US SEC chairman - cross-border swaps plan at top of her agenda

WASHINGTON Fri Jan 18, 2013 10:36am EST

WASHINGTON Jan 18 (Reuters) - A proposal addressing how over-the-counter derivatives rules will apply overseas will be at the top of the U.S. Securities and Exchange Commission's agenda for 2013, the agency's new chairman, Elisse Walter, said Friday.

In one of her first public appearances since taking over the top SEC post last month, Walter called the pending proposal "a critical linchpin" for the SEC as it works to finalize a web of new rules for swaps required by the 2010 Dodd-Frank Wall Street reform law.

In addition, she said the SEC is weighing how to proceed on another controversial rule required by the 2012 Jumpstart Our Business Startups Act, which would lift a ban on general advertising for private placements. She noted, however, that "nothing will come out of this building unless it has the votes" from a majority of commissioners.

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