On June 7, 2023, the Securities and Exchange Commission (the “SEC”) adopted two new
rules (each a “Rule” and, collectively, the “Rules”) designed to prevent: (1) fraud,
manipulation and deception in connection with security-based swap transactions (the
“SBS Anti-Fraud Rule”), and (2) undue influence over the chief compliance officer (“CCO”)
of any security-based swap dealer or major security-based swap participant (each, an
“SBS Market Participant” and, such Rule, the “CCO Independence Rule”). Download our PDF to learn more.