U.S. Swap Dealers’ Overseas Branches Gain Exemptions in SEC Plan

JPMorgan Chase & Co. (JPM), Citigroup Inc. (C) and other U.S. swap dealers would win some exemptions from Dodd- Frank Act regulations for their overseas swap trades under rules being considered by the Securities and Exchange Commission.

SEC commissioners are scheduled to vote at a meeting in Washington today on rules that would exempt U.S. swap dealers’ foreign branches from business conduct standards with their clients. The SEC proposal seeks a more limited reach than the Commodity Futures Trading Commission’s guidance released last year.

To contact the reporter on this story: Silla Brush in Washington at sbrush@bloomberg.net

To contact the editor responsible for this story: Maura Reynolds at mreynolds34@bloomberg.net

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