U.S. SEC takes another step toward tighter swaps regulation

The top U.S. securities regulator on Wednesday took another step toward tightening its oversight of security-based swaps by proposing new reporting requirements for transactions, nearly six years after Congress directed it to build a regulatory regime for the derivatives. "These provisions will result in increased transparency which should allow for a more efficient market, better price discovery, and increased competition," said Democratic Commissioner Kara Stein at a Securities and Exchange Co