On Dec. 11, 2015, the SEC proposed new derivatives rules for registered funds and business development companies. The proposed rules set limits on portfolio exposure and the requirement that funds maintain derivative risk management programs. It is important to evaluate these proposed limits against existing “stress testing” clearing and portfolio margining models. Derivative traders have 90 days from the day the proposal was published to comment. It is important to note that this proposal precedes the SEC and CFTC’s final uncleared swap rules, which will also affect existing pricing and margin methodologies, as well as risk management programs.  

You can find more information about the SEC proposal here.