- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-06-07T18:22:00
The Securities and Exchange Commission (SEC) on Wednesday adopted two rules aimed at curbing potential misconduct in the security-based swaps market.
One of the rules will prohibit officers and employees of security-based swaps from taking any action to coerce, manipulate, mislead, or fraudulently influence their firm’s chief compliance officer in performing a CCO’s duties. The rule is designed to “protect the independence and objectivity of the CCO,” the SEC said in a press release.
The other adopted rule will make it unlawful for any person, directly or indirectly, to influence security-based swaps through fraudulent schemes, making misleading statements or omitting material facts, obtaining or attempting to obtain money or property by means of any untrue statement, or manipulating or attempting to manipulate the price or valuation of any security-based swap, the agency explained in a fact sheet.
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