Rule 18a-3 – Non-cleared security-based swap margin requirements for security-based swap dealers and major security-based swap participants for which there is not a prudential regulator.

Rule 18a-3 establishes minimum margin requirements for nonbank firms required to register with the SEC under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 as security-based swap dealers. Minimum margin standards ensure that firms collect sufficient collateral to secure the risk of loss on security-based swap positions. Rule 18a-10 provides an alternative compliance mechanism pursuant to which a stand-alone security-based swap dealer that is registered as a swap dealer and predominantly engages in a swaps business may elect to comply with the capital, margin, and segregation requirements of the Commodity Exchange Act (“CEA”) and the U.S. Commodity Futures Trading Commission’s (“CFTC”) rules in lieu of complying with the SEC's Rules 18a-1, 18a-3, and 18a-4, as adopted.

The latest form for Rule 18a-3 – Non-cleared security-based swap margin requirements for security-based swap dealers and major security-based swap participants for which there is not a prudential regulator. expires 2022-11-30 and can be found here.

Rule 18a-3 – Counterparty Risk Monitoring Procedures

Federal Enterprise Architecture: Economic Development - Financial Sector Oversight