In a June 10, 2011, statement, the Securities and Exchange Commission said that it was “taking a series of actions in the coming weeks to clarify the requirements that will apply to security-based swap transactions as of July 16—the effective data of the Title VII of the Dodd-Frank Act—and to provide appropriate temporary relief.” A number of federal agencies are starting to miss the deadlines provided in Dodd-Frank, given the tight timeline and volume of work set out in the legislation.
