Major Security-Based Swap Participant (MSBSP) | Practical Law
Major Security-Based Swap Participant (MSBSP)
Enter to open, tab to navigate, enter to select
US Home
Global Home
NEW
Sign in
Sign in
All content
Search:
Search Westlaw
Search Tips
Advanced
Major Security-Based Swap Participant (MSBSP)
Practical Law Glossary Item 8-555-1525
(Approx. 3 pages)
Glossary
Major Security-Based Swap Participant (MSBSP)
Designation under Title VII of the Dodd-Frank Act for an entity whose
security-based swap
(SBS) activity does not reach certain de minimis levels that would require registering as
security-based swap dealers
(SBSDs), but which is significant enough for the entity to warrant special regulation under Title VII. The aggregate notional tests for MSBSPs are similar to those for
major swap participants
(MSPs), only they are conducted with respect to activity in the SBS categories. The SEC holds regulatory jurisdiction over MSBSPs though MSBSPs are not yet required to register with the SEC and the SEC has yet to implement a full complement of rules for MSBSPs as the CFTC has for MSPs. For details on these tests and other considerations in making a MSBSP determination, see
Practice Note, US Derivatives Regulation: Swap Dealer and SBSD Registration Thresholds: Definitions of Major Swap Participant (MSP) and Major Security-Based Swap Participant (MSBSP)
.