SEC risk alert flags observed deficiencies at security-based swap dealers
By 
Aaron Nicodemus2024-01-11T17:13:00
A new risk alert from the Securities and Exchange Commission (SEC) highlighted common deficiencies and weaknesses in the compliance programs of security-based swap dealers (SBSDs).
The alert, published Wednesday, identified issues in SEC examinations of SBSDs and provided observations about the practices of some dealers that might help other firms strengthen their compliance programs.
SBSDs were required to register with the SEC beginning in October 2021, part of the overhaul of the financial services industry contained in the Dodd-Frank Act. The SEC’s examinations of those dealers that registered with the agency began in 2022.
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