensive framework to regulate the over-the-counter swaps and security-based swaps markets established by Title VII of the Dodd-Frank Act.

Read the SEC release.

Read the proposed rule.