The SEC has announced the adoption of a substituted compliance determination order regarding security-based swap dealers and major security-based swap participants (SBS Entities) subject to regulation in the French Republic (the French Order). This is the first determination that focuses on substituted compliance associated with the SEC’s margin and capital mandates. Additionally, the SEC and the French Autorité des Marchés Financiers and the Autorité de Contrôle Prudentiel et de Résolution have entered into a memorandum of understanding to discuss cooperative efforts related to enforcement and supervision and other issues associated with substituted compliance. Continue reading "SEC Releases Substituted Compliance..." »