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SIFMA Seeks Delay In Derivs Provisions
The Securities Industry and Financial Markets Association is planning to formally urge the Securities and Exchange Commission to postpone the implementation of most derivatives provisions in the Dodd-Frank law.
TheSecurities Industry and Financial Markets Association(SIFMA) is planning to formally urge theSecurities and Exchange Commissionto postpone the implementation of most derivatives provisions in the Dodd-Frank law,Reutersreports. The provisions are due to go into effect on July 16.
The SIFMA has issues with nearly 50 provisions that would automatically become effective even though regulators are still finalizing the rules. The association informally requested the SEC to stop treating the provisions as securities for six months. The provisions are leading to confusion within the industry as banks are unsure of how to comply with them.
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