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.
